XML 68 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Subject to Fair Value Measurements
The following tables set forth our financial assets and liabilities subject to fair value measurements by level within the fair value hierarchy:
As of December 31, 2024As of December 31, 2023
Fair Value Hierarchy
Fair Value Hierarchy
Total
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
(in millions)
Financial instruments carried at fair value (asset positions):
Cash equivalents$1,687.1 $613.3 $1,073.8 $— $7,033.9 $5,397.3 $1,636.6 $— 
Marketable securities:
Corporate equity securities36.6 36.6 — — 46.0 46.0 — — 
U.S. Treasury securities1,602.0 1,566.8 35.2 — 546.5 546.5 — — 
U.S. government agency securities
240.5 — 240.5 — 425.2 — 425.2 — 
Asset-backed securities1,244.2 — 1,244.2 — 306.0 — 306.0 — 
Certificates of deposit— — — — 33.7 — 33.7 — 
Corporate debt securities3,525.9 — 3,525.9 — 1,802.8 — 1,802.8 — 
Commercial paper5.0 — 5.0 — 186.8 — 186.8 — 
Prepaid expenses and other current assets:
Foreign currency forward contracts130.1 — 130.1 — 1.8 — 1.8 — 
Other assets:
Foreign currency forward contracts12.4 — 12.4 — — — — — 
Total financial assets
$8,483.8 $2,216.7 $6,267.1 $— $10,382.7 $5,989.8 $4,392.9 $— 
Financial instruments carried at fair value (liability positions):
Other current liabilities:
Foreign currency forward contracts$— $— $— $— $(33.7)$— $(33.7)$— 
Other long-term liabilities:
Contingent consideration(76.9)— — (76.9)(77.4)— — (77.4)
Total financial liabilities$(76.9)$— $— $(76.9)$(111.1)$— $(33.7)$(77.4)
Schedule of Fair Value of Our Contingent Consideration Liabilities
The following table represents a rollforward of the fair value of our contingent consideration liabilities:
Year Ended December 31, 2024
(in millions)
Balance at December 31, 2023
$77.4 
Decrease in fair value of contingent payments
(0.5)
Balance at December 31, 2024
$76.9