XML 93 R80.htm IDEA: XBRL DOCUMENT v3.25.0.1
Cash, Cash Equivalents, and Marketable Debt Securities - Schedule of Company's Cash and Available-For-Sale (AFS) Debt Securities by Major Asset Category (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financial Instruments [Line Items]    
Adjusted Cost Basis $ 851.8 $ 1,205.8
Unrealized Gain 0.4 0.3
Unrealized Loss (0.0) (0.5)
Fair Value 852.2 1,205.6
Cash and Cash Equivalents 685.0 648.0
Short-Term Marketable Debt Securities 102.0 493.5
Long-Term Marketable Debt Securities 65.2 64.1
Level 1    
Financial Instruments [Line Items]    
Adjusted Cost Basis 31.0 30.9
Unrealized Gain 0.1 0.0
Unrealized Loss (0.0) 0.0
Fair Value 31.1 30.9
Cash and Cash Equivalents 0.2 1.6
Short-Term Marketable Debt Securities 23.0 11.3
Long-Term Marketable Debt Securities 7.9 18.0
Level 2    
Financial Instruments [Line Items]    
Adjusted Cost Basis 136.0 128.5
Unrealized Gain 0.3 0.3
Unrealized Loss (0.0) (0.5)
Fair Value 136.3 128.3
Cash and Cash Equivalents 0.0 0.0
Short-Term Marketable Debt Securities 79.0 82.2
Long-Term Marketable Debt Securities 57.3 46.1
U.S. Government Agency Securities | Level 2    
Financial Instruments [Line Items]    
Adjusted Cost Basis 2.4 [1] 10.1 [2]
Unrealized Gain 0.0 [1] 0.0 [2]
Unrealized Loss 0.0 [1] (0.1) [2]
Fair Value 2.4 [1] 10.0 [2]
Cash and Cash Equivalents 0.0 [1] 0.0 [2]
Short-Term Marketable Debt Securities 0.8 [1] 7.8 [2]
Long-Term Marketable Debt Securities 1.6 [1] 2.2 [2]
Corporate Debt Securities | Level 2    
Financial Instruments [Line Items]    
Adjusted Cost Basis 131.2 [1] 112.5 [2]
Unrealized Gain 0.3 [1] 0.3 [2]
Unrealized Loss (0.0) [1] (0.4) [2]
Fair Value 131.5 [1] 112.4 [2]
Cash and Cash Equivalents 0.0 [1] 0.0 [2]
Short-Term Marketable Debt Securities 75.8 [1] 68.5 [2]
Long-Term Marketable Debt Securities 55.7 [1] 43.9 [2]
Cash and Cash Equivalents    
Financial Instruments [Line Items]    
Adjusted Cost Basis 684.8 646.4
Unrealized Gain 0.0 0.0
Unrealized Loss 0.0 0.0
Fair Value 684.8 646.4
Cash and Cash Equivalents 684.8 646.4
Short-Term Marketable Debt Securities 0.0 0.0
Long-Term Marketable Debt Securities 0.0 0.0
Time Deposits    
Financial Instruments [Line Items]    
Adjusted Cost Basis [2]   400.0
Unrealized Gain [2]   0.0
Unrealized Loss [2]   0.0
Fair Value [2]   400.0
Cash and Cash Equivalents [2]   0.0
Short-Term Marketable Debt Securities [2]   400.0
Long-Term Marketable Debt Securities [2]   0.0
Money Market Fund | Level 1    
Financial Instruments [Line Items]    
Adjusted Cost Basis [3] 0.2 1.6
Unrealized Gain [3] 0.0 0.0
Unrealized Loss [3] 0.0 0.0
Fair Value [3] 0.2 1.6
Cash and Cash Equivalents [3] 0.2 1.6
Short-Term Marketable Debt Securities [3] 0.0 0.0
Long-Term Marketable Debt Securities [3] 0.0 0.0
U.S. Treasury Securities | Level 1    
Financial Instruments [Line Items]    
Adjusted Cost Basis [3] 30.8 29.3
Unrealized Gain [3] 0.1 0.0
Unrealized Loss [3] (0.0) 0.0
Fair Value [3] 30.9 29.3
Cash and Cash Equivalents [3] 0.0 0.0
Short-Term Marketable Debt Securities [3] 23.0 11.3
Long-Term Marketable Debt Securities [3] 7.9 18.0
Certificates of Deposit | Level 2    
Financial Instruments [Line Items]    
Adjusted Cost Basis 2.4 [1] 5.9 [2]
Unrealized Gain 0.0 [1] 0.0 [2]
Unrealized Loss 0.0 [1] 0.0 [2]
Fair Value 2.4 [1] 5.9 [2]
Cash and Cash Equivalents 0.0 [1] 0.0 [2]
Short-Term Marketable Debt Securities 2.4 [1] 5.9 [2]
Long-Term Marketable Debt Securities $ 0.0 [1] $ 0.0 [2]
[1] Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
[2] We had $400.0 million of investments in time deposits classified as HTM debt securities as of December 31, 2023, which matured within one year and were recorded in “Short-term marketable debt securities” on our Consolidated Balance Sheets. We recorded these HTM debt securities at amortized cost, which approximated fair value. We did not have any investments in HTM debt securities as of December 31, 2024, as the investments in time deposits matured on September 12, 2024. The proceeds received from the maturity of these time deposits were used to repay our 3.65% senior notes due 2024, which matured on September 15, 2024.
[3] Valuations based on quoted prices for identical assets and liabilities in active markets.