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Marketable Securities and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Summary of Available-for-Sale Marketable Securities
The following is a summary of the Company’s available-for-sale marketable securities measured at fair value on a recurring basis.
June 30, 2022
(dollars in millions)
Valuation
Hierarchy
Effective
Maturity
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Corporate bondsLevel 2
2022 - 2023
$824.5 $— $(8.0)$816.5 
Corporate bondsLevel 2
2023 - 2025
363.3 — (13.0)350.3 
Government securitiesLevel 2
2022 - 2023
79.9 — (0.8)79.1 
Government securitiesLevel 2
2023 - 2024
4.3 — (0.2)4.1 
Total$1,272.0 $— $(22.0)$1,250.0 
 December 31, 2021
(dollars in millions)
Valuation
Hierarchy
Effective
Maturity
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Corporate bondsLevel 2
2022
$784.0 $— $(0.7)$783.3 
Corporate bondsLevel 2
2023 - 2024
582.5 — (3.8)578.7 
Government securitiesLevel 2
2022
32.4 — (0.1)32.3 
Total $1,398.9 $— $(4.6)$1,394.3