Cash and Investments in Marketable Securities (Tables)

6 Months Ended

Jun. 30, 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
	June 30, 2020		December 31, 2019
Cash and cash equivalents	$	58,206	$	96,363
Short-term investments	980,191		1,228,499
Long-term investments	172,166		279,119
Total cash and investments in marketable securities	$	1,210,563	$	1,603,981

Portfolio of Cash and Investments in Marketable Securities

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

		June 30, 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	$	893,901	$	4,095	$	(143)	$	897,853	$	1,132,182
Corporate commercial paper	2	235,811		475		(26)		236,260		375,473
Obligations of U.S. government agencies	2	9,995		—		(1)		9,994		—
Available-for-sale investments		$	1,139,707	$	4,570	$	(170)	$	1,144,107	$	1,507,655
Money market funds	1							52,135		83,546
Certificates of deposit	N/A							8,250		6,951
Cash	N/A							6,071		5,829
Total cash and investments in marketable securities								$	1,210,563	$	1,603,981