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Marketable Securities and Equity Investments (Tables)
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Marketable Securities
A summary of the Company’s cash equivalents and marketable securities, which are recorded at fair value (and do not include $2.4 billion and $2.8 billion of cash as of June 30, 2021 and December 31, 2020, respectively), is shown below:
As of June 30, 2021As of December 31, 2020
Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
(in thousands)
Cash equivalents:
Money market funds
$3,674,645 $— $— $3,674,645 $3,141,053 $— $— $3,141,053 
Commercial paper2,000 — — 2,000 — — — — 
Total cash equivalents
$3,676,645 $— $— $3,676,645 $3,141,053 $— $— $3,141,053 
Marketable securities:
U.S. Treasury securities$16,226 $— $(6)$16,220 $— $— $— $— 
Government-sponsored enterprise securities
62,356 19 — 62,375 80,046 17 — 80,063 
Corporate debt securities
135,770 46 (33)135,783 231,263 377 (42)231,598 
Commercial paper
275,807 43 (8)275,842 163,286 19 (37)163,268 
Total marketable debt securities
490,159 108 (47)490,220 474,595 413 (79)474,929 
Corporate equity securities
51,427 102,668 — 154,095 51,427 144,354 — 195,781 
Total marketable securities
$541,586 $102,776 $(47)$644,315 $526,022 $144,767 $(79)$670,710 
Available-for-sale debt securities were classified on the Company's condensed consolidated balance sheets at fair value as follows:
As of June 30, 2021As of December 31, 2020
(in thousands)
Cash and cash equivalents
$3,676,645 $3,141,053 
Marketable securities
490,220 474,929 
Total
$4,166,865 $3,615,982 
Available-for-sale debt securities by contractual maturity were as follows:
As of June 30, 2021As of December 31, 2020
(in thousands)
Matures within one year$4,131,731 $3,526,185 
Matures after one year through five years
35,134 89,797 
Total
$4,166,865 $3,615,982 
Schedule of Company's Net Unrealized Gains on Corporate Equity Securities During the three and six months ended June 30, 2021 and 2020, the Company’s net unrealized gains (losses) on corporate equity securities held at the conclusion of each period were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
(in thousands)
Net unrealized gains (losses)$10,609 $85,511 $(41,686)$35,191