Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table provides a summary of assets and liabilities measured at fair value on a recurring basis and as reported in the Consolidated Balance Sheets (in millions):


	Fair Value Measurements at December 31, 2022								Fair Value Measurements at December 31, 2021
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total
Assets:
Available-for-sale debt securities:
Asset-backed and mortgage-backed securities	$	—	$	36.6	$	—	$	36.6	$	—	$	138.6	$	—	$	138.6
Certificates of deposit	—		—		—		—		—		5.0		—		5.0
Commercial paper	—		—		—		—		—		75.8		—		75.8
Corporate debt securities	—		270.4		—		270.4		—		442.5		—		442.5
Foreign government debt securities	—		8.4		—		8.4		—		12.7		—		12.7
Time deposits	—		70.6		—		70.6		—		35.2		—		35.2
U.S. government agency securities	—		18.0		—		18.0		—		26.7		—		26.7
U.S. government securities	8.8		—		—		8.8		42.3		31.3		—		73.6
Privately-held debt and redeemable preferred stock securities	—		—		52.9		52.9		—		—		47.0		47.0
Total available-for-sale debt securities	8.8		404.0		52.9		465.7		42.3		767.8		47.0		857.1
Equity securities:
Money market funds	420.8		—		—		420.8		382.0		—		—		382.0
Mutual funds	28.1		—		—		28.1		33.4		—		—		33.4
Publicly-traded equity securities	7.7		—		—		7.7		8.1		—		—		8.1
Total equity securities	456.6		—		—		456.6		423.5		—		—		423.5
Derivative assets:
Foreign exchange contracts	—		1.3		—		1.3		—		9.2		—		9.2
Interest rate contracts	—		125.4		—		125.4		—		47.1		—		47.1
Total derivative assets	—		126.7		—		126.7		—		56.3		—		56.3
Total assets measured at fair value on a recurring basis	$	465.4	$	530.7	$	52.9	$	1,049.0	$	465.8	$	824.1	$	47.0	$	1,336.9
Liabilities:
Derivative liabilities:
Foreign exchange contracts	$	—	$	(37.6)	$	—	$	(37.6)	$	—	$	(24.0)	$	—	$	(24.0)
Interest rate contracts	—		(87.4)		—		(87.4)		—		(2.5)		—		(2.5)
Total derivative liabilities	—		(125.0)		—		(125.0)		—		(26.5)		—		(26.5)
Total liabilities measured at fair value on a recurring basis	$	—	$	(125.0)	$	—	$	(125.0)	$	—	$	(26.5)	$	—	$	(26.5)

Total assets, reported as:
Cash equivalents	$	420.8	$	70.6	$	—	$	491.4	$	371.6	$	47.2	$	—	$	418.8
Short-term investments	14.6		195.7		—		210.3		41.5		274.0		—		315.5
Long-term investments	1.9		137.7		—		139.6		8.8		446.7		—		455.5
Prepaid expenses and other current assets	2.4		0.8		—		3.2		15.1		8.8		—		23.9
Other long-term assets	25.7		125.9		52.9		204.5		28.8		47.4		47.0		123.2
Total assets measured at fair value on a recurring basis	$	465.4	$	530.7	$	52.9	$	1,049.0	$	465.8	$	824.1	$	47.0	$	1,336.9


	Fair Value Measurements at December 31, 2022								Fair Value Measurements at December 31, 2021
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total
Total liabilities, reported as:
Other accrued liabilities	$	—	$	(32.5)	$	—	$	(32.5)	$	—	$	(14.9)	$	—	$	(14.9)
Other long-term liabilities	—		(92.5)		—		(92.5)		—		(11.6)		—		(11.6)
Total liabilities measured at fair value on a recurring basis	$	—	$	(125.0)	$	—	$	(125.0)	$	—	$	(26.5)	$	—	$	(26.5)