XML 50 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Marketable Securities (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale Debt Securities
The following tables summarize the Company's investments in available-for-sale debt securities:
 
 
Amortized
 
Unrealized
 
Fair
As of December 31, 2018
 
Cost Basis
 
Gains
 
Losses
 
Value
Available-for-sale debt securities:
 
 
 
 
 
 
 
 
Corporate bonds
 
$
2,734.8

 
$
1.0

 
$
(17.4
)
 
$
2,718.4

U.S. government and government agency obligations
 
110.4

 
—

 
(1.0
)
 
109.4

Sovereign bonds
 
7.6

 
—

 
—

 
7.6

Commercial paper
 
113.8

 
—

 
—

 
113.8

Certificates of deposit
 
60.0

 
—

 
—

 
60.0

 
 
$
3,026.6

 
$
1.0

 
$
(18.4
)
 
$
3,009.2

As of December 31, 2017
 
 
 
 
 
 
 
 
Available-for-sale debt securities:
 
 
 
 
 
 
 
 
Corporate bonds
 
$
1,718.0

 
$
2.2

 
$
(7.7
)
 
$
1,712.5

U.S. government and government agency obligations
 
186.7

 
—

 
(1.2
)
 
185.5

Municipal and sovereign bonds
 
4.6

 
—

 
—

 
4.6

Commercial paper
 
107.0

 
—

 
—

 
107.0

Certificates of deposit
 
11.0

 
—

 
—

 
11.0

 
 
$
2,027.3

 
$
2.2

 
$
(8.9
)
 
$
2,020.6
Marketable Securities, Based on Contractual Maturity Dates
The fair values of available-for-sale debt security investments by contractual maturity consist of the following:
 
 
As of December 31,
 
 
2018
 
2017
Maturities within one year
 
$
1,342.2

 
$
593.8

Maturities after one year through five years
 
1,667.0

 
1,426.8

 
 
$
3,009.2

 
$
2,020.6
Fair Value and Unrealized Losses of Marketable Securities
The following table shows the fair value of the Company's available-for-sale debt securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position.
 
Less than 12 Months
 
12 Months or Greater
 
Total
As of December 31, 2018
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Corporate bonds
$
1,482.6

 
$
(6.1
)
 
$
801.6

 
$
(11.3
)
 
$
2,284.2

 
$
(17.4
)
U.S. government and government agency obligations
—

 
—

 
99.1

 
(1.0
)
 
99.1

 
(1.0
)
 
$
1,482.6

 
$
(6.1
)
 
$
900.7

 
$
(12.3
)
 
$
2,383.3

 
$
(18.4
)
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
931.0

 
$
(4.9
)
 
$
256.8

 
$
(2.8
)
 
$
1,187.8

 
$
(7.7
)
U.S. government and government agency obligations
110.5

 
(0.4
)
 
67.9

 
(0.8
)
 
178.4

 
(1.2
)
 
$
1,041.5

 
$
(5.3
)
 
$
324.7

 
$
(3.6
)
 
$
1,366.2

 
$
(8.9
)