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Investments (Tables)
9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Short-Term Investments
The following tables summarize the Company’s short-term investments (in thousands):

As of September 30, 2023
MaturityAmortized costGross unrealized gainsGross unrealized lossesEstimated fair value
Corporate debt securities
2 years or less
$131,273 $— $(387)$130,886 
Commercial paper
1 year or less
275,067 (328)274,741 
U.S. Agency bonds
2 years or less
244,277 52 (689)243,640 
U.S. Treasury bills
2 years or less
68,606 — (157)68,449 
$719,223 $54 $(1,561)$717,716 

As of December 31, 2022
Maturity Amortized costGross unrealized gainsGross unrealized lossesEstimated fair value
Corporate debt securities
2 years or less
$95,195 $— $(662)$94,533 
Commercial paper
1 year or less
443,489 65 (811)442,743 
U.S. Agency bonds
2 years or less
90,351 22 (434)89,939 
U.S. Treasury bills
2 years or less
223,216 (1,862)221,362 
$852,251 $95 $(3,769)$848,577