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Balance Sheet Details
 3 Months Ended
Mar. 31, 2023
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:
March 31, 2023
(In millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Market
Value
Debt securities, available-for-sale:
U.S. government agencies (1)
$1,554.8 $1.0 $(1.0)$1,554.8 
Commercial paper147.1 — (0.1)147.0 
Corporate debt242.1 0.2 (0.3)242.0 
Total debt securities, available-for-sale$1,944.0 $1.2 $(1.4)$1,943.8 
December 31, 2022
(In millions)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Market
Value
Debt securities, available-for-sale:
U.S. government agencies (1)
$1,535.1 $0.2 $(4.6)$1,530.7 
Commercial paper119.6 — (0.2)119.4 
Corporate debt164.3 — (0.5)163.8 
Total debt securities, available-for-sale$1,819.0 $0.2 $(5.3)$1,813.9 
(1) Includes debt obligations issued by U.S. government-sponsored enterprises or U.S. government agencies.
As of March 31, 2023, the estimated market value of our short-term debt securities with contractual maturities up to 12 months was $1.94 billion. As of December 31, 2022, the estimated market value of our short-term debt securities with contractual maturities up to 12 months was $1.81 billion. Gross realized gains and losses on sales of our short-term debt securities for the three months ended March 31, 2023 and March 31, 2022 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 March 31, 2023
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)March 31, 2023December 31, 2022
Raw materials$196.9 $159.0 
Work-in-process27.1 17.2 
Finished goods142.0 130.5 
Total inventory$366.0 $306.7 
Prepaid and Other Current Assets
(In millions)March 31, 2023December 31, 2022
Prepaid expenses$57.4 $48.9 
Prepaid inventory68.0 67.8 
Deferred compensation plan assets13.3 10.2 
Income tax receivables15.7 38.9 
Other current assets43.2 26.8 
Total prepaid and other current assets$197.6 $192.6 
Property and Equipment
(In millions)March 31, 2023December 31, 2022
Land (1)
$26.9 $26.9 
Building (1)
54.3 54.3 
Furniture and fixtures33.8 32.6 
Computer software and hardware49.0 48.8 
Machinery and equipment484.0 449.2 
Leasehold improvements272.9 264.4 
Construction in progress 549.1 542.6 
Total cost1,470.0 1,418.8 
Less accumulated depreciation and amortization(394.5)(363.2)
Total property and equipment, net$1,075.5 $1,055.6 
(1) Represents finance lease right-of-use assets.
Other Assets
(In millions)March 31, 2023December 31, 2022
Long-term deposits$24.6 $16.2 
Other assets32.0 30.9 
Total other assets$56.6 $47.1 
Accounts Payable and Accrued Liabilities
(In millions)March 31, 2023December 31, 2022
Accounts payable trade$266.2 $237.9 
Accrued tax, audit, and legal fees52.2 44.8 
Accrued rebates 574.3 556.4 
Accrued warranty11.3 12.8 
Deferred compensation plan liabilities13.3 10.2 
Other accrued liabilities 47.9 39.7 
Total accounts payable and accrued liabilities$965.2 $901.8 
Accrued Payroll and Related Expenses
(In millions)March 31, 2023December 31, 2022
Accrued wages, bonus and taxes$71.4 $96.8 
Other accrued employee benefits23.4 37.5 
Total accrued payroll and related expenses$94.8 $134.3 
Other Long-Term Liabilities
(In millions)March 31, 2023December 31, 2022
Finance lease obligations
$59.2 $59.6 
Deferred revenue, long-term20.7 19.0 
Deferred tax liabilities4.8 4.9 
Other tax liabilities32.7 32.7 
Other liabilities12.3 12.1 
Total other long-term liabilities$129.7 $128.3