XML 25 R25.htm IDEA: XBRL DOCUMENT v3.2.0.727
Cash Equivalents and Investments (Tables)
 6 Months Ended
Jun. 30, 2015
Cash Equivalents and Investments [Abstract]  
Unrealized gains and losses and fair value of available-for-sale and trading securities
The following tables summarize the Company's unrealized gains and losses and fair value of investments designated as available-for-sale and trading securities as of June 30, 2015 and December 31, 2014 (in millions):
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated Fair
Value
As of June 30, 2015
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
Asset-backed securities
$
331.1

 
$
0.1

 
$
(0.1
)
 
$
331.1

Certificates of deposit
4.7

 
—

 
—

 
4.7

Commercial paper
12.5

 
—

 
—

 
12.5

Corporate debt securities
917.9

 
0.5

 
(0.9
)
 
917.5

Foreign government debt securities
26.0

 
—

 
—

 
26.0

Government-sponsored enterprise obligations
172.6

 
0.1

 
—

 
172.7

U.S. government securities
268.0

 
0.1

 
—

 
268.1

Total fixed income securities
1,732.8

 
0.8

 
(1.0
)
 
1,732.6

Money market funds
207.5

 
—

 
—

 
207.5

Mutual funds
4.0

 
—

 
—

 
4.0

Publicly-traded equity securities
3.6

 
4.4

 
—

 
8.0

Total available-for-sale securities
1,947.9

 
5.2

 
(1.0
)
 
1,952.1

Trading securities in mutual funds(1)
17.9

 
—

 
—

 
17.9

Total
$
1,965.8

 
$
5.2

 
$
(1.0
)
 
$
1,970.0

 
 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
 
Cash equivalents
$
178.8

 
$
—

 
$
—

 
$
178.8

Restricted investments
45.2

 
—

 
—

 
45.2

Short-term investments
513.2

 
4.5

 
—

 
517.7

Long-term investments
1,228.6

 
0.7

 
(1.0
)
 
1,228.3

Total
$
1,965.8

 
$
5.2

 
$
(1.0
)
 
$
1,970.0


________________________________
(1) 
Balance consists of the Company's non-qualified deferred compensation plan assets.
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated Fair
Value
As of December 31, 2014
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
Asset-backed securities
$
269.3

 
$
—

 
$
(0.3
)
 
$
269.0

Certificates of deposit
10.6

 
—

 
—

 
10.6

Commercial paper
20.3

 
—

 
—

 
20.3

Corporate debt securities
738.6

 
0.5

 
(1.1
)
 
738.0

Foreign government debt securities
24.6

 
—

 
—

 
24.6

Government-sponsored enterprise obligations
162.2

 
—

 
(0.1
)
 
162.1

U.S. government securities
246.1

 
—

 
(0.1
)
 
246.0

Total fixed income securities
1,471.7

 
0.5

 
(1.6
)
 
1,470.6

Money market funds
594.2

 
—

 
—

 
594.2

Mutual funds
3.9

 
0.1

 
—

 
4.0

Publicly-traded equity securities
2.1

 
—

 
(0.1
)
 
2.0

Total available-for-sale securities
2,071.9

 
0.6

 
(1.7
)
 
2,070.8

Trading securities in mutual funds(1)
16.3

 
—

 
—

 
16.3

Total
$
2,088.2

 
$
0.6

 
$
(1.7
)
 
$
2,087.1

 
 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
 
Cash equivalents
$
576.6

 
$
—

 
$
—

 
$
576.6

Restricted investments
45.2

 
—

 
—

 
45.2

Short-term investments
332.2

 
0.2

 
(0.2
)
 
332.2

Long-term investments
1,134.2

 
0.4

 
(1.5
)
 
1,133.1

Total
$
2,088.2

 
$
0.6

 
$
(1.7
)
 
$
2,087.1


________________________________
(1) 
Balance consists of the Company's non-qualified deferred compensation plan assets.
Maturities of fixed income securities
The following table presents the contractual maturities of the Company's total fixed income securities as of June 30, 2015 (in millions):
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated Fair
Value
Due in less than one year
$
504.2

 
$
0.1

 
$
—

 
$
504.3

Due between one and five years
1,228.6

 
0.7

 
(1.0
)
 
1,228.3

Total
$
1,732.8

 
$
0.8

 
$
(1.0
)
 
$
1,732.6
Available-for-sale securities in unrealized loss position
The following tables present the Company's available-for-sale securities that were in an unrealized loss position as of June 30, 2015 and December 31, 2014 (in millions):
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
As of June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities(1)
$
190.3

 
$
(0.1
)
 
$
10.2

 
$
—

 
$
200.5

 
$
(0.1
)
Corporate debt securities(1)
519.9

 
(0.9
)
 
10.6

 
—

 
530.5

 
(0.9
)
Foreign government debt securities(2)
17.0

 
—

 
—

 
—

 
17.0

 
—

Government-sponsored enterprise obligations(2)
51.1

 
—

 
—

 
—

 
51.1

 
—

U.S. government securities(2)
76.6

 
—

 
—

 
—

 
76.6

 
—

Total fixed income securities
854.9

 
(1.0
)
 
20.8

 
—

 
875.7

 
(1.0
)
Total available-for-sale securities
$
854.9

 
$
(1.0
)
 
$
20.8

 
$
—

 
$
875.7

 
$
(1.0
)
________________________________
(1) Balances greater than 12 months include investments that were in an immaterial unrealized loss position as of June 30, 2015.
(2) Balances less than 12 months include investments that were in an immaterial unrealized loss position as of June 30, 2015.

 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
As of December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$
221.9

 
$
(0.3
)
 
$
—

 
$
—

 
$
221.9

 
$
(0.3
)
Corporate debt securities
515.9

 
(1.1
)
 
—

 
—

 
515.9

 
(1.1
)
Foreign government debt securities(1)
24.6

 
—

 
—

 
—

 
24.6

 
—

Government-sponsored enterprise obligations
113.8

 
(0.1
)
 
—

 
—

 
113.8

 
(0.1
)
U.S. government securities
189.0

 
(0.1
)
 
—

 
—

 
189.0

 
(0.1
)
Total fixed income securities
1,065.2

 
(1.6
)
 
—

 
—

 
1,065.2

 
(1.6
)
Publicly-traded equity securities
2.0

 
(0.1
)
 
—

 
—

 
2.0

 
(0.1
)
Total available-for-sale securities
$
1,067.2

 
$
(1.7
)
 
$
—

 
$
—

 
$
1,067.2

 
$
(1.7
)
 ________________________________
(1) 
Balances less than 12 months include investments that were in an immaterial unrealized loss position as of December 31, 2014.