Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following table provides a summary of assets and liabilities measured at fair value on a recurring basis and as reported in the Condensed Consolidated Balance Sheets (in millions):

	Fair Value Measurements at June 30, 2020										Fair Value Measurements at December 31, 2019
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)			Significant Other Unobservable Remaining Inputs (Level 3)		Total			Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)			Significant Other Unobservable Remaining Inputs (Level 3)		Total
Assets:
Available-for-sale debt securities:
Asset-backed securities	$	—	$	74.4		$	—	$	74.4		$	—	$	81.4		$	—	$	81.4
Certificates of deposit	—		34.6			—		34.6			—		38.6			—		38.6
Commercial paper	—		74.2			—		74.2			—		168.2			—		168.2
Corporate debt securities	—		594.8			—		594.8			—		605.5			—		605.5
Foreign government debt securities	—		8.0			—		8.0			—		11.4			—		11.4
Time deposits	—		169.9			—		169.9			—		226.3			—		226.3
U.S. government agency securities	—		51.8			—		51.8			—		89.0			—		89.0
U.S. government securities	261.5		143.5			—		405.0			318.9		75.6			—		394.5
Privately-held debt and redeemable preferred stock securities	—		—			56.7		56.7			—		—			56.5		56.5
Total available-for-sale debt securities	261.5		1,151.2			56.7		1,469.4			318.9		1,296.0			56.5		1,671.4
Equity securities:
Money market funds	759.0		—			—		759.0			446.4		—			—		446.4
Mutual funds	25.2		—			—		25.2			26.8		—			—		26.8
Publicly-traded equity securities	4.8		—			—		4.8			3.8		—			—		3.8
Total equity securities	789.0		—			—		789.0			477.0		—			—		477.0
Derivative assets:
Foreign exchange contracts	—		5.7			—		5.7			—		2.5			—		2.5
Interest rate contracts	—		33.7			—		33.7			—		—			—		—
Total derivative assets	—		39.4			—		39.4			—		2.5			—		2.5
Total assets measured at fair value on a recurring basis	$	1,050.5	$	1,190.6		$	56.7	$	2,297.8		$	795.9	$	1,298.5		$	56.5	$	2,150.9
Liabilities:
Derivative liabilities:
Foreign exchange contracts	$	—	$	(11.6	)	$	—	$	(11.6	)	$	—	$	(6.8	)	$	—	$	(6.8	)
Interest rate contracts	—		(2.6		)	—		(2.6		)	—		(3.1		)	—		(3.1		)
Total derivative liabilities	—		(14.2		)	—		(14.2		)	—		(9.9		)	—		(9.9		)
Total liabilities measured at fair value on a recurring basis	$	—	$	(14.2	)	$	—	$	(14.2	)	$	—	$	(9.9	)	$	—	$	(9.9	)

	Fair Value Measurements at June 30, 2020										Fair Value Measurements at December 31, 2019
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)			Significant Other Unobservable Remaining Inputs (Level 3)		Total			Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)			Significant Other Unobservable Remaining Inputs (Level 3)		Total
Total assets, reported as:
Cash equivalents	$	755.0	$	307.5		$	—	$	1,062.5		$	442.3	$	290.9		$	—	$	733.2
Short-term investments	122.6		275.0			—		397.6			188.8		549.2			—		738.0
Long-term investments	143.7		568.7			—		712.4			133.9		455.9			—		589.8
Prepaid expenses and other current assets	7.1		5.7			—		12.8			4.1		2.5			—		6.6
Other long-term assets	22.1		33.7			56.7		112.5			26.8		—			56.5		83.3
Total assets measured at fair value	$	1,050.5	$	1,190.6		$	56.7	$	2,297.8		$	795.9	$	1,298.5		$	56.5	$	2,150.9
Total liabilities, reported as:
Other accrued liabilities	$	—	$	(11.6	)	$	—	$	(11.6	)	$	—	$	(6.8	)	$	—	$	(6.8	)
Other long-term liabilities	—		(2.6		)	—		(2.6		)	—		(3.1		)	—		(3.1		)
Total liabilities measured at fair value on a recurring basis	$	—	$	(14.2	)	$	—	$	(14.2	)	$	—	$	(9.9	)	$	—	$	(9.9	)