Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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 $3.3 billion and $3.1 billion of cash as of December 31, 2023 and 2022, respectively):

	As of December 31, 2023								As of December 31, 2022
			Fair Value Hierarchy								Fair Value Hierarchy
	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	$	5,328.4	$	5,328.4	$	—	$	—	$	5,162.6	$	5,162.6	$	—	$	—
Time deposits	1,450.0		—		1,450.0		—		2,000.0		—		2,000.0		—
U.S. Treasury securities	68.9		68.9		—		—		—		—		—		—
Government-sponsored enterprise securities	174.8		—		174.8		—		—		—		—		—
Corporate debt securities	5.2		—		5.2		—		5.8		—		5.8		—
Commercial paper	6.6		—		6.6		—		204.5		—		204.5		—
Marketable securities:
Corporate equity securities	46.0		46.0		—		—		116.8		88.8		28.0		—
U.S. Treasury securities	546.5		546.5		—		—		—		—		—		—
Government-sponsored enterprise securities	425.2		—		425.2		—		127.1		—		127.1		—
Asset-backed securities	306.0		—		306.0		—		—		—		—		—
Certificates of deposit	33.7		—		33.7		—		—		—		—		—
Corporate debt securities	1,802.8		—		1,802.8		—		87.0		—		87.0		—
Commercial paper	186.8		—		186.8		—		55.8		—		55.8		—
Prepaid expenses and other current assets:
Foreign currency forward contracts	1.8		—		1.8		—		47.5		—		47.5		—
Other assets:
Foreign currency forward contracts	—		—		—		—		0.8		—		0.8		—
Total financial assets	$	10,382.7	$	5,989.8	$	4,392.9	$	—	$	7,807.9	$	5,251.4	$	2,556.5	$	—
Financial instruments carried at fair value (liability positions):
Other current liabilities:
Foreign currency forward contracts	$	(33.7)	$	—	$	(33.7)	$	—	$	(14.3)	$	—	$	(14.3)	$	—
Contingent consideration	—		—		—		—		(14.6)		—		—		(14.6)
Other long-term liabilities:
Foreign currency forward contracts	—		—		—		—		(0.9)		—		(0.9)		—
Contingent consideration	(77.4)		—		—		(77.4)		(114.4)		—		—		(114.4)
Total financial liabilities	$	(111.1)	$	—	$	(33.7)	$	(77.4)	$	(144.2)	$	—	$	(15.2)	$	(129.0)

Schedule of Fair Value of Our Contingent Consideration Liabilities

The following table represents a rollforward of the fair value of our contingent consideration liabilities:

	Year Ended December 31, 2023
	(in millions)
Balance at December 31, 2022	$	129.0
Decrease in fair value of contingent payments	(51.6)
Balance at December 31, 2023	$	77.4