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Marketable Securities
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities Marketable Securities
Marketable securities as of December 31, 2019 and 2018 consist of both available-for-sale debt securities of investment grade issuers (see below and Note 5) as well as equity securities of publicly traded companies (see Note 5).
The following tables summarize the Company's investments in available-for-sale debt securities:
 
 
Amortized
 
Unrealized
 
Fair
As of December 31, 2019
 
Cost Basis
 
Gains
 
Losses
 
Value
Corporate bonds
 
$
3,960.5

 
$
27.8

 
$
(0.2
)
 
$
3,988.1

U.S. government and government agency obligations
 
54.3

 
0.2

 
(0.1
)
 
54.4

Sovereign bonds
 
26.9

 
0.4

 
—

 
27.3

Commercial paper
 
92.3

 
—

 
—

 
92.3

Certificates of deposit
 
72.3

 
0.1

 
—

 
72.4

 
 
$
4,206.3

 
$
28.5

 
$
(0.3
)
 
$
4,234.5

 
 
 
 
 
 
 
 
 
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 December 31, 2019 mature at various dates through December 2024. The fair values of available-for-sale debt security investments by contractual maturity consist of the following:
 
 
As of December 31,
 
 
2019
 
2018
Maturities within one year
 
$
1,596.5

 
$
1,342.2

Maturities after one year through five years
 
2,638.0

 
1,667.0

 
 
$
4,234.5

 
$
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 December 31, 2019
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Corporate bonds
$
257.2

 
$
(0.2
)
 
$
41.1

 
$
—

 
$
298.3

 
$
(0.2
)
U.S. government and government agency obligations
17.3

 
(0.1
)
 
2.0

 
—

 
19.3

 
(0.1
)
 
$
274.5

 
$
(0.3
)
 
$
43.1

 
$
—

 
$
317.6

 
$
(0.3
)
 
 
 
 
 
 
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 year ended December 31, 2019. Realized gains and losses on sales of marketable securities were not material for the years ended December 31, 2018 and 2017.
With respect to marketable securities, for the years ended December 31, 2019, 2018, and 2017, amounts reclassified from Accumulated other comprehensive income (loss) into Other income (expense), net were related to realized gains and losses on sales of securities (as described above).