Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of financial assets with maturities of less than 90 days included within cash and cash equivalents

The following table summarizes our financial assets with maturities of less than 90 days from the date of purchase included in cash and cash equivalents in our condensed consolidated balance sheets:

(In millions)	As of September 30, 2024		As of December 31, 2023
Money market funds	$	802.4	$	610.7
Total	$	802.4	$	610.7

Marketable debt and equity securities

The following tables summarize our marketable equity securities, classified as available-for-sale:

	As of September 30, 2024
(In millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable equity securities
Marketable equity securities, current	$	58.3	$	—	$	(8.2)	$	50.1
Marketable equity securities, non-current	676.0		—		(421.4)		254.6
Total marketable equity securities	$	734.3	$	—	$	(429.6)	$	304.7

	As of December 31, 2023
(In millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Marketable equity securities
Marketable equity securities, current	$	31.6	$	—	$	(21.0)	$	10.6
Marketable equity securities, non-current	948.3		—		(542.1)		406.2
Total marketable equity securities	$	979.9	$	—	$	(563.1)	$	416.8

Proceeds from marketable debt securities

The proceeds from maturities and sales of marketable debt securities and resulting realized gains and losses are summarized as follows:

(In millions)	For the Three Months Ended September 30, 2023		For the Nine Months Ended September 30, 2023
Proceeds from maturities and sales	$	5,698.6	$	7,380.8
Realized gains	1.0		1.4
Realized losses	16.3		18.4