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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Investments Measured at Fair Value on Recurring Basis
The following table presents a summary of investments, which were measured at fair value on a recurring basis.
September 30,
2022		December 31,
2021
Fair
Value		LevelingFair
Value		Leveling
(in millions)Level 1Level 2Level 3Level 1Level 2Level 3
Cash and cash equivalents:
Cash and money market funds$212.2 $212.2 $— $— $340.8 $340.8 $— $— 
Restricted cash:
Certificates of deposit7.8 7.8 — — 3.2 3.2 — — 
Debt securities available-for-sale:
Commercial paper97.5 — 97.5 — 204.8 — 204.8 — 
Corporate debt securities521.9 — 521.9 — 485.5 — 485.5 — 
Securities of government-sponsored entities330.4 — 330.4 — 240.9 — 240.9 — 
Equity securities:
Equity securities–biotechnology industry94.9 94.9 — — 63.7 52.7 — 11.0 
$1,264.7 $314.9 $949.8 $— $1,338.9 $396.7 $931.2 $11.0 
Reconciliation of Our Investment in Restricted Equity Securities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)
The following table presents a reconciliation of equity security investments which were measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)2022202120222021
Balance at beginning of period$— $38.9 $11.0 $38.2 
Purchases— 4.6 — 4.6 
Unrealized gain (loss) included in earnings (1)
— (8.2)20.8 (7.5)
Transfers out of Level 3 (2)
— — (31.8)— 
Balance at end of period$— $35.3 $— $35.3 
_________________________
(1) Unrealized gains and losses on restricted equity security investments were measured at fair value on a recurring basis using significant unobservable inputs (Level 3) and are included in other income (expense), net.
(2) In the first quarter of 2022, our equity security investment in Voyager was transferred from Level 3 to Level 1 as the associated holding period restriction expired.