Cash and Investments in Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Cash and Investments in Marketable Securities, Including Cash Equivalents

Cash and investments in marketable securities, including cash equivalents, are as follows (in thousands):

	Estimated Fair Value at
	March 31, 2020		December 31, 2019
Cash and cash equivalents	$	227,035	$	96,363
Short-term investments	1,118,847		1,228,499
Long-term investments	185,900		279,119
Total cash and investments in marketable securities	$	1,531,782	$	1,603,981

Portfolio of Cash and Investments in Marketable Securities

Our portfolio of cash and investments in marketable securities includes (in thousands):

		March 31, 2020								December 31, 2019
	Fair Value Hierarchy Level	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Fair Value
Corporate notes and bonds	2	$	989,511	$	736	$	(4,010)	$	986,237	$	1,132,182
Corporate commercial paper	2	373,237		94		(108)		373,223		375,473
Available-for-sale investments		$	1,362,748	$	830	$	(4,118)	$	1,359,460	$	1,507,655
Money market funds	1							158,080		83,546
Certificates of deposit	N/A							8,248		6,951
Cash	N/A							5,994		5,829
Total cash and investments in marketable securities								$	1,531,782	$	1,603,981