Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value on Recurring Basis

The following table presents our fair value hierarchy for our assets measured at fair value on a recurring basis as of June 30, 2020 (in thousands): 

	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	489,607	$	—	$	489,607
Commercial paper	—		47,691		47,691
Corporate notes and bonds	—		20,944		20,944
Certificates of deposit	—		5,002		5,002
U.S. government and agency securities	—		28,228		28,228
Marketable securities:
Commercial paper	—		415,103		415,103
Corporate notes and bonds	—		1,586,235		1,586,235
Certificates of deposit	—		20,098		20,098
U.S. government and agency securities	—		260,733		260,733
Total	$	489,607	$	2,384,034	$	2,873,641

The following table presents our fair value hierarchy for our assets measured at fair value on a recurring basis as of December 31, 2019 (in thousands): 

	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	486,982	$	—	$	486,982
Commercial paper	—		86,388		86,388
Marketable securities:
Commercial paper	—		101,490		101,490
Corporate notes and bonds	—		1,661,330		1,661,330
Certificates of deposit	—		38,045		38,045
U.S. government and agency securities	—		127,784		127,784
Total	$	486,982	$	2,015,037	$	2,502,019