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Cash, Cash Equivalents and Short-Term Investments
 9 Months Ended
Sep. 30, 2020
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Short-Term Investments Cash, Cash Equivalents and Short-Term InvestmentsThe amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of September 30, 2020 and December 31, 2019 consisted of the following:
As of September 30, 2020
Amortized CostUnrealized GainUnrealized LossEstimated Fair Value
Cash$71.6 $— $— $71.6 
Cash equivalents
Money market funds371.2 — — 371.2 
Commercial paper6.0 — — 6.0 
Corporate notes and obligations2.9 — — 2.9 
Certificates of deposit1.0— — 1.0 
Total cash and cash equivalents$452.7 $— $— $452.7 
Short-term investments
Corporate notes and obligations389.3 3.0 (0.1)392.2 
U.S. Treasury securities205.3 1.3 — 206.6 
Asset backed securities84.0 0.7 — 84.7 
U.S. agency obligations37.00.1— 37.1
Commercial paper24.5— — 24.5
Certificates of deposit16.5 — — 16.5 
Foreign government obligations9.3— — 9.3
Municipal securities2.9— — 2.9
Total short-term investments768.8 5.1 (0.1)773.8 
Total$1,221.5 $5.1 $(0.1)$1,226.5 
As of December 31, 2019
Amortized costUnrealized gainUnrealized lossEstimated fair value
Cash$105.0 $— $— $105.0 
Cash equivalents:
Money market funds444.3 — — 444.3 
Commercial paper2.0 — — 2.0 
Total cash and cash equivalents$551.3 $— $— $551.3 
Short-term investments— 
Corporate notes and obligations285.5 1.2 (0.1)286.6 
U.S. Treasury securities171.0 0.3 — 171.3 
Asset backed securities53.8 — — 53.8 
Certificates of deposit38.2 — — 38.2 
U.S. agency obligations27.2 — — 27.2 
Commercial paper24.2 — — 24.2 
Supranational securities4.0 — — 4.0 
Municipal securities2.4 — — 2.4 
Total short-term investments606.3 1.5 (0.1)607.7 
Total$1,157.6 $1.5 $(0.1)$1,159.0 


Included in cash and cash equivalents is cash in transit from payment processors for credit and debit card transactions of $12.2 million and $11.5 million as of September 30, 2020 and December 31, 2019, respectively.
All short-term investments were designated as available-for-sale securities as of September 30, 2020 and December 31, 2019.

The following table presents the contractual maturities of the Company’s short-term investments as of September 30, 2020:
As of September 30, 2020
Amortized costEstimated fair value
Due within one year348.3 349.2 
Due between one to three years347.3 350.9 
Due after three years73.2 73.7 
Total$768.8 $773.8 

The Company had 55 short-term investments in unrealized loss positions as of September 30, 2020. There were no material unrealized losses from available-for-sale securities and no material realized gains or losses from available-for-sale securities that were reclassified out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2020.

As of September 30, 2020, the Company’s short-term investments portfolio consisted of eight security types, one of which was in an unrealized loss position. The Company’s corporate notes and obligations had unrealized losses of approximately $0.1 million as of September 30, 2020. Unrealized losses on corporate notes and obligations have not been recorded into income because management does not intend to sell nor will be required to sell these securities prior to their anticipated recovery, and for which the decline in fair value is largely due to changes in credit spreads. The credit ratings associated with the corporate notes and obligations are mostly unchanged, are highly rated and the issuers continue to make timely principal and interest payments.
The Company recorded interest income from its cash, cash equivalents, and short-term investments of $2.6 million and $10.4 million during the three and nine months ended September 30, 2020, respectively, and $5.7 million and $17.5 million during the three and nine months ended September 30, 2019, respectively.