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Cash Equivalents and Investments (Tables)
 12 Months Ended
Dec. 31, 2019
Cash Equivalents and Investments [Abstract]  
Unrealized gains and losses and fair value of available-for-sale debt securities
The following table summarizes the Company's unrealized gains and losses and fair value of investments designated as available-for-sale debt securities as of December 31, 2019 and December 31, 2018 (in millions):
 
As of December 31, 2019
 
As of December 31, 2018
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated Fair
Value
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated Fair
Value
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$
81.3

 
$
0.1

 
$
—

 
$
81.4

 
$
46.8

 
$
—

 
$
(0.3
)
 
$
46.5

Certificates of deposit
38.6

 
—

 
—

 
38.6

 
152.9

 
—

 
—

 
152.9

Commercial paper
168.2

 
—

 
—

 
168.2

 
393.6

 
—

 
—

 
393.6

Corporate debt securities
604.9

 
0.7

 
(0.1
)
 
605.5

 
416.1

 
—

 
(3.1
)
 
413.0

Foreign government debt securities
11.4

 
—

 
—

 
11.4

 
20.0

 
—

 
(0.1
)
 
19.9

Time deposits
226.3

 
—

 
—

 
226.3

 
278.6

 
—

 
—

 
278.6

U.S. government agency securities
89.0

 
—

 
—

 
89.0

 
87.2

 
—

 
(0.2
)
 
87.0

U.S. government securities
394.3

 
0.3

 
(0.1
)
 
394.5

 
811.8

 
—

 
(0.5
)
 
811.3

Total fixed income securities
1,614.0

 
1.1

 
(0.2
)
 
1,614.9

 
2,207.0

 
—

 
(4.2
)
 
2,202.8

Privately-held debt and redeemable preferred stock securities
19.1

 
37.4

 
—

 
56.5

 
16.6

 
37.4

 
—

 
54.0

Total available-for-sale debt securities
$
1,633.1

 
$
38.5

 
$
(0.2
)
 
$
1,671.4

 
$
2,223.6

 
$
37.4

 
$
(4.2
)
 
$
2,256.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents
$
290.9

 
$
—

 
$
—

 
$
290.9

 
$
936.5

 
$
—

 
$
—

 
$
936.5

Short-term investments
733.7

 
0.5

 
—

 
734.2

 
1,069.2

 
—

 
(1.9
)
 
1,067.3

Long-term investments
589.4

 
0.6

 
(0.2
)
 
589.8

 
201.3

 
—

 
(2.3
)
 
199.0

Other long-term assets
19.1

 
37.4

 
—

 
56.5

 
16.6

 
37.4

 
—

 
54.0

Total
$
1,633.1

 
$
38.5

 
$
(0.2
)
 
$
1,671.4

 
$
2,223.6

 
$
37.4

 
$
(4.2
)
 
$
2,256.8
Maturities of fixed income securities
The following table presents the contractual maturities of the Company's total fixed income securities as of December 31, 2019 (in millions):
 
Amortized
Cost
 
Estimated Fair
Value
Due in less than one year
$
1,024.6

 
$
1,025.1

Due between one and five years
589.4

 
589.8

Total
$
1,614.0

 
$
1,614.9
Available-for-sale investments in an unrealized loss position
The following tables present the Company's total fixed income securities that were in an unrealized loss position as of December 31, 2019 and December 31, 2018 (in millions):
 
As of December 31, 2019
 
Less than 12 Months
 
12 Months or Greater
 
Total
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
 
Fair
Value
 
Unrealized
Loss
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$
21.6

 
$
—

 
$
5.2

 
$
—

 
$
26.8

 
$
—

Corporate debt securities
142.6

 
(0.1
)
 
2.1

 
—

 
144.7

 
(0.1
)
Foreign government debt securities
4.0

 
—

 
4.0

 
—

 
8.0

 
—

U.S. government agency securities
20.0

 
—

 
—

 
—

 
20.0

 
—

U.S. government securities
71.6

 
(0.1
)
 
—

 
—

 
71.6

 
(0.1
)
Total fixed income securities
$
259.8

 
$
(0.2
)
 
$
11.3

 
$
—

 
$
271.1

 
$
(0.2
)


 
As of December 31, 2018
 
Less than 12 Months 
 
12 Months or Greater 
 
Total 
 
Fair
Value 
 
Unrealized
Loss 
 
Fair
Value 
 
Unrealized
Loss 
 
Fair
Value 
 
Unrealized
Loss 
Fixed income securities:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$
3.1

 
$
—

 
$
43.0

 
$
(0.3
)
 
$
46.1

 
$
(0.3
)
Corporate debt securities
72.6

 
(0.1
)
 
330.7

 
(3.0
)
 
403.3

 
(3.1
)
Foreign government debt securities
1.5

 
—

 
18.4

 
(0.1
)
 
19.9

 
(0.1
)
U.S. government agency securities
2.0

 
—

 
45.2

 
(0.2
)
 
47.2

 
(0.2
)
U.S. government securities
344.0

 
—

 
63.5

 
(0.5
)
 
407.5

 
(0.5
)
Total fixed income securities
$
423.2

 
$
(0.1
)
 
$
500.8

 
$
(4.1
)
 
$
924.0

 
$
(4.2
)
 
Schedule of investments in equity securities
The following table presents the Company's investments in equity securities as of December 31, 2019 and 2018 (in millions):
 
As of December 31,
 
2019

2018
Equity investments with readily determinable fair value
 
 
 
  Money market funds
$
446.4

 
$
996.9

  Mutual funds
26.8

 
24.3

  Publicly-traded equity securities
3.8

 
2.8

Equity investments without readily determinable fair value
133.3

 
36.4

  Total equity securities
$
610.3

 
$
1,060.4

 
 
 
 
Reported as:
 
 
 
Cash equivalents
$
442.3

 
$
985.3

Short-term investments
3.8

 
2.8

Prepaid expenses and other current assets
4.1

 
10.9

Other long-term assets
160.1

 
61.4

Total
$
610.3

 
$
1,060.4
Schedule of reconciliation of cash, cash equivalents and restricted cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash included in the Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018 (in millions):
 
As of December 31,
 
2019
 
2018
Cash and cash equivalents
$
1,215.8

 
$
2,489.0

Restricted cash included in Prepaid expenses and other current assets
60.7

 
16.8

  Total cash, cash equivalents, and restricted cash
$
1,276.5

 
$
2,505.8