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Cash Equivalents and Investments (Tables)
9 Months Ended
Sep. 30, 2023
Cash Equivalents and Investments [Abstract]  
Schedule of Unrealized Gains and Losses and Fair Value of Available-For-Sale Debt Securities
The following table summarizes the Company's unrealized gains and losses and fair value of investments designated as available-for-sale debt securities as of September 30, 2023 and December 31, 2022 (in millions):

As of September 30, 2023
As of December 31, 2022
Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Estimated Fair
Value
Amortized
Cost
Gross Unrealized
Gains
Gross Unrealized
Losses
Estimated Fair
Value
Fixed income securities:
Asset-backed and mortgage-backed securities$24.7 $— $(0.6)$24.1 $37.8 $— $(1.2)$36.6 
Corporate debt securities123.9 — (2.5)121.4 277.5 — (7.1)270.4 
Commercial paper20.9 — — 20.9 — — — — 
Foreign government debt securities
5.2 — (0.2)5.0 8.8 — (0.4)8.4 
Time deposits342.1 — — 342.1 70.6 — — 70.6 
U.S. government agency securities
8.0 — (0.1)7.9 18.6 — (0.6)18.0 
U.S. government securities17.4 — (0.1)17.3 9.0 — (0.2)8.8 
Total fixed income securities
542.2 — (3.5)538.7 422.3 — (9.5)412.8 
Privately-held debt and redeemable preferred stock securities20.7 37.4 — 58.1 15.5 37.4 — 52.9 
Total available-for-sale debt securities
$562.9 $37.4 $(3.5)$596.8 $437.8 $37.4 $(9.5)$465.7 
Reported as:
Cash equivalents$371.6 $— $— $371.6 $70.6 $— $— $70.6 
Short-term investments128.8 — (2.6)126.2 205.9 — (3.3)202.6 
Long-term investments41.8 — (0.9)40.9 145.8 — (6.2)139.6 
Other long-term assets20.7 37.4 — 58.1 15.5 37.4 — 52.9 
Total$562.9 $37.4 $(3.5)$596.8 $437.8 $37.4 $(9.5)$465.7 
Schedule of Maturities of Fixed Income Securities
The following table presents the contractual maturities of the Company's total fixed income securities as of September 30, 2023 (in millions):
 Amortized
Cost
Estimated Fair
Value
Due in less than one year$500.4 $497.8 
Due between one and five years41.8 40.9 
Total$542.2 $538.7 
Schedule of Investments in Equity Securities
The following table presents the Company's investments in equity securities as of September 30, 2023 and December 31, 2022 (in millions):
As of
September 30,
2023
December 31,
2022
Equity investments with readily determinable fair value:
Money market funds$558.7 $420.8 
Mutual funds35.0 28.1 
Publicly-traded equity securities7.4 7.7 
Equity investments without readily determinable fair value38.0 137.7 
Equity investment under the equity method of accounting30.1 36.0 
Total equity securities$669.2 $630.3 
Reported as:
Cash equivalents$558.7 $420.8 
Short-term investments7.4 7.7 
Prepaid expenses and other current assets3.0 2.4 
Other long-term assets100.1 199.4 
Total$669.2 $630.3 
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash included in the Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022 (in millions):
As of
September 30,
2023
December 31,
2022
Cash and cash equivalents$1,243.5 $880.1 
Restricted cash included in prepaid expenses and other current assets15.3 15.2 
Restricted cash included in other long-term assets2.4 2.4 
Total cash, cash equivalents, and restricted cash$1,261.2 $897.7