Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Summary of Financial Assets Recognized at Fair Value on Recurring Basis

As of September 30, 2021 and December 31, 2020, the Company’s financial assets recognized at fair value on a recurring basis consisted of the following:

	Fair Value as of September 30, 2021
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents and restricted cash equivalents	$	335,916	$	335,916	$	-	$	-
Marketable securities:
U.S. Treasury and other government securities		251,242		220,670		30,572		-
Financial institution debt securities		394,998		-		394,998		-
Corporate debt securities		32,090		-		32,090		-
Other asset-backed securities		135,652		-		135,652		-
Total marketable securities		813,982		220,670		593,312		-
Total	$	1,149,898	$	556,586	$	593,312	$	-
	Fair Value as of December 31, 2020
	Total		Level 1		Level 2		Level 3
	(In thousands)
Cash equivalents and restricted cash equivalents	$	163,805	$	163,805	$	-	$	-
Marketable securities:
U.S. Treasury and other government securities		245,668		241,664		4,004		-
Financial institution debt securities		138,443		-		138,443		-
Corporate debt securities		41,766		-		41,766		-
Other asset-backed securities		11,474		-		11,474		-
Total marketable securities		437,351		241,664		195,687		-
Total	$	601,156	$	405,469	$	195,687	$	-