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Investments (Tables)
3 Months Ended
Mar. 31, 2012
Investments [Abstract]  
Investments in short and long-term classified as available-for-sale securities

We invest in short and long-term investments classified as available-for-sale securities. Information regarding our investments is as follows (in millions):

 

                                 
    Amortized
Cost
    Gross
Unrealized
    Fair value  
      Gains     Losses    

As of March 31, 2012

                               

Corporate debt securities

  $ 331.1     $ 0.4     $ (0.1 )    $ 331.4  

U.S. government and agency debt securities

    200.5       —       (0.1 )      200.4  

Foreign government debt securities

    2.8       —       —       2.8  

Commercial paper

    127.3       —       —       127.3  

Certificates of deposit

    90.1       —       —       90.1  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total short and long-term investments

  $ 751.8     $ 0.4     $ (0.2 )    $ 752.0  
   

 

 

   

 

 

   

 

 

   

 

 

 

As of December 31, 2011

                               

Corporate debt securities

  $ 324.8     $ 0.2     $ (0.3 )    $ 324.7  

U.S. government and agency debt securities

    177.1       0.1       —       177.2  

Municipal bonds

    1.0       —       —       1.0  

Foreign government debt securities

    6.8       —       —       6.8  

Commercial paper

    74.5       —       —       74.5  

Certificates of deposit

    88.5       —       —       88.5  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total short and long-term investments

  $ 672.7     $ 0.3     $ (0.3 )    $ 672.7  
   

 

 

   

 

 

   

 

 

   

 

 

 
Fair values and gross unrealized losses for all available-for-sale securities in an unrealized loss position deemed to be temporary

The following table shows the fair value and gross unrealized losses for all available-for-sale securities in an unrealized loss position deemed to be temporary (in millions):

 

                                 
    March 31, 2012     December 31, 2011  
    Fair Value     Unrealized
Losses
    Fair value     Unrealized
Losses
 

Corporate debt securities

  $ 131.1     $ (0.1 )    $ 164.5     $ (0.3 ) 

U.S. government and agency debt securities

    173.0       (0.1 )      —       —  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 304.1     $ (0.2 )    $ 164.5     $ (0.3 ) 
   

 

 

   

 

 

   

 

 

   

 

 

 
The cost and fair value of available-for-sale fixed-maturity securities by contractual maturity

The amortized cost and fair value of our available-for-sale fixed-maturity securities by contractual maturity are as follows (in millions):

 

                 
    March 31, 2012  
    Amortized
Cost
    Fair Value  

Due in one year or less

  $ 555.0     $ 555.1  

Due after one year through two years

    196.8       196.9  
   

 

 

   

 

 

 

Total

  $ 751.8     $ 752.0