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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2022
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 three months from the date of purchase included in cash and cash equivalents in our consolidated balance sheets:
|  | As of December 31,
(In millions) |  | 2022 |  | 2021
Commercial paper |  | $ | 177.2 |  |  | $ | 247.6 |
Overnight reverse repurchase agreements |  | 59.0 |  |  | 200.0 |
Money market funds |  | 2,581.5 |  |  | 901.6 |
Short-term debt securities |  | 29.9 |  |  | 283.0 |
Total |  | $ | 2,847.6 |  |  | $ | 1,632.2 |
Marketable debt and equity securities | The following tables summarize our marketable debt and equity securities, classified as available for sale:
|  | As of December 31, 2022
(In millions) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Marketable debt securities: |  |  |  |  |  |  |  |
Corporate debt securities: |  |  |  |  |  |  |  |
Current |  | $ | 936.2 |  |  | $ | — |  |  | $ | (4.9) |  |  | $ | 931.3 |
Non-current |  | 305.3 |  |  | 0.1 |  |  | (5.1) |  |  | 300.3 |
Government securities: |  |  |  |  |  |  |  |
Current |  | 547.1 |  |  | 0.1 |  |  | (5.0) |  |  | 542.2 |
Non-current |  | 271.4 |  |  | — |  |  | (3.3) |  |  | 268.1 |
Mortgage and other asset backed securities: |  |  |  |  |  |  |  |
Current |  | — |  |  | — |  |  | — |  |  | — |
Non-current |  | 139.1 |  |  | 0.1 |  |  | (1.9) |  |  | 137.3 |
Total marketable debt securities |  | $ | 2,199.1 |  |  | $ | 0.3 |  |  | $ | (20.2) |  |  | $ | 2,179.2 |
Marketable equity securities: |  |  |  |  |  |  |  |
Marketable equity securities, current |  | $ | 1,133.8 |  |  | $ | — |  |  | $ | (342.7) |  |  | $ | 791.1 |
Total marketable equity securities |  | $ | 1,133.8 |  |  | $ | — |  |  | $ | (342.7) |  |  | $ | 791.1 |
|  | As of December 31, 2021
(In millions) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Marketable debt securities: |  |  |  |  |  |  |  |
Corporate debt securities: |  |  |  |  |  |  |  |
Current |  | $ | 723.6 |  |  | $ | 0.1 |  |  | $ | (0.3) |  |  | $ | 723.4 |
Non-current |  | 385.4 |  |  | 0.2 |  |  | (0.8) |  |  | 384.8 |
Government securities: |  |  |  |  |  |  |  |
Current |  | 817.0 |  |  | — |  |  | (0.4) |  |  | 816.6 |
Non-current |  | 377.0 |  |  | 0.1 |  |  | (1.0) |  |  | 376.1 |
Mortgage and other asset backed securities: |  |  |  |  |  |  |  |
Current |  | 1.1 |  |  | — |  |  | — |  |  | 1.1 |
Non-current |  | 131.8 |  |  | — |  |  | (0.7) |  |  | 131.1 |
Total marketable debt securities |  | $ | 2,435.9 |  |  | $ | 0.4 |  |  | $ | (3.2) |  |  | $ | 2,433.1 |
Marketable equity securities: |  |  |  |  |  |  |  |
Marketable equity securities, current |  | $ | 33.9 |  |  | $ | 9.9 |  |  | $ | — |  |  | $ | 43.8 |
Marketable equity securities, non-current |  | 1,133.1 |  |  | 151.0 |  |  | (279.4) |  |  | 1,004.7 |
Total marketable equity securities |  | $ | 1,167.0 |  |  | $ | 160.9 |  |  | $ | (279.4) |  |  | $ | 1,048.5 |
Summary of contractual maturities: available-for-sale securities | The estimated fair value and amortized cost of our marketable debt securities classified as available-for-sale by contractual maturity are summarized as follows:
|  | As of December 31,
|  | 2022 |  | 2021
(In millions) |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost
Due in one year or less |  | $ | 1,473.5 |  |  | $ | 1,483.3 |  |  | $ | 1,541.1 |  |  | $ | 1,541.7 |
Due after one year through five years |  | 694.4 |  |  | 703.7 |  |  | 868.2 |  |  | 870.2 |
Due after five years |  | 11.3 |  |  | 12.1 |  |  | 23.8 |  |  | 24.0 |
Total marketable debt securities |  | $ | 2,179.2 |  |  | $ | 2,199.1 |  |  | $ | 2,433.1 |  |  | $ | 2,435.9 |
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) |  | 2022 |  | 2021 |  | 2020
Proceeds from maturities and sales |  | $ | 3,671.0 |  |  | $ | 3,405.4 |  |  | $ | 7,299.4 |
Realized gains |  | — |  |  | 0.2 |  |  | 17.7 |
Realized losses |  | 12.6 |  |  | 4.0 |  |  | 26.0 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
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