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Marketable Securities and Equity Investments (Tables)
 9 Months Ended
Sep. 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 $2.7 billion and $2.8 billion of cash as of September 30, 2021 and December 31, 2020, respectively), is shown below:
As of September 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
$3,578,764 $— $— $3,578,764 $3,141,053 $— $— $3,141,053 
Commercial paper31,997 1 — 31,998 — — — — 
Total cash equivalents
$3,610,761 $1 $— $3,610,762 $3,141,053 $— $— $3,141,053 
Marketable securities:
U.S. Treasury securities$46,536 $4 $(1)$46,539 $— $— $— $— 
Government-sponsored enterprise securities
68,996 8 (2)69,002 80,046 17 — 80,063 
Corporate debt securities
95,385 26 (52)95,359 231,263 377 (42)231,598 
Commercial paper
255,501 40 (18)255,523 163,286 19 (37)163,268 
Total marketable debt securities
466,418 78 (73)466,423 474,595 413 (79)474,929 
Corporate equity securities
69,418 150,263 (917)218,764 51,427 144,354 — 195,781 
Total marketable securities
$535,836 $150,341 $(990)$685,187 $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 September 30, 2021As of December 31, 2020
(in thousands)
Cash and cash equivalents
$3,610,762 $3,141,053 
Marketable securities
466,423 474,929 
Total
$4,077,185 $3,615,982 
Available-for-sale debt securities by contractual maturity were as follows:
As of September 30, 2021As of December 31, 2020
(in thousands)
Matures within one year$4,014,441 $3,526,185 
Matures after one year through five years
62,744 89,797 
Total
$4,077,185 $3,615,982 
Schedule of Company's Net Unrealized Gains on Corporate Equity Securities During the three and nine months ended September 30, 2021 and 2020, the Company’s net unrealized gains on corporate equity securities held at the conclusion of each period were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(in thousands)
Net unrealized gains $46,679 $69,834 $4,993 $102,317