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Marketable Securities (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Securities, Available-for-Sale [Abstract]  
Cash equivalents and marketable securities classified as available-for-sale Total cash, cash equivalents and marketable securities are summarized as follows:
As of March 31, 2024
(In thousands)Fair Value
Amortized
 Cost
Gross
 Unrealized
 Gains
Gross
 Unrealized
 Losses
Cash$107,285 $107,285 $— $— 
Cash equivalents:
Money market funds4,335 4,335 — — 
Corporate bonds, commercial paper and notes994 994 — — 
Total cash equivalents5,329 5,329 — — 
Total cash and cash equivalents112,614 112,614 — — 
Marketable securities:
Time deposits13,419 13,419 — — 
U.S. Government bonds and notes149,442 149,851 10 (419)
Corporate bonds, commercial paper and notes115,582 115,869 6 (293)
Total marketable securities278,443 279,139 16 (712)
Total cash, cash equivalents and marketable securities$391,057 $391,753 $16 $(712)
As of December 31, 2023
(In thousands)Fair Value
Amortized
 Cost
Gross
 Unrealized
 Gains
Gross
 Unrealized
 Losses
Cash$88,486 $88,486 $— $— 
Cash equivalents:
Money market funds3,790 3,790 — — 
U.S. Government bonds and notes2,491 2,491 — — 
Total cash equivalents6,281 6,281 — — 
Total cash and cash equivalents94,767 94,767 — — 
Marketable securities:
U.S. Government bonds and notes194,428 194,389 251 (212)
Corporate bonds, commercial paper and notes136,649 136,892 162 (405)
Total marketable securities331,077 331,281 413 (617)
Total cash, cash equivalents and marketable securities$425,844 $426,048 $413 $(617)
Available-for-sale securities reported at fair value
Available-for-sale securities are reported at fair value on the balance sheets and classified along with cash as follows:
As of
(In thousands)
March 31, 2024
December 31, 2023
Cash$107,285 $88,486 
Cash equivalents5,329 6,281 
Total cash and cash equivalents112,614 94,767 
Marketable securities278,443 331,077 
Total cash, cash equivalents and marketable securities$391,057 $425,844 
Estimated fair value of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position
The estimated fair value and gross unrealized losses of cash equivalents and marketable securities classified by the length of time that the securities have been in a continuous unrealized loss position at March 31, 2024 and December 31, 2023 are as follows:
 Fair ValueGross Unrealized Losses
(In thousands)March 31, 2024December 31, 2023March 31, 2024December 31, 2023
Less than 12 months    
U.S. Government bonds and notes$109,953 $32,454 $(336)$(53)
Corporate bonds, commercial paper and notes74,120 46,407 (121)(40)
Total cash equivalents and marketable securities in a continuous unrealized loss position for less than 12 months184,073 78,861 (457)(93)
12 months or greater
U.S. Government bonds and notes7,115 6,841 (83)(159)
Corporate bonds, commercial paper and notes16,805 16,619 (172)(365)
Total cash equivalents and marketable securities in a continuous unrealized loss position for 12 months or greater23,920 23,460 (255)(524)
Total cash equivalents and marketable securities in a continuous unrealized loss position$207,993 $102,321 $(712)$(617)
Contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities
The contractual maturities of cash equivalents (excluding money market funds which have no maturity) and marketable securities are summarized as follows:
(In thousands)March 31, 2024
Due in less than one year$209,233 
Due from one year through three years70,204 
Total$279,437