Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

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

	Fair Value Measurements at March 31, 2023								Fair Value Measurements at December 31, 2022
	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	$	—	$	23.8	$	—	$	23.8	$	—	$	36.6	$	—	$	36.6
Corporate debt securities	—		205.6		—		205.6		—		270.4		—		270.4
Foreign government debt securities	—		8.5		—		8.5		—		8.4		—		8.4
Time deposits	—		89.7		—		89.7		—		70.6		—		70.6
U.S. government agency securities	—		18.2		—		18.2		—		18.0		—		18.0
U.S. government securities	4.9		—		—		4.9		8.8		—		—		8.8
Privately-held debt and redeemable preferred stock securities	—		—		58.1		58.1		—		—		52.9		52.9
Total available-for-sale debt securities	4.9		345.8		58.1		408.8		8.8		404.0		52.9		465.7
Equity securities:
Money market funds	496.7		—		—		496.7		420.8		—		—		420.8
Mutual funds	31.9		—		—		31.9		28.1		—		—		28.1
Publicly-traded equity securities	6.5		—		—		6.5		7.7		—		—		7.7
Total equity securities	535.1		—		—		535.1		456.6		—		—		456.6
Derivative assets:
Foreign exchange contracts	—		1.9		—		1.9		—		1.3		—		1.3
Interest rate contracts	—		111.4		—		111.4		—		125.4		—		125.4
Total derivative assets	—		113.3		—		113.3		—		126.7		—		126.7
Total assets measured at fair value on a recurring basis	$	540.0	$	459.1	$	58.1	$	1,057.2	$	465.4	$	530.7	$	52.9	$	1,049.0
Liabilities:
Derivative liabilities:
Foreign exchange contracts	$	—	$	(26.4)	$	—	$	(26.4)	$	—	$	(37.6)	$	—	$	(37.6)
Interest rate contracts	—		(72.4)		—		(72.4)		—		(87.4)		—		(87.4)
Total derivative liabilities	—		(98.8)		—		(98.8)		—		(125.0)		—		(125.0)
Total liabilities measured at fair value on a recurring basis	$	—	$	(98.8)	$	—	$	(98.8)	$	—	$	(125.0)	$	—	$	(125.0)

	Fair Value Measurements at March 31, 2023								Fair Value Measurements at December 31, 2022
	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 assets, reported as:
Cash equivalents	$	496.7	$	89.7	$	—	$	586.4	$	420.8	$	70.6	$	—	$	491.4
Short-term investments	9.5		165.4		—		174.9		14.6		195.7		—		210.3
Long-term investments	1.9		90.7		—		92.6		1.9		137.7		—		139.6
Prepaid expenses and other current assets	2.5		1.2		—		3.7		2.4		0.8		—		3.2
Other long-term assets	29.4		112.1		58.1		199.6		25.7		125.9		52.9		204.5
Total assets measured at fair value	$	540.0	$	459.1	$	58.1	$	1,057.2	$	465.4	$	530.7	$	52.9	$	1,049.0
Total liabilities, reported as:
Other accrued liabilities	$	—	$	(22.6)	$	—	$	(22.6)	$	—	$	(32.5)	$	—	$	(32.5)
Other long-term liabilities	—		(76.2)		—		(76.2)		—		(92.5)		—		(92.5)
Total liabilities measured at fair value on a recurring basis	$	—	$	(98.8)	$	—	$	(98.8)	$	—	$	(125.0)	$	—	$	(125.0)