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Marketable Securities (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2024
(In thousands)Fair Value
Amortized
 Cost
Gross
 Unrealized
 Gains
Gross
 Unrealized
 Losses
Cash$105,712 $105,712 $— $— 
Cash equivalents:
Money market funds12,881 12,881 — — 
U.S. Government bonds and notes4,996 4,997 — (1)
Corporate bonds, commercial paper and notes989 990 — (1)
Total cash equivalents18,866 18,868 — (2)
Total cash and cash equivalents124,578 124,580 — (2)
Marketable securities:
Time deposits13,654 13,654 — — 
U.S. Government bonds and notes157,004 157,469 1 (466)
Corporate bonds, commercial paper and notes137,648 137,934 1 (287)
Total marketable securities308,306 309,057 2 (753)
Total cash, cash equivalents and marketable securities$432,884 $433,637 $2 $(755)
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)
June 30, 2024
December 31, 2023
Cash$105,712 $88,486 
Cash equivalents18,866 6,281 
Total cash and cash equivalents124,578 94,767 
Marketable securities308,306 331,077 
Total cash, cash equivalents and marketable securities$432,884 $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 June 30, 2024 and December 31, 2023 are as follows:
 Fair ValueGross Unrealized Losses
(In thousands)June 30, 2024December 31, 2023June 30, 2024December 31, 2023
Less than 12 months    
U.S. Government bonds and notes$154,278 $32,454 $(467)$(53)
Corporate bonds, commercial paper and notes126,234 46,407 (225)(40)
Total cash equivalents and marketable securities in a continuous unrealized loss position for less than 12 months280,512 78,861 (692)(93)
12 months or greater
U.S. Government bonds and notes— 6,841 — (159)
Corporate bonds, commercial paper and notes5,937 16,619 (63)(365)
Total cash equivalents and marketable securities in a continuous unrealized loss position for 12 months or greater5,937 23,460 (63)(524)
Total cash equivalents and marketable securities in a continuous unrealized loss position$286,449 $102,321 $(755)$(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)June 30, 2024
Due in less than one year$260,505 
Due from one year through three years53,786 
Total$314,291