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v3.19.3.a.u2

Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Summary of Cash and Available-For-Sale Securities | The following tables summarize the Company’s cash and available-for-sale marketable securities’ amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category reported as cash and cash equivalents or short-term or long-term investments as of December 31, 2019, and 2018 (in millions):
|  |  |  |  |  |  |  |  | Reported as: |  |  |  |
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Short-term Investments |  | Long-term Investments
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 413.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 413.1 |  |  | $ | 413.1 |  |  | $ | — |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 726.8 |  |  | — |  |  | — |  |  | 726.8 |  |  | 726.8 |  |  | — |  |  | — |
U.S. treasuries | 1,935.8 |  |  | 9.7 |  |  | (0.4) |  |  | 1,945.1 |  |  | — |  |  | 890.8 |  |  | 1,054.3 |
Subtotal | 2,662.6 |  |  | 9.7 |  |  | (0.4) |  |  | 2,671.9 |  |  | 726.8 |  |  | 890.8 |  |  | 1,054.3 |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | 165.1 |  |  | — |  |  | — |  |  | 165.1 |  |  | 25.5 |  |  | 139.6 |  |  | — |
Corporate securities | 2,096.1 |  |  | 16.8 |  |  | (0.2) |  |  | 2,112.7 |  |  | — |  |  | 798.5 |  |  | 1,314.2 |
U.S. government agencies | 418.3 |  |  | 1.1 |  |  | (0.2) |  |  | 419.2 |  |  | — |  |  | 209.6 |  |  | 209.6 |
Non-U.S. government securities | 4.5 |  |  | — |  |  | — |  |  | 4.5 |  |  | — |  |  | 4.5 |  |  | — |
Municipal securities | 58.4 |  |  | 0.3 |  |  | — |  |  | 58.7 |  |  | 2.2 |  |  | 11.1 |  |  | 45.4 |
Subtotal | 2,742.4 |  |  | 18.2 |  |  | (0.4) |  |  | 2,760.2 |  |  | 27.7 |  |  | 1,163.3 |  |  | 1,569.2 |
Total assets measured at fair value | $ | 5,818.1 |  |  | $ | 27.9 |  |  | $ | (0.8) |  |  | $ | 5,845.2 |  |  | $ | 1,167.6 |  |  | $ | 2,054.1 |  |  | $ | 2,623.5 |
|  |  |  |  |  |  |  |  | Reported as: |  |  |  |
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Short-term Investments |  | Long-term Investments
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 269.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 269.4 |  |  | $ | 269.4 |  |  | $ | — |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 569.1 |  |  | — |  |  | — |  |  | 569.1 |  |  | 569.1 |  |  | — |  |  | — |
U.S. treasuries | 1,477.8 |  |  | 1.7 |  |  | (5.3) |  |  | 1,474.2 |  |  | 10.0 |  |  | 897.8 |  |  | 566.4 |
Subtotal | 2,046.9 |  |  | 1.7 |  |  | (5.3) |  |  | 2,043.3 |  |  | 579.1 |  |  | 897.8 |  |  | 566.4 |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | 110.7 |  |  | — |  |  | — |  |  | 110.7 |  |  | 1.4 |  |  | 109.3 |  |  | — |
Corporate securities | 1,607.8 |  |  | 1.3 |  |  | (4.8) |  |  | 1,604.3 |  |  | 8.0 |  |  | 724.5 |  |  | 871.8 |
U.S. government agencies | 791.8 |  |  | 0.3 |  |  | (3.8) |  |  | 788.3 |  |  | — |  |  | 468.9 |  |  | 319.4 |
Municipal securities | 18.4 |  |  | — |  |  | — |  |  | 18.4 |  |  | — |  |  | 4.7 |  |  | 13.7 |
Subtotal | 2,528.7 |  |  | 1.6 |  |  | (8.6) |  |  | 2,521.7 |  |  | 9.4 |  |  | 1,307.4 |  |  | 1,204.9 |
Total assets measured at fair value | $ | 4,845.0 |  |  | $ | 3.3 |  |  | $ | (13.9) |  |  | $ | 4,834.4 |  |  | $ | 857.9 |  |  | $ | 2,205.2 |  |  | $ | 1,771.3 |
Summary Of Contractual Maturities Of Cash Equivalents And Available-For-Sale Investments | The following table summarizes the contractual maturities of the Company’s cash equivalents and available-for-sale investments (excluding cash and money market funds) at December 31, 2019 (in millions):
| Amortized Cost |  | Fair Value
Mature in less than one year | $ | 2,082.4 |  |  | $ | 2,087.7 |
Mature in one to five years | 2,595.8 |  |  | 2,617.6 |
Total | $ | 4,678.2 |  |  | $ | 4,705.3 |
Schedule Of Available-For-Sale Investments With Unrealized Losses | The following tables present the breakdown of the available-for-sale investments with unrealized losses at December 31, 2019, and 2018 (in millions):
| Unrealized losses less than 12 months |  |  |  | Unrealized losses 12 months or greater |  |  |  | Total |  |
December 31, 2019 | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Corporate securities | $ | 237.0 |  |  | $ | (0.2) |  |  | $ | — |  |  | $ | — |  |  | $ | 237.0 |  |  | $ | (0.2) |
U.S. treasuries | 236.5 |  |  | (0.2) |  |  | 87.5 |  |  | (0.2) |  |  | 324.0 |  |  | (0.4) |
U.S. government agencies | 45.9 |  |  | (0.1) |  |  | 45.5 |  |  | (0.1) |  |  | 91.4 |  |  | (0.2) |
Total | $ | 519.4 |  |  | $ | (0.5) |  |  | $ | 133.0 |  |  | $ | (0.3) |  |  | $ | 652.4 |  |  | $ | (0.8) |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate securities | $ | 727.4 |  |  | $ | (1.7) |  |  | $ | 409.6 |  |  | $ | (3.1) |  |  | $ | 1,137.0 |  |  | $ | (4.8) |
U.S. treasuries | 478.7 |  |  | (0.9) |  |  | 592.8 |  |  | (4.4) |  |  | 1,071.5 |  |  | (5.3) |
U.S. government agencies | 228.0 |  |  | (0.2) |  |  | 425.2 |  |  | (3.6) |  |  | 653.2 |  |  | (3.8) |
Total | $ | 1,434.1 |  |  | $ | (2.8) |  |  | $ | 1,427.6 |  |  | $ | (11.1) |  |  | $ | 2,861.7 |  |  | $ | (13.9) |
Derivative Instruments Used to Hedge against Balance Sheet Foreign Currency Exposures | These derivative instruments are used to hedge against balance sheet foreign currency exposures. The related gains and losses were as follows (in millions):
| Years Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Recognized gains (losses) in interest and other income, net | $ | 6.4 |  |  | $ | 8.7 |  |  | $ | (9.2) |
Foreign exchange gains (losses) related to balance sheet re-measurement | $ | (1.5) |  |  | $ | (2.6) |  |  | $ | 9.7 |
Gross Notional Amounts for Outstanding Derivatives | Total gross notional amounts (in USD) for derivatives and the aggregate gross fair value outstanding at the end of each period were as follows (in millions):
| Derivatives Designated as Hedging Instruments |  |  |  | Derivatives Not Designated as Hedging Instruments |  |
| December 31, 2019 |  | December 31, 2018 |  | December 31, 2019 |  | December 31, 2018
Notional amounts: |  |  |  |  |  |  |
Forward contracts | $ | 154.5 |  |  | $ | 183.0 |  |  | $ | 227.2 |  |  | $ | 182.7 |
Gross fair value recorded in: |  |  |  |  |  |  |
Prepaid and other current assets | $ | 1.3 |  |  | $ | 3.1 |  |  | $ | 2.2 |  |  | $ | 4.1 |
Other accrued liabilities | $ | 0.5 |  |  | $ | 0.9 |  |  | $ | 0.7 |  |  | $ | 1.1 |

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