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Cash Equivalents and Investments (Tables)
 6 Months Ended
Jun. 30, 2016
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, 2016 and December 31, 2015 (in millions):
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated Fair
Value
As of June 30, 2016
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
Asset-backed securities
$
320.3

 
$
0.4

 
$
—

 
$
320.7

Certificates of deposit
19.4

 
—

 
—

 
19.4

Commercial paper
6.7

 
—

 
—

 
6.7

Corporate debt securities
861.3

 
3.0

 
(0.6
)
 
863.7

Foreign government debt securities
35.5

 
—

 
—

 
35.5

Government-sponsored enterprise obligations
177.1

 
0.1

 
—

 
177.2

U.S. government securities
366.2

 
0.5

 
—

 
366.7

Total fixed income securities
1,786.5

 
4.0

 
(0.6
)
 
1,789.9

Money market funds
538.7

 
—

 
—

 
538.7

Mutual funds
5.8

 
—

 
—

 
5.8

Publicly-traded equity securities
6.2

 
—

 
(1.7
)
 
4.5

Total available-for-sale securities
2,337.2

 
4.0

 
(2.3
)
 
2,338.9

Trading securities in mutual funds(*)
19.3

 
—

 
—

 
19.3

Total
$
2,356.5

 
$
4.0

 
$
(2.3
)
 
$
2,358.2

 
 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
 
Cash equivalents
$
555.2

 
$
—

 
$
—

 
$
555.2

Restricted investments
68.8

 
—

 
—

 
68.8

Short-term investments
588.5

 
0.4

 
(1.8
)
 
587.1

Long-term investments
1,144.0

 
3.6

 
(0.5
)
 
1,147.1

Total
$
2,356.5

 
$
4.0

 
$
(2.3
)
 
$
2,358.2


________________________________
(*) 
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, 2015
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
Asset-backed securities
$
312.2

 
$
—

 
$
(0.5
)
 
$
311.7

Certificates of deposit
9.6

 
—

 
—

 
9.6

Commercial paper
17.7

 
—

 
—

 
17.7

Corporate debt securities
913.8

 
0.2

 
(2.6
)
 
911.4

Foreign government debt securities
16.5

 
—

 
—

 
16.5

Government-sponsored enterprise obligations
204.1

 
—

 
(0.4
)
 
203.7

U.S. government securities
278.0

 
—

 
(0.4
)
 
277.6

Total fixed income securities
1,751.9

 
0.2

 
(3.9
)
 
1,748.2

Money market funds
29.7

 
—

 
—

 
29.7

Mutual funds
6.1

 
0.1

 
—

 
6.2

Publicly-traded equity securities
8.7

 
0.8

 
(0.7
)
 
8.8

Total available-for-sale securities
1,796.4

 
1.1

 
(4.6
)
 
1,792.9

Trading securities in mutual funds(*)
17.7

 
—

 
—

 
17.7

Total
$
1,814.1

 
$
1.1

 
$
(4.6
)
 
$
1,810.6

 
 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
 
Cash equivalents
$
3.4

 
$
—

 
$
—

 
$
3.4

Restricted investments
35.8

 
0.1

 
—

 
35.9

Short-term investments
527.2

 
0.9

 
(1.0
)
 
527.1

Long-term investments
1,247.7

 
0.1

 
(3.6
)
 
1,244.2

Total
$
1,814.1

 
$
1.1

 
$
(4.6
)
 
$
1,810.6


________________________________
(*) 
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, 2016 (in millions):
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated Fair
Value
Due in less than one year
$
642.4

 
$
0.4

 
$
(0.1
)
 
$
642.7

Due between one and five years
1,144.1

 
3.6

 
(0.5
)
 
1,147.2

Total
$
1,786.5

 
$
4.0

 
$
(0.6
)
 
$
1,789.9
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, 2016 and December 31, 2015 (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, 2016
 
 
 
 
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities(1)(2)
$
82.4

 
$
—

 
$
12.4

 
$
—

 
$
94.8

 
$
—

Certificates of deposit(2)
3.3

 
—

 
—

 
—

 
3.3

 
—

Corporate debt securities
153.9

 
(0.3
)
 
93.8

 
(0.3
)
 
247.7

 
(0.6
)
Foreign government debt securities(2)
13.5

 
—

 
—

 
—

 
13.5

 
—

Government-sponsored enterprise obligations(2)
23.0

 
—

 
—

 
—

 
23.0

 
—

U.S. government securities(2)
17.2

 
—

 
—

 
—

 
17.2

 
—

Total fixed income securities
293.3

 
(0.3
)
 
106.2

 
(0.3
)
 
399.5

 
(0.6
)
Publicly-traded equity securities
4.5

 
(1.7
)
 
—

 
—

 
4.5

 
(1.7
)
Total available-for-sale securities
$
297.8

 
$
(2.0
)
 
$
106.2

 
$
(0.3
)
 
$
404.0

 
$
(2.3
)
________________________________
(1) Balances greater than 12 months include investments that were in an immaterial unrealized loss position as of June 30, 2016.
(2) Balances less than 12 months include investments that were in an immaterial unrealized loss position as of June 30, 2016.

 
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, 2015
 
 
 
 
 
 
 
 
 
 
 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$
274.2

 
$
(0.4
)
 
$
30.8

 
$
(0.1
)
 
$
305.0

 
$
(0.5
)
Certificates of deposit(*)
3.3

 
—

 
—

 
—

 
$
3.3

 
—

Corporate debt securities
687.9

 
(2.3
)
 
58.9

 
(0.3
)
 
746.8

 
(2.6
)
Foreign government debt securities(*)
9.5

 
—

 
—

 
—

 
9.5

 
—

Government-sponsored enterprise obligations
185.3

 
(0.4
)
 
—

 
—

 
185.3

 
(0.4
)
U.S. government securities
259.3

 
(0.4
)
 
—

 
—

 
259.3

 
(0.4
)
Total fixed income securities
1,419.5

 
(3.5
)
 
89.7

 
(0.4
)
 
1,509.2

 
(3.9
)
Publicly-traded equity securities
2.1

 
(0.7
)
 
—

 
—

 
2.1

 
(0.7
)
Total available-for-sale securities
$
1,421.6

 
$
(4.2
)
 
$
89.7

 
$
(0.4
)
 
$
1,511.3

 
$
(4.6
)
 ________________________________
(*) 
Balances less than 12 months include investments that were in an immaterial unrealized loss position as of December 31, 2015.