| Summary of Cash, Cash Equivalents, Short-Term and Long-Term Investments by Significant Investment Category |
The following tables show the Company’s cash, cash equivalents, short-term and long-term investments by significant investment category:
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As of December 31, 2023 |
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(in thousands) |
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Adjusted Cost |
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Fair Value |
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Cash and Cash Equivalents |
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Short-Term Investments |
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Long-Term Investments |
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Cash |
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$ |
972,278 |
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$ |
972,278 |
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$ |
972,278 |
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$ |
— |
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$ |
— |
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Level 1 |
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Money market funds |
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176,317 |
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176,317 |
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176,317 |
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— |
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— |
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U.S. Treasury securities |
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39,769 |
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39,769 |
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29,942 |
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9,827 |
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— |
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Mutual funds |
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N/A |
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8,535 |
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— |
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— |
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8,535 |
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Total level 1 |
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216,086 |
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224,621 |
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206,259 |
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9,827 |
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8,535 |
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Level 2 |
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Corporate notes and bonds |
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97,795 |
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97,795 |
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9,374 |
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50,949 |
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37,472 |
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Asset-backed securities |
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11,159 |
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11,159 |
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— |
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— |
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11,159 |
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U.S. Agency securities |
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27,269 |
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27,269 |
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1,999 |
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11,819 |
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13,451 |
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Total level 2 |
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136,223 |
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136,223 |
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11,373 |
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62,768 |
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62,082 |
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Total |
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$ |
1,324,587 |
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$ |
1,333,122 |
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$ |
1,189,910 |
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$ |
72,595 |
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$ |
70,617 |
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As of December 31, 2022 |
|
(in thousands) |
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Adjusted Cost |
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|
Fair Value |
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Cash and Cash Equivalents |
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Short-Term Investments |
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Long-Term Investments |
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Cash |
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$ |
539,730 |
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$ |
539,730 |
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$ |
539,730 |
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$ |
— |
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$ |
— |
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Level 1 |
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Money market funds |
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71,503 |
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71,503 |
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71,503 |
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— |
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— |
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U.S. Treasury securities |
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18,201 |
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18,201 |
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2,000 |
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16,201 |
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— |
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Mutual funds |
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N/A |
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5,893 |
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— |
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— |
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5,893 |
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Total level 1 |
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89,704 |
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95,597 |
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73,503 |
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16,201 |
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5,893 |
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Level 2 |
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Corporate notes and bonds |
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101,959 |
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101,959 |
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2,500 |
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85,731 |
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13,728 |
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Asset-backed securities |
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4,641 |
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4,641 |
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— |
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|
234 |
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4,407 |
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Total level 2 |
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106,600 |
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106,600 |
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2,500 |
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85,965 |
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18,135 |
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Total |
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$ |
736,034 |
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$ |
741,927 |
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$ |
615,733 |
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$ |
102,166 |
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$ |
24,028 |
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