Cash Equivalents and Investments (Tables)

3 Months Ended

Mar. 31, 2023

Cash Equivalents and Investments [Abstract]

Schedule of 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 March 31, 2023 and December 31, 2022 (in millions):

	As of March 31, 2023								As of December 31, 2022
	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 and mortgage-backed securities	$	24.6	$	—	$	(0.8)	$	23.8	$	37.8	$	—	$	(1.2)	$	36.6
Corporate debt securities	210.8		—		(5.2)		205.6		277.5		—		(7.1)		270.4
Foreign government debt securities	8.8		—		(0.3)		8.5		8.8		—		(0.4)		8.4
Time deposits	89.7		—		—		89.7		70.6		—		—		70.6
U.S. government agency securities	18.6		—		(0.4)		18.2		18.6		—		(0.6)		18.0
U.S. government securities	5.0		—		(0.1)		4.9		9.0		—		(0.2)		8.8
Total fixed income securities	357.5		—		(6.8)		350.7		422.3		—		(9.5)		412.8
Privately-held debt and redeemable preferred stock securities	20.7		37.4		—		58.1		15.5		37.4		—		52.9
Total available-for-sale debt securities	$	378.2	$	37.4	$	(6.8)	$	408.8	$	437.8	$	37.4	$	(9.5)	$	465.7
Reported as:
Cash equivalents	$	89.7	$	—	$	—	$	89.7	$	70.6	$	—	$	—	$	70.6
Short-term investments	171.4		—		(3.0)		168.4		205.9		—		(3.3)		202.6
Long-term investments	96.4		—		(3.8)		92.6		145.8		—		(6.2)		139.6
Other long-term assets	20.7		37.4		—		58.1		15.5		37.4		—		52.9
Total	$	378.2	$	37.4	$	(6.8)	$	408.8	$	437.8	$	37.4	$	(9.5)	$	465.7

Schedule of Maturities of Fixed Income Securities

The following table presents the contractual maturities of the Company's total fixed income securities as of March 31, 2023 (in millions):

	Amortized Cost		Estimated Fair Value
Due in less than one year	$	261.1	$	258.1
Due between one and five years	96.4		92.6
Total	$	357.5	$	350.7

Schedule of Investments in Equity Securities

The following table presents the Company's investments in equity securities as of March 31, 2023 and December 31, 2022 (in millions):

	As of
	March 31, 2023		December 31, 2022
Equity investments with readily determinable fair value:
Money market funds	$	496.7	$	420.8
Mutual funds	31.9		28.1
Publicly-traded equity securities	6.5		7.7
Equity investments without readily determinable fair value	130.7		137.7
Equity investment under the equity method of accounting	33.9		36.0
Total equity securities	$	699.7	$	630.3
Reported as:
Cash equivalents	$	496.7	$	420.8
Short-term investments	6.5		7.7
Prepaid expenses and other current assets	2.5		2.4
Other long-term assets	194.0		199.4
Total	$	699.7	$	630.3

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 Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022 (in millions):

	As of
	March 31, 2023		December 31, 2022
Cash and cash equivalents	$	923.5	$	880.1
Restricted cash included in prepaid expenses and other current assets	15.9		15.2
Restricted cash included in other long-term assets	2.4		2.4
Total cash, cash equivalents, and restricted cash	$	941.8	$	897.7