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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of assets measured at fair value on a recurring basis | The table below summarizes the Company's assets which are measured at fair value on a recurring basis. The following fair value hierarchy is used to classify assets, based on inputs to valuation techniques utilized to measure fair value: •Level 1 - Quoted prices in active markets for identical assets •Level 2 - Significant other observable inputs, such as quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuations in which significant inputs used are observable •Level 3 - Significant other unobservable inputs
(In millions) |  |  | Fair Value Measurements at Reporting Date
As of March 31, 2023 | Fair Value |  | Level 1 |  | Level 2
Cash equivalents | $ | 1,422.7 |  |  | $ | 154.1 |  |  | $ | 1,268.6 |
Available-for-sale debt securities: |  |  |  |  |
Corporate bonds | 6,592.2 |  |  | — |  |  | 6,592.2 |
U.S. government and government agency obligations | 2,903.4 |  |  | — |  |  | 2,903.4 |
Sovereign bonds | 70.4 |  |  | — |  |  | 70.4 |
Commercial paper | 279.1 |  |  | — |  |  | 279.1 |
Certificates of deposit | 153.7 |  |  | — |  |  | 153.7 |
Asset-backed securities | 52.5 |  |  | — |  |  | 52.5 |
Equity securities (unrestricted) | 20.7 |  |  | 20.7 |  |  | — |
Equity securities (restricted) | 1,038.0 |  |  | 1,028.3 |  |  | 9.7 |
| $ | 12,532.7 |  |  | $ | 1,203.1 |  |  | $ | 11,329.6 |
As of December 31, 2022 |  |  |  |  |
Cash equivalents | $ | 1,662.8 |  |  | $ | 88.3 |  |  | $ | 1,574.5 |
Available-for-sale debt securities: |  |  |  |  |
Corporate bonds | 6,684.4 |  |  | — |  |  | 6,684.4 |
U.S. government and government agency obligations | 2,939.4 |  |  | — |  |  | 2,939.4 |
Sovereign bonds | 64.1 |  |  | — |  |  | 64.1 |
Commercial paper | 121.1 |  |  | — |  |  | 121.1 |
Certificates of deposit | 182.0 |  |  | — |  |  | 182.0 |
Asset-backed securities | 27.2 |  |  | — |  |  | 27.2 |
Equity securities (unrestricted) | 24.6 |  |  | 24.6 |  |  | — |
Equity securities (restricted) | 1,185.4 |  |  | 1,185.4 |  |  | — |
| $ | 12,891.0 |  |  | $ | 1,298.3 |  |  | $ | 11,592.7 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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