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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Subject to Fair Value Measurements
The following tables set forth our financial assets and liabilities subject to fair value measurements by level within the fair value hierarchy (and does not include $3.5 billion and $3.3 billion of cash as of June 30, 2022 and December 31, 2021, respectively):
As of June 30, 2022As of December 31, 2021
Total
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
(in millions)
Financial instruments carried at fair value (asset positions):
Cash equivalents:
Money market funds
$5,186.8 $5,186.8 $— $— $3,478.1 $3,478.1 $— $— 
Commercial paper16.2 — 16.2 — — — — — 
Marketable securities:
Corporate equity securities71.1 71.1 — — 230.9 230.9 — — 
U.S. Treasury securities153.5 153.5 — — 86.4 86.4 — — 
Government-sponsored enterprise securities
10.5 10.5 — — 69.0 69.0 — — 
Corporate debt securities
75.0 — 75.0 — 90.9 — 90.9 — 
Commercial paper
241.1 — 241.1 — 252.7 — 252.7 — 
Prepaid expenses and other current assets:
Foreign currency forward contracts118.9 — 118.9 — 44.5 — 44.5 — 
Other assets:
Foreign currency forward contracts6.9 — 6.9 — 2.0 — 2.0 — 
Total financial assets
$5,880.0 $5,421.9 $458.1 $— $4,254.5 $3,864.4 $390.1 $— 
Financial instruments carried at fair value (liability positions):
Other current liabilities:
Foreign currency forward contracts
$(0.1)$— $(0.1)$— $(5.6)$— $(5.6)$— 
Long-term contingent consideration
(129.8)— — (129.8)(186.5)— — (186.5)
Other long-term liabilities:
Foreign currency forward contracts
(0.0)— (0.0)— (2.7)— (2.7)— 
Total financial liabilities
$(129.9)$— $(0.1)$(129.8)$(194.8)$— $(8.3)$(186.5)
Schedule of Fair Value of Our Contingent Consideration Liabilities
The following table represents a rollforward of the fair value of our contingent consideration liabilities:
Six Months Ended June 30, 2022
(in millions)
Balance at December 31, 2021$186.5 
Decrease in fair value of contingent payments
(56.7)
Balance at June 30, 2022$129.8