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Balance Sheet Details
 9 Months Ended
Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Details
4. Balance Sheet Details
Short-Term Marketable Securities
Short-term marketable securities, consisting of available-for-sale debt securities, were as follows as of the dates indicated:
September 30, 2022
(In millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Market
Value
Debt securities, available-for-sale:
U.S. government agencies (1)
$1,336.8 $— $(9.8)$1,327.0 
Commercial paper202.0 — (0.2)201.8 
Corporate debt132.4 — (0.9)131.5 
Supranationals13.5 — — 13.5 
Total debt securities, available-for-sale$1,684.7 $— $(10.9)$1,673.8 
December 31, 2021
(In millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Market
Value
Debt securities, available-for-sale:
U.S. government agencies$1,212.1 $— $(1.5)$1,210.6 
Commercial paper189.8 — (0.1)189.7 
Corporate debt224.6 — (0.3)224.3 
Supranationals54.1 — (0.1)54.0 
Total debt securities, available-for-sale$1,680.6 $— $(2.0)$1,678.6 
(1) Includes debt obligations issued by U.S. government-sponsored enterprises or U.S. government agencies.
As of September 30, 2022, the estimated market value of our debt securities with contractual maturities up to twelve months was $1.67 billion. As of December 31, 2021, the estimated market value of our debt securities with contractual maturities up to twelve months and up to 18 months was $1.36 billion and $320.7 million, respectively. Gross realized gains and losses on sales of our debt securities for the three and nine months ended September 30, 2022 and September 30, 2021 were not significant.
We periodically review our portfolio of debt securities to determine if any investment is impaired due to credit loss or other potential valuation concerns. For debt securities where the fair value of the investment is less than the amortized cost basis, we have assessed at the individual security level for various quantitative factors including, but not limited to, the nature of the investments, changes in credit ratings, interest rate fluctuations, industry analyst reports, and the severity of impairment. Unrealized losses on available-for-sale debt securities at September 30, 2022 were primarily due to increases in interest rates, including market credit spreads, and not due to increased credit risks associated with specific securities. Accordingly, we have not recorded an allowance for credit losses. 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)September 30, 2022December 31, 2021
Raw materials$165.2 $145.2 
Work-in-process31.6 16.2 
Finished goods114.2 195.9 
Total inventory$311.0 $357.3 
Prepaid and Other Current Assets
(In millions)September 30, 2022December 31, 2021
Prepaid expenses$90.5 $51.9 
Income tax receivables33.0 2.3 
Other current assets28.0 27.4 
Total prepaid and other current assets$151.5 $81.6 
Property and Equipment
(In millions)September 30, 2022December 31, 2021
Land (1)
$25.6 $15.6 
Building (1)
54.3 49.1 
Furniture and fixtures32.8 30.7 
Computer software and hardware57.4 52.7 
Machinery and equipment360.6 272.9 
Leasehold improvements272.4 251.6 
Construction in progress 537.9 360.7 
Total cost1,341.0 1,033.3 
Less accumulated depreciation and amortization(338.5)(231.5)
Total property and equipment, net$1,002.5 $801.8 
(1) Represents finance lease right-of-use assets.
Other Assets
Other assets were $33.7 million and $10.5 million as of September 30, 2022 and December 31, 2021, respectively. The increase in other assets is primarily due to an increase in long-term equity investments in privately held entities and a term deposit.
Accounts Payable and Accrued Liabilities
(In millions)September 30, 2022December 31, 2021
As Adjusted
Accounts payable trade$198.1 $189.4 
Accrued tax, audit, and legal fees33.7 40.6 
Accrued rebates 467.0 260.5 
Accrued warranty13.4 12.9 
Contractual obligations— 15.0 
Other accrued liabilities 52.0 54.6 
Total accounts payable and accrued liabilities$764.2 $573.0 
Accrued Payroll and Related Expenses
(In millions)September 30, 2022December 31, 2021
Accrued wages, bonus and taxes$83.3 $91.8 
Other accrued employee benefits29.4 33.4 
Total accrued payroll and related expenses$112.7 $125.2 
Other Long-Term Liabilities
(In millions)September 30, 2022December 31, 2021
Finance lease obligations
$60.4 $57.0 
Deferred revenue, long-term23.6 16.1 
Deferred tax liabilities5.3 5.9 
Other tax liabilities25.5 2.8 
Other liabilities8.5 8.2 
Total other long-term liabilities$123.3 $90.0