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Marketable Securities (Tables)
 9 Months Ended
Sep. 30, 2019
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 September 30, 2019
 
Cost Basis
 
Gains
 
Losses
 
Value
Corporate bonds
 
$
3,880.6

 
$
27.0

 
$
(0.6
)
 
$
3,907.0

U.S. government and government agency obligations
 
65.9

 
0.2

 
(0.1
)
 
66.0

Sovereign bonds
 
26.9

 
0.5

 
—

 
27.4

Commercial paper
 
108.8

 
—

 
—

 
108.8

Certificates of deposit
 
66.7

 
0.1

 
—

 
66.8

 
 
$
4,148.9

 
$
27.8

 
$
(0.7
)
 
$
4,176.0

 
 
 
 
 
 
 
 
 
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
Marketable Securities, Based on Contractual Maturity Dates The fair values of available-for-sale debt security investments by contractual maturity consist of the following:
 
 
September 30,
 
December 31,
 
 
2019
 
2018
Maturities within one year
 
$
1,493.1

 
$
1,342.2

Maturities after one year through five years
 
2,682.9

 
1,667.0

 
 
$
4,176.0

 
$
3,009.2
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 September 30, 2019
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Corporate bonds
$
294.8

 
$
(0.3
)
 
$
216.3

 
$
(0.3
)
 
$
511.1

 
$
(0.6
)
U.S. government and government agency obligations
18.5

 
(0.1
)
 
19.5

 
—

 
38.0

 
(0.1
)
 
$
313.3

 
$
(0.4
)
 
$
235.8

 
$
(0.3
)
 
$
549.1

 
$
(0.7
)
 
 
 
 
 
 
 
 
 
 
 
 
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
)