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Cash, Cash Equivalents and Short-Term Investments (Tables)
6 Months Ended
Jun. 30, 2020
Cash and Cash Equivalents [Abstract]  
Schedule of Cash, Cash Equivalents and Short-Term Investments

The amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of June 30, 2020 and December 31, 2019 consisted of the following:

 
As of June 30, 2020
 
Amortized Cost
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value
 
 
 
 
 
 
 
 
Cash
$
88.5

 
$

 
$

 
$
88.5

Cash equivalents


 


 


 


Money market funds
241.6

 

 
(0.1
)
 
241.5

Municipal securities
1.8

 

 

 
1.8

Commercial paper
1.2

 

 

 
1.2

Corporate notes and obligations
1.1

 

 

 
1.1

Total cash and cash equivalents
$
334.2

 
$

 
$
(0.1
)
 
$
334.1

Short-term investments
 
 
 
 
 
 
 
Corporate notes and obligations
358.3

 
3.3

 
(0.2
)
 
361.4

U.S. Treasury securities
234.1

 
1.7

 

 
235.8

Asset backed securities
83.0

 
0.7

 
(0.1
)
 
83.6

Commercial paper
40.0

 

 

 
40.0

U.S. agency obligations
27.8

 
0.1

 

 
27.9

Certificates of deposit
26.0

 

 

 
26.0

Municipal securities
5.9

 
0.1

 

 
6.0

Foreign government obligations
2.8

 

 

 
2.8

Total short-term investments
777.9

 
5.9

 
(0.3
)
 
783.5

Total
$
1,112.1

 
$
5.9

 
$
(0.4
)
 
$
1,117.6


 
As of December 31, 2019
 
Amortized cost
 
Unrealized gain
 
Unrealized loss
 
Estimated fair value
 
 
 
 
 
 
 
 
Cash
$
105.0

 
$

 
$

 
$
105.0

Cash equivalents:
 
 
 
 
 
 
 
Money market funds
444.3

 

 

 
444.3

Commercial paper
2.0

 

 

 
2.0

Total cash and cash equivalents
$
551.3

 
$

 
$

 
$
551.3

Short-term investments
 
 
 
 
 
 

Corporate notes and obligations
285.5

 
1.2

 
(0.1
)
 
286.6

U.S. Treasury securities
171.0

 
0.3

 

 
171.3

Asset backed securities
53.8

 

 

 
53.8

Certificates of deposit
38.2

 

 

 
38.2

U.S. agency obligations
27.2

 

 

 
27.2

Commercial paper
24.2

 

 

 
24.2

Supranational securities
4.0

 

 

 
4.0

Municipal securities
2.4

 

 

 
2.4

Total short-term investments
606.3

 
1.5

 
(0.1
)
 
607.7

Total
$
1,157.6

 
$
1.5

 
$
(0.1
)
 
$
1,159.0



Contractual Maturities of Short Term Investments
The following table presents the contractual maturities of the Company’s short-term investments as of June 30, 2020:

 
As of June 30, 2020
 
Amortized cost
 
Estimated fair value
 
 
 
 
Due within one year
434.1

 
435.7

Due between one to three years
304.2

 
307.9

Due after three years
39.6

 
39.9

Total
$
777.9

 
$
783.5