The following table summarizes cash equivalents and marketable securities held at June 30, 2022 and December 31, 2021 (in thousands), which are recorded at fair value. The table below excludes $383.3 million and $405.6 million of cash at June 30, 2022 and December 31, 2021, respectively.


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2022
Cash equivalents:
Money market funds	$	21,287	$	—	$	—		$	21,287
Corporate debt securities		13,810		3		(7	)		13,806
Certificates of deposit		5,007		—		—			5,007
Commercial paper		72,250		—		—			72,250
U.S. Treasury securities		1,207		—		—			1,207
Total cash equivalents		113,561		3		(7	)		113,557
Marketable securities:
U.S. Treasury securities		9,962		—		(16	)		9,946
Corporate debt securities		1,144,291		15		(18,852	)		1,125,454
Certificates of deposit		45,654		—		—			45,654
Government-sponsored enterprise securities		32,315		—		(634	)		31,681
Commercial paper		364,859		—		(756	)		364,103
Total marketable securities		1,597,081		15		(20,258	)		1,576,838
Total cash equivalents and marketable securities	$	1,710,642	$	18	$	(20,265	)	$	1,690,395
December 31, 2021
Cash equivalents:
Money market funds	$	507,386	$	—	$	—		$	507,386
Corporate debt securities		—		—		—			—
Certificates of deposit		—		—		—			—
Commercial paper		9,997		—		(1	)		9,996
Total cash equivalents		517,383		—		(1	)		517,382
Marketable securities:
U.S. Treasury securities		16,238		6		(52	)		16,192
Corporate debt securities		1,173,659		10		(4,903	)		1,168,766
Certificates of deposit		45,164		—		—			45,164
Government-sponsored enterprise securities		13,334		—		(77	)		13,257
Commercial paper		212,805		—		(86	)		212,719
Total marketable securities		1,461,200		16		(5,118	)		1,456,098
Total cash equivalents and marketable securities	$	1,978,583	$	16	$	(5,119	)	$	1,973,480

As of June 30, 2022 and December 31, 2021, the aggregate fair value of marketable securities that were in an unrealized loss position for less than twelve months was $917.8 million and $1,311.6 million, respectively. As of June 30, 2022 and December 31, 2021, the aggregate fair value of marketable securities that were in an unrealized loss position for more than twelve months was $78.5 million and $4.6 million, respectively. Of this amount, securities totaling $8.4 million and $0.0 million as of June 30, 2022 and December 31, 2021, respectively, will mature beyond one year. The Company has recorded a net unrealized loss of $3.4 million and $15.2 million during the three and six months ended June 30, 2022 respectively, related to its debt securities, which is included in comprehensive loss on the condensed consolidated statements of operations and comprehensive (loss) income. The Company recorded a net unrealized loss of $0.2 million and $0.6 million during the three and six months ended June 30, 2021 respectively, related to its debt securities, which is included in comprehensive loss on the condensed consolidated statements of operations and comprehensive (loss) income.

The Company determined that there is no material credit risk associated with the above investments as of June 30, 2022. The Company has the intent and ability to hold such securities until recovery. As a result, the Company did not record any charges for credit-related impairments for its marketable securities for the three and six months ended June 30, 2022 and 2021. No available-for-sale debt securities held as of June 30, 2022 had remaining maturities greater than thirty months.