MARKETABLE DEBT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable debt securities consisted of the following (in thousands):


	September 30, 2022		December 31, 2021
Marketable debt securities:
Commercial paper	$	132,541	$	127,379
Corporate debt securities	202,630		233,319
Securities of government sponsored entities	19,818		26,431
Total marketable debt securities	$	354,989	$	387,129

Schedule of available for sale securities

The following is a summary of short-term marketable debt securities classified as available-for-sale as of September 30, 2022 (in thousands):


	Remaining Contractual Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses		Aggregate Estimated Fair Value
Marketable debt securities:
Commercial paper	Less than 1	$	133,313	$	—	$	(772)	$	132,541
Corporate debt securities	Less than 1	160,540		—		(1,739)		158,801
Securities of government-sponsored entities	Less than 1	5,525		—		(114)		5,411
Total maturity less than 1 year		299,378		—		(2,625)		296,753
Corporate debt securities	1 to 2	44,678		—		(849)		43,829
Securities of government-sponsored entities	1 to 2	14,613		—		(206)		14,407
Total maturity 1 to 2 years		59,291		—		(1,055)		58,236
Total available-for-sale marketable debt securities		$	358,669	$	—	$	(3,680)	$	354,989

The following is a summary of short-term marketable debt securities classified as available-for-sale as of December 31, 2021 (in thousands):


	Remaining Contractual Maturity (in years)	Amortized Cost		Unrealized Gains		Unrealized Losses		Aggregate Estimated Fair Value
Marketable debt securities:
Commercial paper	Less than 1	$	127,435	$	—	$	(56)	$	127,379
Corporate debt securities	Less than 1	113,001		—		(98)		112,903
Securities of government-sponsored entities	Less than 1	21,909		—		(5)		21,904
Total maturity less than 1 year		262,345		—		(159)		262,186
Corporate debt securities	1 to 2	120,705		—		(289)		120,416
Securities of government-sponsored entities	1 to 2	4,549		—		(22)		4,527
Total maturity 1 to 2 years		125,254		—		(311)		124,943
Total available-for-sale securities		$	387,599	$	—	$	(470)	$	387,129

Schedule of marketable debt securities in an unrealized loss position

The following is a summary of available-for-sale marketable debt securities in an unrealized loss position with no credit losses reported as of September 30, 2022 (in thousands):


	Less Than 12 Months				12 Months or Greater				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Commercial paper	$	132,541	$	772	$	—	$	—	$	132,541	$	772
Corporate debt securities	142,689		2,140		59,941		448		202,630		2,588
Securities of government-sponsored entities	17,376		263		2,442		57		19,818		320
Total	$	292,606	$	3,175	$	62,383	$	505	$	354,989	$	3,680

The following is a summary of available-for-sale marketable debt securities in an unrealized loss position with no credit losses reported as of December 31, 2021 (in thousands):


	Less Than 12 Months				12 Months or Greater				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Commercial paper	$	122,380	$	56	$	—	$	—	$	122,380	$	56
Corporate debt securities	231,879		387		—		—		231,879		387
Securities of government-sponsored entities	26,431		27		—		—		26,431		27
Total	$	380,690	$	470	$	—	$	—	$	380,690	$	470