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Marketable Securities
 6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities Marketable Securities
Marketable securities as of June 30, 2019 and December 31, 2018 consist of both available-for-sale debt securities of investment grade issuers (see below and Note 6) as well as equity securities of publicly traded companies (see Note 6).
The following tables summarize the Company's investments in available-for-sale debt securities:
 
 
Amortized
 
Unrealized
 
Fair
As of June 30, 2019
 
Cost Basis
 
Gains
 
Losses
 
Value
Corporate bonds
 
$
3,774.2

 
$
22.1

 
$
(1.7
)
 
$
3,794.6

U.S. government and government agency obligations
 
119.4

 
0.2

 
(0.2
)
 
119.4

Sovereign bonds
 
26.8

 
0.5

 
—

 
27.3

Commercial paper
 
99.6

 
0.1

 
—

 
99.7

Certificates of deposit
 
53.7

 
0.1

 
—

 
53.8

 
 
$
4,073.7

 
$
23.0

 
$
(1.9
)
 
$
4,094.8

 
 
 
 
 
 
 
 
 
As of December 31, 2018
 
 
 
 
 
 
 
 
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

The Company classifies its investments in available-for-sale debt securities based on their contractual maturity dates. The available-for-sale debt securities listed as of June 30, 2019 mature at various dates through June 2024. The fair values of available-for-sale debt security investments by contractual maturity consist of the following:
 
 
June 30,
2019
 
December 31,
2018
Maturities within one year
 
$
1,624.2

 
$
1,342.2

Maturities after one year through five years
 
2,470.6

 
1,667.0

 
 
$
4,094.8

 
$
3,009.2


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 June 30, 2019
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Corporate bonds
$
312.8

 
$
(0.2
)
 
$
564.7

 
$
(1.5
)
 
$
877.5

 
$
(1.7
)
U.S. government and government agency obligations
—

 
—

 
76.4

 
(0.2
)
 
76.4

 
(0.2
)
 
$
312.8

 
$
(0.2
)
 
$
641.1

 
$
(1.7
)
 
$
953.9

 
$
(1.9
)
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2018
 
 
 
 
 
 
 
 
 
 
 
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
)

There were no realized losses on sales of marketable securities, and realized gains were not material, for the three and six months ended June 30, 2019 and 2018.
With respect to marketable securities, for the three and six months ended June 30, 2019 and 2018, amounts reclassified from Accumulated other comprehensive (loss) income into Other income (expense), net were related to realized gains on sales of debt securities.