Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Marketable Securities

Available-for-sale marketable securities held as of June 30, 2023 and December 31, 2022 were as follows (in thousands):

							Classification on Balance Sheet
	Amortized Cost		Gross Unrealized Losses		Aggregate Fair Value		Short-Term Marketable Securities		Long-Term Marketable Securities
As of June 30, 2023
Commercial paper	$	973	$	(3)	$	970	$	970	$	—
Corporate bonds	493,528		(12,986)		480,542		280,980		199,562
U.S. government agency obligations	243,775		(5,576)		238,199		209,676		28,523
	$	738,276	$	(18,565)	$	719,711	$	491,626	$	228,085
As of December 31, 2022
Time deposits	$	19,530	$	—	$	19,530	$	19,530	$	—
Corporate bonds	624,082		(21,029)		603,053		362,458		240,595
U.S. government agency obligations	252,573		(10,391)		242,182		180,320		61,862
	$	896,185	$	(31,420)	$	864,765	$	562,308	$	302,457

Schedule of Fair Value Measurement Within Fair Value Hierarchy

The fair value measurements within the fair value hierarchy of the Company’s financial assets as of June 30, 2023 and December 31, 2022 were as follows (in thousands):

	Total Fair Value		Fair Value Measurements at Reporting Date Using
			Level 1		Level 2
As of June 30, 2023
Cash Equivalents and Marketable Securities:
Money market funds	$	2,730	$	2,730	$	—
Time deposits	25,591		—		25,591
Commercial paper	970		—		970
Corporate bonds	480,542		—		480,542
U.S. government agency obligations	238,199		—		238,199
Mutual funds	21,447		21,447		—
	$	769,479	$	24,177	$	745,302
As of December 31, 2022
Cash Equivalents and Marketable Securities:
Money market funds	$	999	$	999	$	—
Time deposits	285,830		—		285,830
Corporate bonds	603,053		—		603,053
U.S. government agency obligations	242,182		—		242,182
Mutual funds	18,745		18,745		—
	$	1,150,809	$	19,744	$	1,131,065

Schedule of Contractual Maturities of Marketable Securities and Other Investment Related Assets

Contractual maturities of the Company’s available-for-sale marketable securities held as of June 30, 2023 and December 31, 2022 were as follows (in thousands):

	June 30, 2023		December 31, 2022
Due in 1 year or less	$	491,626	$	562,308
Due after 1 year through 5 years	228,085		302,457
	$	719,711	$	864,765