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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments, All Other Investments [Abstract] |
Summary of financial assets with maturities of less than 90 days included within cash and cash equivalents | The following table summarizes our financial assets with maturities of less than 90 days from the date of purchase included in cash and cash equivalents in our consolidated balance sheets:
|  | As of December 31,
(In millions) |  | 2020 |  | 2019
Commercial paper |  | $ | 61.1 |  |  | $ | 384.4 |
Overnight reverse repurchase agreements |  | 37.4 |  |  | 368.8 |
Money market funds |  | 505.1 |  |  | 1,628.5 |
Short-term debt securities |  | 23.3 |  |  | 159.4 |
Total |  | $ | 626.9 |  |  | $ | 2,541.1 |
Debt and equity securities, available-for-sale | The following tables summarize our marketable debt and equity securities, classified as available for sale:
|  | As of December 31, 2020
(In millions) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Corporate debt securities |  |  |  |  |  |  |  |
Current |  | $ | 897.8 |  |  | $ | 0.4 |  |  | $ | (0.2) |  |  | $ | 898.0 |
Non-current |  | 402.5 |  |  | 1.1 |  |  | (0.1) |  |  | 403.5 |
Government securities |  |  |  |  |  |  |  |
Current |  | 380.6 |  |  | 0.1 |  |  | — |  |  | 380.7 |
Non-current |  | 245.9 |  |  | 0.5 |  |  | — |  |  | 246.4 |
Mortgage and other asset backed securities |  |  |  |  |  |  |  |
Current |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Non-current |  | 122.1 |  |  | 0.2 |  |  | (0.1) |  |  | 122.2 |
Total marketable debt securities |  | $ | 2,049.1 |  |  | $ | 2.3 |  |  | $ | (0.4) |  |  | $ | 2,051.0 |
Marketable equity securities, current |  | $ | 70.6 |  |  | $ | 15.9 |  |  | $ | — |  |  | $ | 86.5 |
Marketable equity securities, non-current |  | $ | 1,168.9 |  |  | $ | 733.8 |  |  | $ | (14.9) |  |  | $ | 1,887.8 |
|  | As of December 31, 2019
(In millions) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Corporate debt securities |  |  |  |  |  |  |  |
Current |  | $ | 1,057.2 |  |  | $ | 1.0 |  |  | $ | — |  |  | $ | 1,058.2 |
Non-current |  | 633.9 |  |  | 3.0 |  |  | — |  |  | 636.9 |
Government securities |  |  |  |  |  |  |  |
Current |  | 502.9 |  |  | 0.4 |  |  | — |  |  | 503.3 |
Non-current |  | 510.1 |  |  | 0.8 |  |  | (0.3) |  |  | 510.6 |
Mortgage and other asset backed securities |  |  |  |  |  |  |  |
Current |  | 0.7 |  |  | — |  |  | — |  |  | 0.7 |
Non-current |  | 260.2 |  |  | 0.8 |  |  | (0.4) |  |  | 260.6 |
Total marketable debt securities |  | $ | 2,965.0 |  |  | $ | 6.0 |  |  | $ | (0.7) |  |  | $ | 2,970.3 |
Marketable equity securities, non-current |  | $ | 218.4 |  |  | $ | 132.1 |  |  | $ | (13.0) |  |  | $ | 337.5 |
Summary of contractual maturities: available-for-sale securities | The estimated fair value and amortized cost of our marketable debt securities available-for-sale by contractual maturity are summarized as follows:
|  | As of December 31, 2020 |  | As of December 31, 2019
(In millions) |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost
Due in one year or less |  | $ | 1,278.9 |  |  | $ | 1,278.6 |  |  | $ | 1,562.2 |  |  | $ | 1,560.8 |
Due after one year through five years |  | 722.6 |  |  | 721.3 |  |  | 1,234.5 |  |  | 1,230.4 |
Due after five years |  | 49.5 |  |  | 49.2 |  |  | 173.6 |  |  | 173.8 |
Total marketable debt securities |  | $ | 2,051.0 |  |  | $ | 2,049.1 |  |  | $ | 2,970.3 |  |  | $ | 2,965.0 |
Proceeds from marketable securities, excluding strategic investments | The proceeds from maturities and sales of marketable debt securities and resulting realized gains and losses are summarized as follows:
|  | For the Years Ended December 31,
(In millions) |  | 2020 |  | 2019 |  | 2018
Proceeds from maturities and sales |  | $ | 7,299.4 |  |  | $ | 6,007.0 |  |  | $ | 9,173.7 |
Realized gains |  | 17.7 |  |  | 6.0 |  |  | 3.2 |
Realized losses |  | 26.0 |  |  | 1.5 |  |  | 11.7 |

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