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v3.22.2.2

Marketable Securities (Tables) | 9 Months Ended
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Sep. 30, 2022
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 September 30, 2022 |  | Cost Basis |  | Gains |  | Losses |  | Value
Corporate bonds |  | $ | 7,299.0 |  |  | $ | 0.1 |  |  | $ | (334.3) |  |  | $ | 6,964.8 |
U.S. government and government agency obligations |  | 476.3 |  |  | — |  |  | (7.2) |  |  | 469.1 |
Sovereign bonds |  | 45.7 |  |  | — |  |  | (2.4) |  |  | 43.3 |
Commercial paper |  | 606.6 |  |  | — |  |  | (0.6) |  |  | 606.0 |
Certificates of deposit |  | 261.3 |  |  | — |  |  | (0.4) |  |  | 260.9 |
Asset-backed securities |  | 27.4 |  |  | — |  |  | (1.9) |  |  | 25.5 |
|  | $ | 8,716.3 |  |  | $ | 0.1 |  |  | $ | (346.8) |  |  | $ | 8,369.6 |
As of December 31, 2021 |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 7,518.4 |  |  | $ | 10.2 |  |  | $ | (40.9) |  |  | $ | 7,487.7 |
U.S. government and government agency obligations |  | 109.0 |  |  | 0.3 |  |  | (0.8) |  |  | 108.5 |
Sovereign bonds |  | 64.4 |  |  | 0.3 |  |  | (0.3) |  |  | 64.4 |
Commercial paper |  | 439.7 |  |  | — |  |  | (0.1) |  |  | 439.6 |
Certificates of deposit |  | 255.2 |  |  | — |  |  | (0.1) |  |  | 255.1 |
Asset-backed securities |  | 42.0 |  |  | — |  |  | (0.1) |  |  | 41.9 |
|  | $ | 8,428.7 |  |  | $ | 10.8 |  |  | $ | (42.3) |  |  | $ | 8,397.2 |
Marketable Securities, Based on Contractual Maturity Dates | The fair values of available-for-sale debt securities by contractual maturity consist of the following:
|  | September 30, |  | December 31,
(In millions) |  | 2022 |  | 2021
Maturities within one year |  | $ | 3,530.4 |  |  | $ | 2,809.1 |
Maturities after one year through five years |  | 4,839.2 |  |  | 5,588.1 |
|  | $ | 8,369.6 |  |  | $ | 8,397.2 |
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 September 30, 2022 | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds | $ | 5,360.5 |  |  | $ | (224.8) |  |  | $ | 1,561.9 |  |  | $ | (109.5) |  |  | $ | 6,922.4 |  |  | $ | (334.3) |
U.S. government and government agency obligations | 249.3 |  |  | (4.8) |  |  | 20.9 |  |  | (2.4) |  |  | 270.2 |  |  | (7.2) |
Sovereign bonds | 27.5 |  |  | (1.4) |  |  | 15.8 |  |  | (1.0) |  |  | 43.3 |  |  | (2.4) |
Commercial paper | 591.0 |  |  | (0.6) |  |  | — |  |  | — |  |  | 591.0 |  |  | (0.6) |
Certificates of deposit | 214.9 |  |  | (0.4) |  |  | — |  |  | — |  |  | 214.9 |  |  | (0.4) |
Asset-backed securities | 20.0 |  |  | (1.4) |  |  | 5.5 |  |  | (0.5) |  |  | 25.5 |  |  | (1.9) |
| $ | 6,463.2 |  |  | $ | (233.4) |  |  | $ | 1,604.1 |  |  | $ | (113.4) |  |  | $ | 8,067.3 |  |  | $ | (346.8) |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | 5,889.3 |  |  | $ | (40.9) |  |  | $ | — |  |  | $ | — |  |  | $ | 5,889.3 |  |  | $ | (40.9) |
U.S. government and government agency obligations | 90.0 |  |  | (0.8) |  |  | — |  |  | — |  |  | 90.0 |  |  | (0.8) |
Sovereign bonds | 37.0 |  |  | (0.3) |  |  | — |  |  | — |  |  | 37.0 |  |  | (0.3) |
Commercial paper | 295.7 |  |  | (0.1) |  |  | — |  |  | — |  |  | 295.7 |  |  | (0.1) |
Certificates of deposit | 169.4 |  |  | (0.1) |  |  | — |  |  | — |  |  | 169.4 |  |  | (0.1) |
Asset-backed securities | 34.9 |  |  | (0.1) |  |  | — |  |  | — |  |  | 34.9 |  |  | (0.1) |
| $ | 6,516.3 |  |  | $ | (42.3) |  |  | $ | — |  |  | $ | — |  |  | $ | 6,516.3 |  |  | $ | (42.3) |

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