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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Summary of Cash and Available-For-Sale Securities
The following tables summarize the Company’s cash and available-for-sale marketable securities’ amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category reported as cash and cash equivalents or short-term or long-term investments as of December 31, 2019, and 2018 (in millions):
Reported as:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Cash and
Cash
Equivalents
Short-term
Investments
Long-term
Investments
December 31, 2019
Cash$413.1  $—  $—  $413.1  $413.1  $—  $—  
Level 1:
Money market funds726.8  —  —  726.8  726.8  —  —  
U.S. treasuries1,935.8  9.7  (0.4) 1,945.1  —  890.8  1,054.3  
Subtotal2,662.6  9.7  (0.4) 2,671.9  726.8  890.8  1,054.3  
Level 2:
Commercial paper165.1  —  —  165.1  25.5  139.6  —  
Corporate securities2,096.1  16.8  (0.2) 2,112.7  —  798.5  1,314.2  
U.S. government agencies418.3  1.1  (0.2) 419.2  —  209.6  209.6  
Non-U.S. government securities4.5  —  —  4.5  —  4.5  —  
Municipal securities58.4  0.3  —  58.7  2.2  11.1  45.4  
Subtotal2,742.4  18.2  (0.4) 2,760.2  27.7  1,163.3  1,569.2  
Total assets measured at fair value$5,818.1  $27.9  $(0.8) $5,845.2  $1,167.6  $2,054.1  $2,623.5  
Reported as:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Cash and
Cash
Equivalents
Short-term
Investments
Long-term
Investments
December 31, 2018
Cash$269.4  $—  $—  $269.4  $269.4  $—  $—  
Level 1:
Money market funds569.1  —  —  569.1  569.1  —  —  
U.S. treasuries1,477.8  1.7  (5.3) 1,474.2  10.0  897.8  566.4  
Subtotal2,046.9  1.7  (5.3) 2,043.3  579.1  897.8  566.4  
Level 2:
Commercial paper110.7  —  —  110.7  1.4  109.3  —  
Corporate securities1,607.8  1.3  (4.8) 1,604.3  8.0  724.5  871.8  
U.S. government agencies791.8  0.3  (3.8) 788.3  —  468.9  319.4  
Municipal securities18.4  —  —  18.4  —  4.7  13.7  
Subtotal2,528.7  1.6  (8.6) 2,521.7  9.4  1,307.4  1,204.9  
Total assets measured at fair value$4,845.0  $3.3  $(13.9) $4,834.4  $857.9  $2,205.2  $1,771.3  
Summary Of Contractual Maturities Of Cash Equivalents And Available-For-Sale Investments
The following table summarizes the contractual maturities of the Company’s cash equivalents and available-for-sale investments (excluding cash and money market funds) at December 31, 2019 (in millions):
Amortized
Cost
Fair
Value
Mature in less than one year$2,082.4  $2,087.7  
Mature in one to five years2,595.8  2,617.6  
Total$4,678.2  $4,705.3  
Schedule Of Available-For-Sale Investments With Unrealized Losses
The following tables present the breakdown of the available-for-sale investments with unrealized losses at December 31, 2019, and 2018 (in millions):
 Unrealized losses less
than 12 months
Unrealized losses 12
months or greater
Total
December 31, 2019Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Corporate securities$237.0  $(0.2) $—  $—  $237.0  $(0.2) 
U.S. treasuries 236.5  (0.2) 87.5  (0.2) 324.0  (0.4) 
U.S. government agencies45.9  (0.1) 45.5  (0.1) 91.4  (0.2) 
Total$519.4  $(0.5) $133.0  $(0.3) $652.4  $(0.8) 
December 31, 2018                  
Corporate securities$727.4  $(1.7) $409.6  $(3.1) $1,137.0  $(4.8) 
U.S. treasuries478.7  (0.9) 592.8  (4.4) 1,071.5  (5.3) 
U.S. government agencies228.0  (0.2) 425.2  (3.6) 653.2  (3.8) 
Total$1,434.1  $(2.8) $1,427.6  $(11.1) $2,861.7  $(13.9) 
Derivative Instruments Used to Hedge against Balance Sheet Foreign Currency Exposures
These derivative instruments are used to hedge against balance sheet foreign currency exposures. The related gains and losses were as follows (in millions):
 Years Ended December 31,
 201920182017
Recognized gains (losses) in interest and other income, net$6.4  $8.7  $(9.2) 
Foreign exchange gains (losses) related to balance sheet re-measurement$(1.5) $(2.6) $9.7  
Gross Notional Amounts for Outstanding Derivatives Total gross notional amounts (in USD) for derivatives and the aggregate gross fair value outstanding at the end of each period were as follows (in millions):
Derivatives Designated as Hedging InstrumentsDerivatives Not Designated as Hedging Instruments
December 31,
2019
December 31,
2018
December 31,
2019
December 31,
2018
Notional amounts:
   Forward contracts$154.5  $183.0  $227.2  $182.7  
Gross fair value recorded in:
   Prepaid and other current assets$1.3  $3.1  $2.2  $4.1  
   Other accrued liabilities$0.5  $0.9  $0.7  $1.1