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FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Cash Equivalents and Available-for-Sale Securities by Significant Investment Category
The following tables show the Company’s cash, cash equivalents and available-for-sale securities by significant investment category as of December 31, 2023 and 2022, respectively:
December 31, 2023
Amortized CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate Fair ValueCash and Cash Equivalents
Short-term
Marketable
Securities (1)
Long-term
Marketable
Securities (2)
Level 1:
Cash$229,676 $— $— $229,676 $229,676 $— $— 
Level 2:
Money market instruments499,483 — — 499,483 499,483 — — 
Corporate debt securities587,896 3,476 (1,996)589,376 — 193,251 396,125 
U.S. government agency securities251,952 556 (1,140)251,368 19,976 111,343 120,049 
Commercial paper20,076 — 20,081 5,992 14,089 — 
Asset-backed securities94,744 351 (134)94,961 — — 94,961 
Subtotal1,454,151 4,388 (3,270)1,455,269 525,451 318,683 611,135 
Total$1,683,827 $4,388 $(3,270)$1,684,945 $755,127 $318,683 $611,135 

December 31, 2022
Amortized CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate Fair ValueCash and Cash Equivalents
Short-term
Marketable
Securities (1)
Long-term
Marketable
Securities (2)
Level 1:
Cash$463,248 $— $— $463,248 $463,248 $— $— 
Level 2:
Money market instruments248,933 — — 248,933 248,933 — — 
Corporate debt securities504,984 34 (11,541)493,477 1,881 299,153 192,443 
U.S. government agency securities312,720 45 (3,771)308,994 — 229,846 79,148 
Commercial paper48,103 11 (22)48,092 10,469 37,623 — 
Asset-backed securities63,151 69 (592)62,628 — 384 62,244 
Subtotal1,177,891 159 (15,926)1,162,124 261,283 567,006 333,835 
Total$1,641,139 $159 $(15,926)$1,625,372 $724,531 $567,006 $333,835 
(1)The Company’s short-term marketable securities mature in one year or less.
(2)The Company’s long-term marketable securities mature between one and five years.