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Balance Sheet Details | 3 Months Ended
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Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet Details | Balance Sheet Details Short-Term Marketable Securities Short-term marketable securities, consisting of equity securities and debt securities, were as follows as of the dates indicated. We sold the equity investment in Tandem Diabetes Care, Inc. that we held as of December 31, 2018 during the first quarter of 2019.
| March 31, 2019
(In millions) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Market Value
Debt securities, available for sale: |  |  |  |  |  |  |
U.S. government agencies | $ | 54.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 54.8 |
Commercial paper | 3.0 |  |  | — |  |  | — |  |  | 3.0 |
Corporate debt | 15.1 |  |  | — |  |  | — |  |  | 15.1 |
Total debt securities, available for sale | 72.9 |  |  | — |  |  | — |  |  | 72.9 |
Total marketable securities | $ | 72.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 72.9 |
| December 31, 2018
(In millions) | Cost or Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Market Value
Equity investment in Tandem Diabetes Care, Inc. | $ | 2.0 |  |  | $ | 36.0 |  |  | $ | — |  |  | $ | 38.0 |
Debt securities, available for sale: |  |  |  |  |  |  |
U.S. government agencies | 173.2 |  |  | — |  |  | (0.1 | ) |  | 173.1 |
Commercial paper | 36.2 |  |  | — |  |  | — |  |  | 36.2 |
Corporate debt | 1.3 |  |  | — |  |  | — |  |  | 1.3 |
Total debt securities, available for sale | 210.7 |  |  | — |  |  | (0.1 | ) |  | 210.6 |
Total marketable securities | $ | 212.7 |  |  | $ | 36.0 |  |  | $ | (0.1 | ) |  | $ | 248.6 |
As of March 31, 2019 and December 31, 2018, all of our debt securities had contractual maturities of less than 12 months. Gross realized gains and losses on sales of our debt securities during the three months ended March 31, 2019 and 2018 were not significant. We periodically review our portfolio of debt securities to determine if any investment is other-than-temporarily impaired due to changes in credit risk or other potential valuation concerns. We believe that the investments we held at March 31, 2019 were not other-than-temporarily impaired. Unrealized losses on available-for-sale debt securities at that date were not significant and were due to changes in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. We do not intend to sell these investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. Inventory
(In millions) | March 31, 2019 |  | December 31, 2018
Raw materials | $ | 52.7 |  |  | $ | 30.8 |
Work-in-process | 10.0 |  |  | 11.2 |
Finished goods | 38.4 |  |  | 28.7 |
Total inventory | $ | 101.1 |  |  | $ | 70.7 |
During the three months ended March 31, 2019 we recorded excess and obsolete inventory charges of $1.6 million in cost of goods sold as a result of our ongoing assessment of sales demand and inventory on hand. Property and Equipment
(In millions) | March 31, 2019 |  | December 31, 2018
Building and land | $ | 15.3 |  |  | $ | 6.0 |
Furniture and fixtures | 9.1 |  |  | 9.0 |
Computer software and hardware | 31.6 |  |  | 29.2 |
Machinery and equipment | 82.5 |  |  | 80.7 |
Leasehold improvements | 83.2 |  |  | 80.7 |
Construction in progress | 88.1 |  |  | 57.3 |
Total cost | 309.8 |  |  | 262.9 |
Less accumulated depreciation and amortization | (88.4 | ) |  | (79.8 | )
Total property and equipment, net | $ | 221.4 |  |  | $ | 183.1 |
Building and Land. Although we do not legally own these premises, under previous lease accounting standards we were deemed the owner of the construction project during the construction period of our manufacturing facility in Mesa, Arizona under a build-to-suit lease arrangement. As a result of our adoption of ASC 842, we have de-recognized the estimated fair value of the building shell that was included in Building in our balance sheet as of December 31, 2018 and the related lease liability and recorded the difference between the asset and liability as an adjustment to retained earnings at the beginning of the first quarter of 2019. See Note 2, “Leases,” for more information on our adoption of ASC 842. Construction in Progress. The increase in construction in progress as of March 31, 2019 compared to December 31, 2018 is primarily due to continued investment in the expansion and automation of our production capabilities. Accounts Payable and Accrued Liabilities
(In millions) | March 31, 2019 |  | December 31, 2018
Accounts payable trade | $ | 90.3 |  |  | $ | 75.5 |
Accrued tax, audit, and legal fees | 12.3 |  |  | 11.7 |
Accrued rebates | 40.9 |  |  | 36.1 |
Accrued warranty | 6.0 |  |  | 6.8 |
Restructuring reserve | 1.1 |  |  | — |
Other accrued liabilities | 18.5 |  |  | 17.0 |
Total accounts payable and accrued liabilities | $ | 169.1 |  |  | $ | 147.1 |
Restructuring Reserve. In February 2019, our Board of Directors approved a restructuring plan that will result in the transition of certain of our operations to the Philippines. We estimate that we will incur total pre-tax charges and costs of approximately $9 million, primarily for employee severance benefits under both ongoing and one-time benefit arrangements. We expect to incur these costs throughout 2019 but primarily in the first half of 2019, and we expect the restructuring activities to be substantially complete by the end of 2019. Other Long-Term Liabilities
(In millions) | March 31, 2019 |  | December 31, 2018
Finance lease liabilities | $ | 15.2 |  |  | $ | 7.3 |
Deferred rent | — |  |  | 9.4 |
Other liabilities | 2.9 |  |  | 3.3 |
Total other long-term liabilities | $ | 18.1 |  |  | $ | 20.0 |
Our adoption of ASC 842 during the first quarter of 2019 affected the balances of finance lease liabilities and deferred rent as of March 31, 2019. See Note 2, “Leases,” for more information.

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