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v3.26.1

Fair Value Measurements (Details) - USD ($) $ in Millions | 3 Months Ended |
--- | --- | ---
Mar. 31, 2026 | Mar. 31, 2025 | Dec. 31, 2025
Liabilities |  |  |
Net unrealized losses on equity securities | $ 61.6 | $ 5.3 |
Increase in fair value of contingent consideration liability | 1.7 |  |
Other income (expense), net |  |  |
Liabilities |  |  |
Net unrealized losses on equity securities | 61.6 | $ 5.3 |
Level 1 |  |  |
Assets |  |  |
Equity securities | 65.3 |  | $ 126.9
Total assets | 668.3 |  | 880.0
Liabilities |  |  |
Contingent consideration | 0.0 |  | 0.0
Total liabilities | 0.0 |  | 0.0
Level 1 | U.S. government and agency securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 0.0 |  | 0.0
Level 1 | Corporate debt securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 0.0 |  | 0.0
Level 1 | Money market funds |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | 397.5 |  | 753.1
Level 1 | Time deposits |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | 205.5 |  | 0.0
Level 2 |  |  |
Assets |  |  |
Equity securities | 0.0 |  | 0.0
Total assets | 2,126.1 |  | 3,050.0
Liabilities |  |  |
Contingent consideration | 0.0 |  | 0.0
Total liabilities | 0.0 |  | 0.0
Level 2 | U.S. government and agency securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 1,722.7 |  | 2,443.2
Level 2 | Corporate debt securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 403.4 |  | 606.8
Level 2 | Money market funds |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | 0.0 |  | 0.0
Level 2 | Time deposits |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | 0.0 |  | 0.0
Level 3 |  |  |
Assets |  |  |
Equity securities | 0.0 |  | 0.0
Total assets | 0.0 |  | 0.0
Liabilities |  |  |
Contingent consideration | 34.2 |  | 32.5
Total liabilities | 34.2 |  | 32.5
Level 3 | U.S. government and agency securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 0.0 |  | 0.0
Level 3 | Corporate debt securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 0.0 |  | 0.0
Level 3 | Money market funds |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | 0.0 |  | 0.0
Level 3 | Time deposits |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | 0.0 |  | 0.0
Balance |  |  |
Assets |  |  |
Equity securities | 65.3 |  | 126.9
Total assets | 2,794.4 |  | 3,930.0
Liabilities |  |  |
Contingent consideration | 34.2 |  | 32.5
Total liabilities | 34.2 |  | 32.5
Balance | U.S. government and agency securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 1,722.7 |  | 2,443.2
Balance | Corporate debt securities |  |  |
Assets |  |  |
Debt securities, available-for-sale | 403.4 |  | 606.8
Balance | Money market funds |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | 397.5 |  | 753.1
Balance | Time deposits |  |  |
Assets |  |  |
Cash and cash equivalents, fair value disclosure | $ 205.5 |  | $ 0.0

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