XML 29 R10.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Debt Securities | 12 Months Ended
--- | ---
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Debt Securities | Debt Securities The following table presents the amortized cost, unrealized gain and loss recognized in accumulated other comprehensive income (loss) and fair value of debt securities available-for-sale, aggregated by major security type and contractual maturity.
|  |  | December 31, 2023 |  | December 31, 2022
(in millions) | Contractual Maturity |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value
Commercial paper | 0 to 1 years |  | $ | 53.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 53.5 |  |  | $ | 156.2 |  |  | $ | — |  |  | $ | (0.2) |  |  | $ | 156.0 |
Corporate debt securities | 0 to 1 years |  | 382.1 |  |  | 0.1 |  |  | (1.0) |  |  | 381.2 |  |  | 296.2 |  |  | — |  |  | (3.2) |  |  | 293.0 |
Securities of government-sponsored entities | 0 to 1 years |  | 346.1 |  |  | 0.2 |  |  | (0.5) |  |  | 345.8 |  |  | 283.4 |  |  | — |  |  | (6.0) |  |  | 277.4 |
|  |  | $ | 781.7 |  |  | $ | 0.3 |  |  | $ | (1.5) |  |  | $ | 780.5 |  |  | $ | 735.8 |  |  | $ | — |  |  | $ | (9.4) |  |  | $ | 726.4 |
Corporate debt securities | 1 to 3 years |  | $ | 483.5 |  |  | $ | 2.9 |  |  | $ | (0.4) |  |  | $ | 486.0 |  |  | $ | 259.5 |  |  | $ | 0.2 |  |  | $ | (4.3) |  |  | $ | 255.4 |
Securities of government-sponsored entities | 1 to 3 years |  | 201.1 |  |  | 0.5 |  |  | (0.1) |  |  | 201.5 |  |  | 45.0 |  |  | — |  |  | (1.0) |  |  | 44.0 |
|  |  | $ | 684.6 |  |  | $ | 3.4 |  |  | $ | (0.5) |  |  | $ | 687.5 |  |  | $ | 304.5 |  |  | $ | 0.2 |  |  | $ | (5.3) |  |  | $ | 299.4 |
Unrealized losses on our available-for-sale debt security investments were primarily due to changes in interest rates. These investments are of high credit quality, and we do not intend to sell these investments and it is not more likely than not that we will be required to sell these investments before recovery of their amortized cost basis. No allowance for credit losses was recognized as of December 31, 2023 or 2022. The following table presents debt securities available-for-sale that were in an unrealized loss position as of December 31, 2023, aggregated by major security type and length of time in a continuous loss position.
| Less Than 12 Months |  | 12 Months or Longer |  | Total
(in millions) | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate debt securities | $ | 265.1 |  |  | $ | (0.4) |  |  | $ | 183.8 |  |  | $ | (1.0) |  |  | $ | 448.9 |  |  | $ | (1.4) |
Securities of government-sponsored entities | $ | 214.6 |  |  | $ | (0.2) |  |  | $ | 16.7 |  |  | $ | (0.4) |  |  | $ | 231.3 |  |  | $ | (0.6) |
The following table presents debt securities available-for-sale that were in an unrealized loss position as of December 31, 2022, aggregated by major security type and length of time in a continuous loss position.
| Less Than 12 Months |  | 12 Months or Longer |  | Total
(in millions) | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Commercial paper | $ | 32.1 |  |  | $ | (0.2) |  |  | $ | — |  |  | $ | — |  |  | $ | 32.1 |  |  | $ | (0.2) |
Corporate debt securities | $ | 199.5 |  |  | $ | (1.9) |  |  | $ | 299.1 |  |  | $ | (5.6) |  |  | $ | 498.6 |  |  | $ | (7.5) |
Securities of government-sponsored entities | $ | 107.7 |  |  | $ | (2.5) |  |  | $ | 198.4 |  |  | $ | (4.5) |  |  | $ | 306.1 |  |  | $ | (7.0) |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) -Publisher SEC Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//940-320/tableOfContent Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration