| 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 September 30, 2024 |
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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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$ |
1,324,798 |
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$ |
1,324,798 |
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$ |
1,324,798 |
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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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18,009 |
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18,009 |
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18,009 |
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— |
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— |
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U.S. Treasury securities |
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10,553 |
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10,553 |
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— |
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8,483 |
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2,070 |
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Mutual funds |
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N/A |
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4,469 |
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— |
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— |
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4,469 |
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Total level 1 |
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28,562 |
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33,031 |
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18,009 |
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8,483 |
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6,539 |
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Level 2 |
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Corporate notes and bonds |
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125,521 |
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125,521 |
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6,998 |
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83,545 |
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34,978 |
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Asset-backed securities |
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18,499 |
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18,499 |
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— |
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|
839 |
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17,660 |
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U.S. Agency securities |
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29,058 |
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29,058 |
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4,249 |
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20,928 |
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3,881 |
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Total level 2 |
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173,078 |
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173,078 |
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11,247 |
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105,312 |
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56,519 |
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Total |
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$ |
1,526,438 |
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$ |
1,530,907 |
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$ |
1,354,054 |
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$ |
113,795 |
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$ |
63,058 |
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As of December 31, 2023 |
|
(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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