Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured On Recurring Basis

The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1:   

	As of September 30, 2020
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	371.2	$	—	$	—	$	371.2
Commercial paper	—		6.0		—		6.0
Corporate notes and obligations	—		2.9		—		2.9
Certificates of deposit	—		1.0		—		1.0
Total cash equivalents	$	371.2	$	9.9	$	—	$	381.1
Short-term investments
Corporate notes and obligations	—		392.2		—		392.2
U.S. Treasury securities	—		206.6		—		206.6
Asset backed securities	—		84.7		—		84.7
U.S. agency obligations	—		37.1		—		37.1
Commercial paper	—		24.5		—		24.5
Certificates of deposit	—		16.5		—		16.5
Foreign government obligations	—		9.3		—		9.3
Municipal securities	—		2.9		—		2.9
Total short-term investments	—		773.8		—		773.8
Total	$	371.2	$	783.7	$	—	$	1,154.9

The Company has an investment in a non-marketable equity security in a privately held company without a readily determinable market value. The investment has a carrying value of $5.6 million and is categorized as Level 3.

	As of December 31, 2019
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	444.3	$	—	$	—	$	444.3
Commercial paper	—		2.0		—		2.0
Total Cash Equivalents	$	444.3	$	2.0	$	—	$	446.3
Short-term investments
Corporate notes and obligations	—		286.6		—		286.6
U.S. Treasury securities	—		171.3		—		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	—		607.7		—		607.7
Equity investments	9.8		—		—		9.8
Total	$	454.1	$	609.7	$	—	$	1,063.8