Components of available-for-sale marketable securities |
Available-for-sale marketable securities consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | Commercial paper | $ | 296,309 | | | $ | 71 | | | $ | (587) | | | $ | 295,793 | | | | | | | | | | Corporate debt securities | 7,472 | | | — | | | (26) | | | 7,446 | | US government agencies | 23,970 | | | — | | | (182) | | | 23,788 | | US Treasury securities | 67,904 | | | — | | | (629) | | | 67,275 | | | $ | 395,655 | | | $ | 71 | | | $ | (1,424) | | | $ | 394,302 | |
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Schedule of fair value, assets and liabilities measured on recurring basis |
The following table summarizes, by major security type, our cash equivalents and available-for-sale marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | December 31, 2021 | | Level 1 | | Level 2 | | Total estimated fair value | | Level 1 | | Level 2 | | Total estimated fair value | Cash equivalents: | | | | | | | | | | | | Money market funds | $ | 26,811 | | | $ | — | | | $ | 26,811 | | | $ | 43,653 | | | $ | — | | | $ | 43,653 | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial paper | 1,998 | | | — | | | 1,998 | | | — | | | — | | | — | | Total cash equivalents: | 28,809 | | | — | | | 28,809 | | | 43,653 | | | — | | | 43,653 | | | | | | | | | | | | | | Available-for-sale marketable securities: | | | | | | | | | | | | Commercial paper | — | | | 295,793 | | | 295,793 | | | — | | | 199,277 | | | 199,277 | | Corporate debt securities | — | | | 7,446 | | | 7,446 | | | — | | | 10,078 | | | 10,078 | | US government agencies | — | | | 23,788 | | | 23,788 | | | — | | | 20,033 | | | 20,033 | | US Treasury securities | 67,275 | | | — | | | 67,275 | | | 50,785 | | | — | | | 50,785 | | Total available-for-sale marketable securities: | 67,275 | | | 327,027 | | | 394,302 | | | 50,785 | | | 229,388 | | | 280,173 | | | | | | | | | | | | | | Total assets measured at fair value | $ | 96,084 | | | $ | 327,027 | | | $ | 423,111 | | | $ | 94,438 | | | $ | 229,388 | | | $ | 323,826 | |
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