| 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, 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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$ |
996,207 |
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$ |
996,207 |
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$ |
996,207 |
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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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92,960 |
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92,960 |
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92,960 |
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— |
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— |
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U.S. Treasury securities |
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5,161 |
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5,161 |
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— |
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5,161 |
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— |
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Mutual funds |
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N/A |
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8,423 |
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— |
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— |
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8,423 |
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Total level 1 |
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98,121 |
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106,544 |
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92,960 |
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5,161 |
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8,423 |
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Level 2 |
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Corporate notes and bonds |
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87,026 |
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87,026 |
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4,989 |
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51,450 |
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30,587 |
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Asset-backed securities |
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11,381 |
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11,381 |
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— |
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292 |
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11,089 |
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U.S. Agency securities |
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18,631 |
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18,631 |
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6,245 |
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7,162 |
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5,224 |
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Total level 2 |
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117,038 |
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117,038 |
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11,234 |
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58,904 |
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46,900 |
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Total |
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$ |
1,211,366 |
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$ |
1,219,789 |
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$ |
1,100,401 |
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$ |
64,065 |
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$ |
55,323 |
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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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