| Summary Of Assets And Liabilities That Are Measured At Fair Value On A Recurring And Nonrecurring Basis |
The following tables present the Company’s assets that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | As of September 30, 2024 | | Total | | Level 1 | | Level 2 | | Level 3 | | Assets: | | | | | | | | | Cash and cash equivalents: | | | | | | | | | Money market funds | $ | 536,900 | | | $ | 536,900 | | | $ | — | | | $ | — | | | Prepaid expenses and other current assets and other assets: | | | | | | | | | Certificates of deposit | 4,814 | | | — | | | 4,814 | | | — | | | Marketable securities: | | | | | | | | | U.S. Treasury securities | 3,787,649 | | | — | | | 3,787,649 | | | — | | | Publicly-traded equity securities | 8,300 | | | 8,300 | | | — | | | — | | | Total | $ | 4,337,663 | | | $ | 545,200 | | | $ | 3,792,463 | | | $ | — | | | | | | | | | | | As of December 31, 2023 | | Total | | Level 1 | | Level 2 | | Level 3 | | Assets: | | | | | | | | | Cash and cash equivalents: | | | | | | | | | Money market funds | $ | 576,565 | | | $ | 576,565 | | | $ | — | | | $ | — | | | U.S Treasury securities | 10,079 | | | — | | | 10,079 | | | — | | | Certificates of deposit | 938 | | | — | | | 938 | | | — | | | Prepaid expenses and other current assets and other assets: | | | | | | | | | Certificates of deposit | 4,777 | | | — | | | 4,777 | | | — | | | Marketable securities: | | | | | | | | | U.S. Treasury securities | 2,824,861 | | | — | | | 2,824,861 | | | — | | | Publicly-traded equity securities | 18,271 | | | 18,271 | | | — | | | — | | | Total | $ | 3,435,491 | | | $ | 594,836 | | | $ | 2,840,655 | | | $ | — | |
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| Debt Securities, Available-for-Sale |
As of September 30, 2024, available-for-sale debt securities, all of which are included in marketable securities on the condensed consolidated balance sheet, consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | As of September 30, 2024 | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | U.S. Treasury securities | $ | 3,784,795 | | | $ | 2,888 | | | $ | (34) | | | $ | 3,787,649 | | | Total debt securities | $ | 3,784,795 | | | $ | 2,888 | | | $ | (34) | | | $ | 3,787,649 | |
As of December 31, 2023, available-for-sale debt securities consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2023 | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | U.S. Treasury securities | $ | 2,831,505 | | | $ | 4,520 | | | $ | (1,085) | | | $ | 2,834,940 | | | Total debt securities | $ | 2,831,505 | | | $ | 4,520 | | | $ | (1,085) | | | $ | 2,834,940 | | | Included in cash and cash equivalents | $ | 10,078 | | | $ | 1 | | | $ | — | | | $ | 10,079 | | | Included in marketable securities | $ | 2,821,427 | | | $ | 4,519 | | | $ | (1,085) | | | $ | 2,824,861 | |
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