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FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Assets Measured at Fair Value on Recurring Basis

The Company’s assets which were measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016 were determined using the inputs described above and are as follows (in millions):

 

           Fair Value Measurements Using  
     Carrying
Value		     Quoted Prices in
Active
Markets for
Identical Assets
(Level 1)		     Significant Other
Observable
Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  

September 30, 2017:

         

Classified as current assets:

         

Cash and money market funds

    $ 269.4     $ 269.4     $ —       $ —    

Certificates of deposit

      0.2       0.2       —         —    

Commercial paper

      66.7       —         66.7       —    

Securities of government-sponsored entities

      12.5       —         12.5       —    

Corporate debt securities

      163.7       —         163.7       —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

      512.5       269.6       242.9       —    

Classified as long-term assets:

         

Certificates of deposit

      3.0       3.0       —         —    

Securities of government-sponsored entities

      11.0       —         11.0       —    

Corporate debt securities

      199.3       —         199.3       —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

      725.8       272.6       453.2       —    

Less cash, cash equivalents and restricted cash

      (272.4 )      (272.4 )      —         —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Total investments

    $ 453.4     $ 0.2     $ 453.2     $ —    
  

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2016:

         

Classified as current assets:

         

Cash and money market funds

    $ 73.6     $ 73.6     $ —       $ —    

Certificates of deposit

      1.0       1.0       —         —    

Commercial paper

      49.2       —         49.2       —    

Securities of government-sponsored entities

      5.4       —         5.4       —    

Corporate debt securities

      178.1       —         178.1       —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

      307.3       74.6       232.7       —    

Classified as long-term assets:

         

Certificates of deposit

      4.9       4.9       —         —    

Securities of government-sponsored entities

      7.5       —         7.5       —    

Corporate debt securities

      36.0       —         36.0       —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

      355.7       79.5       276.2       —    

Less cash, cash equivalents and restricted cash

      (88.1 )      (78.5 )      (9.6 )      —    
  

 

 

    

 

 

    

 

 

    

 

 

  

Total investments

    $ 267.6     $ 1.0     $ 266.6     $ —