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Debt (Tables)
 6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The following table shows the carrying values, fair values, and if-converted values in excess of principal amounts for each of our senior convertible notes.
(In millions)
June 30,
2019
 
December 31, 2018
0.75% Senior Convertible Notes due 2022:
 
 
 
Principal amount
$
400.0

 
$
400.0

Unamortized debt discount
(44.2
)
 
(51.1
)
Unamortized debt issuance costs
(5.5
)
 
(6.3
)
Net carrying amount of Senior Convertible Notes due 2022
350.3

 
342.6

 
 
 
 
0.75% Senior Convertible Notes due 2023:
 
 
 
Principal amount
850.0

 
850.0

Unamortized debt discount
(156.1
)
 
(171.8
)
Unamortized debt issuance costs
(9.5
)
 
(10.5
)
Net carrying amount of Senior Convertible Notes due 2023
684.4

 
667.7

 
 
 
 
Total net carrying amount of senior convertible notes
$
1,034.7

 
$
1,010.3

 
 
 
 
Fair value of outstanding senior convertible notes:
 
 
 
Senior Convertible Notes due 2022
$
638.3

 
$
540.2

Senior Convertible Notes due 2023
996.9

 
859.6

Total fair value of outstanding senior convertible notes
$
1,635.2

 
$
1,399.8

 
 
 
 
Amount by which the notes' if-converted value exceeds their principal amount:
 
 
 
Senior Convertible Notes due 2022
$
225.5

 
$
125.4

Senior Convertible Notes due 2023
97.0

 
—

Total by which the notes' if-converted value exceeds their principal amount
$
322.5

 
$
125.4
Schedule of Interest Expense
The following table summarizes the components of interest expense and the effective interest rates for each of our senior convertible notes for the periods shown.
(In millions)
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2019
 
2018
 
2019
 
2018
Interest expense recognized:
 
 
 
 
 
 
 
0.75% Senior Convertible Notes due 2022:
 
 
 
 
 
 
 
Contractual coupon interest
$
0.8

 
$
0.7

 
$
1.5

 
$
1.5

Accretion of debt discount
3.4

 
3.3

 
6.9

 
6.6

Amortization of debt issuance costs
0.4

 
0.4

 
0.8

 
0.8

Interest expense recognized on 2022 Notes
4.6

 
4.4

 
9.2

 
8.9

 
 
 
 
 
 
 
 
0.75% Senior Convertible Notes due 2023:
 
 
 
 
 
 
 
Contractual coupon interest
1.6

 
—

 
3.2

 
—

Accretion of debt discount
7.9

 
—

 
15.7

 
—

Amortization of debt issuance costs
0.5

 
—

 
1.0

 
—

Interest expense recognized on 2023 Notes
10.0

 
—

 
19.9

 
—

 
 
 
 
 
 
 
 
Total interest expense recognized on senior notes
$
14.6

 
$
4.4

 
$
29.1

 
$
8.9

 
 
 
 
 
 
 
 
Effective interest rates:
 
 
 
 
 
 
 
0.75% Senior Convertible Notes due 2022
5.1
%
 
5.1
%
 
5.1
%
 
5.1
%
0.75% Senior Convertible Notes due 2023
5.6
%
 
—

 
5.6
%
 
—