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Available-for-Sale Debt Securities (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Fair Value of Available-For-Sale Debt Securities

The following table presents a summary of available-for-sale debt securities, aggregated by major security type and contractual maturity.

									September 30, 2024																								December 31, 2023
(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						$	37.3					$	—					$	—					$	37.3					$	53.5					$	—					$	—					$	53.5
Corporate debt securities			0 to 1 years						531.4						1.0						(0.1)						532.3						382.1						0.1						(1.0)						381.2
Securities of government-sponsored entities			0 to 1 years						308.7						0.6						—						309.3						346.1						0.2						(0.5)						345.8
									$	877.4					$	1.6					$	(0.1)					$	878.9					$	781.7					$	0.3					$	(1.5)					$	780.5
Corporate debt securities			1 to 3 years						$	488.9					$	6.2					$	(0.1)					$	495.0					$	483.5					$	2.9					$	(0.4)					$	486.0
Securities of government-sponsored entities			1 to 3 years						148.2						0.8						(0.1)						148.9						201.1						0.5						(0.1)						201.5
									$	637.1					$	7.0					$	(0.2)					$	643.9					$	684.6					$	3.4					$	(0.5)					$	687.5

Schedule of Gross Unrealized Losses and Fair Value Available-For-Sale Investments in Unrealized Loss Position

The following table presents available-for-sale debt securities that were in an unrealized loss position as of September 30, 2024, 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			$	125.9					$	(0.1)					$	49.1					$	(0.1)					$	175.0					$	(0.2)
Securities of government-sponsored entities			$	84.8					$	(0.1)					$	—					$	—					$	84.8					$	(0.1)

The following table presents available-for-sale debt securities 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)

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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