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Marketable Securities (Tables) | 9 Months Ended
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Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
Available-for-sale Debt Securities | The following tables summarize the Company's investments in available-for-sale debt securities:
|  | Amortized |  | Unrealized |  | Fair
As of September 30, 2020 |  | Cost Basis |  | Gains |  | Losses |  | Value
Corporate bonds |  | $ | 2,796.6 |  |  | $ | 40.1 |  |  | $ | (0.7) |  |  | $ | 2,836.0 |
U.S. government and government agency obligations |  | 133.5 |  |  | 1.3 |  |  | (0.1) |  |  | 134.7 |
Sovereign bonds |  | 65.4 |  |  | 1.2 |  |  | — |  |  | 66.6 |
Commercial paper |  | 390.4 |  |  | 0.2 |  |  | — |  |  | 390.6 |
Certificates of deposit |  | 122.4 |  |  | 0.1 |  |  | — |  |  | 122.5 |
|  | $ | 3,508.3 |  |  | $ | 42.9 |  |  | $ | (0.8) |  |  | $ | 3,550.4 |
As of December 31, 2019 |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 3,960.5 |  |  | $ | 27.8 |  |  | $ | (0.2) |  |  | $ | 3,988.1 |
U.S. government and government agency obligations |  | 54.3 |  |  | 0.2 |  |  | (0.1) |  |  | 54.4 |
Sovereign bonds |  | 26.9 |  |  | 0.4 |  |  | — |  |  | 27.3 |
Commercial paper |  | 92.3 |  |  | — |  |  | — |  |  | 92.3 |
Certificates of deposit |  | 72.3 |  |  | 0.1 |  |  | — |  |  | 72.4 |
|  | $ | 4,206.3 |  |  | $ | 28.5 |  |  | $ | (0.3) |  |  | $ | 4,234.5 |
Marketable Securities, Based on Contractual Maturity Dates | The fair values of available-for-sale debt security investments by contractual maturity consist of the following:
|  | September 30, |  | December 31,
|  | 2020 |  | 2019
Maturities within one year |  | $ | 1,452.9 |  |  | $ | 1,596.5 |
Maturities after one year through five years |  | 2,097.5 |  |  | 2,638.0 |
|  | $ | 3,550.4 |  |  | $ | 4,234.5 |
Fair Value and Unrealized Losses of Marketable Securities | The following table shows the fair value of the Company's available-for-sale debt securities that have unrealized losses, aggregated by investment category and length of time that the individual securities have been in a continuous loss position.
| Less than 12 Months |  | 12 Months or Greater |  | Total
As of September 30, 2020 | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds | $ | 560.5 |  |  | $ | (0.7) |  |  | — |  |  | — |  |  | $ | 560.5 |  |  | $ | (0.7) |
U.S. government and government agency obligations | 45.5 |  |  | (0.1) |  |  | — |  |  | — |  |  | 45.5 |  |  | (0.1) |
| $ | 606.0 |  |  | $ | (0.8) |  |  | — |  |  | — |  |  | $ | 606.0 |  |  | $ | (0.8) |
As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | 257.2 |  |  | $ | (0.2) |  |  | — |  |  | — |  |  | $ | 257.2 |  |  | $ | (0.2) |
U.S. government and government agency obligations | 17.3 |  |  | (0.1) |  |  | — |  |  | — |  |  | 17.3 |  |  | (0.1) |
| $ | 274.5 |  |  | $ | (0.3) |  |  | — |  |  | — |  |  | $ | 274.5 |  |  | $ | (0.3) |

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