Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

Assets measured at fair value on a recurring basis are summarized below (in thousands):

	Fair Value Measurements as of September 30, 2021
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds and bond funds	$	49,129	$	—	$	49,129	$	—
Commercial paper		591,544		—		591,544		—
	$	640,673	$	—	$	640,673	$	—
Cash and Cash Equivalents		271,831		271,831		—		—
Total Assets Measured at Fair Value	$	912,504	$	271,831	$	640,673	$	—

	Fair Value Measurements as of December 31, 2020
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds and bond funds	$	117,928	$	—	$	117,928	$	—
Commercial paper		492,257		—		492,257		—
	$	610,185	$	—	$	610,185	$	—
Cash and Cash Equivalents		215,723		215,723		—		—
Total Assets Measured at Fair Value	$	825,908	$	215,723	$	610,185	$	—