| 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): | | | | | | | | | | | | | | | | | | | March 31, 2026 | | Level 1 | | Level 2 | | Total | | Commercial paper | $ | — | | | $ | 207,972 | | | $ | 207,972 | | | Corporate bonds | — | | | 889,818 | | | 889,818 | | | U.S. Treasury and government-sponsored enterprises | — | | | 159,434 | | | 159,434 | | | Municipal bonds | — | | | 8,725 | | | 8,725 | | | Total debt securities available-for-sale | — | | | 1,265,949 | | | 1,265,949 | | | Money market funds | 97,686 | | | — | | | 97,686 | | | Certificates of deposit | — | | | 62,716 | | | 62,716 | | | Total financial assets carried at fair value | $ | 97,686 | | | $ | 1,328,665 | | | $ | 1,426,351 | | | | | | | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | Level 1 | | Level 2 | | Total | | Commercial paper | $ | — | | | $ | 241,439 | | | $ | 241,439 | | | Corporate bonds | — | | | 886,500 | | | 886,500 | | | U.S. Treasury and government-sponsored enterprises | — | | | 155,139 | | | 155,139 | | | Municipal bonds | — | | | 8,764 | | | 8,764 | | | Total debt securities available-for-sale | — | | | 1,291,842 | | | 1,291,842 | | | Money market funds | 304,352 | | | — | | | 304,352 | | | Certificates of deposit | — | | | 66,388 | | | 66,388 | | | Total financial assets carried at fair value | $ | 304,352 | | | $ | 1,358,230 | | | $ | 1,662,582 | | | | | | | |
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