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Financial Instruments
 9 Months Ended
Sep. 30, 2025
Financial Instruments, Owned, at Fair Value, by Type, Alternative [Abstract]  
Financial Instruments Financial Instruments
Cash, Cash Equivalents, and Marketable Securities
The following table summarizes the Company’s cash, cash equivalents, and marketable securities and the fair value categorization of the financial instruments measured at fair value on a recurring basis:
September 30,December 31,
20252024
 (In millions)
Cash$27.6 $21.7 
Time deposits1.8 1.8 
Money market funds (Level 1)203.6 188.6 
Debt securities issued by the U.S. Treasury (Level 1)386.3 393.2 
Total$619.3 $605.3 
Cash and cash equivalents$235.4 $206.7 
Restricted cash (included in Other long-term assets)1.6 5.4 
Total Cash, cash equivalents, and restricted cash237.0 212.1 
Marketable securities382.3 393.2 
Total
$619.3 $605.3 
The gross and net unrealized gains and losses included in the fair value of the debt securities were not significant for the periods presented. All of the debt securities held as of September 30, 2025 are scheduled to mature in less than one year.
Fair Value Measurements
The fair value of the Company’s investments in money market funds approximates their face value. Such instruments are included in Cash and cash equivalents. The fair value of the debt securities consisting of U.S. Treasury bills is based on their quoted market prices. Debt securities purchased with original maturities in excess of three months are included in Marketable securities. The fair value of the Company’s foreign currency forward contracts is based on foreign currency rates quoted by banks or foreign currency dealers and other public data sources. The fair value of all of these financial instruments are classified as Level 1 in the fair value hierarchy.
As of September 30, 2025, the Company’s other financial instruments include cash, accounts receivable, restricted cash, and accounts payable whose carrying values approximated their face values. The aggregate fair value of the Company’s senior notes is $1.74 billion and $1.69 billion as of September 30, 2025 and December 31, 2024, respectively. The fair values of these debt instruments are based on available market information from public data sources and are classified as Level 2.