| Schedule of Fair Value of Financial Assets Measured on a Recurring Basis |
The classifications within the fair value hierarchy of our financial assets that were measured and recorded at fair value on a recurring basis were as follows (in thousands): | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Level 1 | | Level 2 | | Total | | Commercial paper | $ | — | | | $ | 166,146 | | | $ | 166,146 | | | Corporate bonds | — | | | 921,130 | | | 921,130 | | | U.S. Treasury and government-sponsored enterprises | — | | | 177,480 | | | 177,480 | | | Municipal bonds | — | | | 3,872 | | | 3,872 | | | Total debt securities available-for-sale | — | | | 1,268,628 | | | 1,268,628 | | | Money market funds | 43,352 | | | — | | | 43,352 | | | Certificates of deposit | — | | | 73,770 | | | 73,770 | | | Total financial assets carried at fair value | $ | 43,352 | | | $ | 1,342,398 | | | $ | 1,385,750 | | | | | | | |
| | | | | | | | | | | | | | | | | | | December 31, 2024 | | Level 1 | | Level 2 | | Total | | Commercial paper | $ | — | | | $ | 172,891 | | | $ | 172,891 | | | Corporate bonds | — | | | 1,011,366 | | | 1,011,366 | | | U.S. Treasury and government-sponsored enterprises | — | | | 338,393 | | | 338,393 | | | Municipal bonds | — | | | 3,001 | | | 3,001 | | | Total debt securities available-for-sale | — | | | 1,525,651 | | | 1,525,651 | | | Money market funds | 145,690 | | | — | | | 145,690 | | | Certificates of deposit | — | | | 77,226 | | | 77,226 | | | Total financial assets carried at fair value | $ | 145,690 | | | $ | 1,602,877 | | | $ | 1,748,567 | | | | | | | |
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