Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

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

Assets and liabilities of the Company are measured at fair value on a recurring basis as of September 30, 2020 and are summarized as follows:

			Fair Value Measurements at Reporting Date Using
Description	September 30, 2020		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	0.4	$	0.4	$	—	$	—
U.S. treasury obligations		69.4		—		69.4		—
Available-for-sale investments:
Time deposits and certificates of deposit		0.3		—		0.3		—
Bankers' acceptance drafts		3.1		—		3.1		—
U.S. treasury obligations		219.0		—		219.0		—
Group insurance contracts		6.3		—		6.3		—
Derivatives – currency forward contracts		0.1		—		0.1		—
Funds in investments and other assets:
Israeli pension assets		17.3		—		17.3		—
Deferred compensation plan assets:
Mutual funds and exchange traded funds		1.5		—		1.5		—
Money market securities		0.1		—		0.1		—
Total assets	$	317.5	$	0.4	$	317.1	$	—
Liabilities:
Derivatives – currency forward contracts	$	2.2	$	—	$	2.2	$	—
Derivatives – interest rate hedge – non-current		14.0		—		14.0		—
Total liabilities	$	16.2	$	—	$	16.2	$	—
Reported as follows:
Assets:
Cash and cash equivalents(1)	$	69.8	$	0.4	$	69.4	$	—
Short-term investments		222.4		—		222.4		—
Other current assets		0.1		—		0.1		—
Total current assets	$	292.3	$	0.4	$	291.9	$	—
Long-term investments	$	6.3	$	—	$	6.3	$	—
Other assets		18.9		—		18.9		—
Total long-term assets	$	25.2	$	—	$	25.2	$	—
Liabilities:
Other current liabilities	$	2.2	$	—	$	2.2	$	—
Other liabilities	$	14.0	$	—	$	14.0	$	—

⁽¹⁾ The cash and cash equivalent amounts presented in the table above do not include cash of $423.5 as of September 30, 2020.

Assets and liabilities of the Company are measured at fair value on a recurring basis as of December 31, 2019 and are summarized as follows:

			Fair Value Measurements at Reporting Date Using
Description	December 31, 2019		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	0.6	$	0.6	$	—	$	—
Time deposits and certificates of deposit		2.2		—		2.2		—
Commercial paper		42.6		—		42.6		—
U.S. treasury obligations		2.7		—		2.7		—
U.S. agency obligations		17.1		—		17.1		—
Available-for-sale securities:
Time deposits and certificates of deposit		13.1		—		13.1		—
Bankers' acceptance drafts		4.0		—		4.0		—
Commercial paper		61.2		—		61.2		—
U.S. treasury obligations		5.0		—		5.0		—
U.S. agency obligations		26.1		—		26.1		—
Group insurance contracts		5.8		—		5.8		—
Derivatives – currency forward contracts		1.1		—		1.1		—
Derivatives –interest rate hedge - current		0.8		—		0.8		—
Funds in investments and other assets:
Israeli pension assets		16.7		—		16.7		—
Deferred compensation plan assets:
Mutual funds and exchange traded funds		2.0		—		2.0		—
Money market funds		0.5		—		0.5		—
Total assets	$	201.5	$	0.6	$	200.9	$	—
Liabilities:
Derivatives – currency forward contracts	$	0.3	$	—	$	0.3	$	—
Derivatives – interest rate hedge - non-current		6.5		—		6.5		—
Total liabilities	$	6.8	$	—	$	6.8	$	—
Reported as follows:
Assets:
Cash and cash equivalents(1)	$	65.2	$	0.6	$	64.6	$	—
Short-term investments		109.4		—		109.4		—
Other current assets		1.9		—		1.9		—
Total current assets	$	176.5	$	0.6	$	175.9	$	—
Long-term investments	$	5.8	$	—	$	5.8	$	—
Other assets		19.2		—		19.2		—
Total long-term assets	$	25.0	$	—	$	25.0	$	—
Liabilities:
Other current liabilities	$	0.3	$	—	$	0.3	$	—
Other liabilities	$	6.5	$	—	$	6.5	$	—

⁽¹⁾ The cash and cash equivalent amounts presented in the table above do not include cash of $349.4 as of December 31, 2019.