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Marketable Securities (Tables) | 3 Months Ended
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Mar. 31, 2021
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:
(In millions) |  | Amortized |  | Unrealized |  | Fair
As of March 31, 2021 |  | Cost Basis |  | Gains |  | Losses |  | Value
Corporate bonds |  | $ | 3,610.4 |  |  | $ | 27.7 |  |  | $ | (5.9) |  |  | $ | 3,632.2 |
U.S. government and government agency obligations |  | 487.4 |  |  | 0.6 |  |  | (0.2) |  |  | 487.8 |
Sovereign bonds |  | 65.0 |  |  | 0.8 |  |  | (0.1) |  |  | 65.7 |
Commercial paper |  | 254.2 |  |  | 0.1 |  |  | — |  |  | 254.3 |
Certificates of deposit |  | 167.1 |  |  | 0.1 |  |  | — |  |  | 167.2 |
|  | $ | 4,584.1 |  |  | $ | 29.3 |  |  | $ | (6.2) |  |  | $ | 4,607.2 |
As of December 31, 2020 |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 3,053.0 |  |  | $ | 37.5 |  |  | $ | (0.2) |  |  | $ | 3,090.3 |
U.S. government and government agency obligations |  | 127.6 |  |  | 1.3 |  |  | — |  |  | 128.9 |
Sovereign bonds |  | 65.2 |  |  | 1.1 |  |  | — |  |  | 66.3 |
Commercial paper |  | 276.0 |  |  | 0.1 |  |  | — |  |  | 276.1 |
Certificates of deposit |  | 127.4 |  |  | 0.1 |  |  | — |  |  | 127.5 |
|  | $ | 3,649.2 |  |  | $ | 40.1 |  |  | $ | (0.2) |  |  | $ | 3,689.1 |
Marketable Securities, Based on Contractual Maturity Dates | The fair values of available-for-sale debt securities by contractual maturity consist of the following:
|  | March 31, |  | December 31,
(In millions) |  | 2021 |  | 2020
Maturities within one year |  | $ | 2,065.9 |  |  | $ | 1,393.3 |
Maturities after one year through five years |  | 2,541.3 |  |  | 2,295.8 |
|  | $ | 4,607.2 |  |  | $ | 3,689.1 |
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
(In millions) As of March 31, 2021 | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds | $ | 1,304.1 |  |  | $ | (5.9) |  |  | — |  |  | — |  |  | $ | 1,304.1 |  |  | $ | (5.9) |
U.S. government and government agency obligations | 123.1 |  |  | (0.2) |  |  | — |  |  | — |  |  | 123.1 |  |  | (0.2) |
Sovereign bonds | 28.0 |  |  | (0.1) |  |  | — |  |  | — |  |  | 28.0 |  |  | (0.1) |
| $ | 1,455.2 |  |  | $ | (6.2) |  |  | — |  |  | — |  |  | $ | 1,455.2 |  |  | $ | (6.2) |
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | 364.5 |  |  | $ | (0.2) |  |  | — |  |  | — |  |  | $ | 364.5 |  |  | $ | (0.2) |

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