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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2020
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Assets Measured On Recurring Basis | The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1:
| As of June 30, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents |  |  |  |  |  |  |
Money market funds | $ | 241.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 241.5 |
Municipal securities | — |  |  | 1.8 |  |  | — |  |  | 1.8 |
Commercial paper | — |  |  | 1.2 |  |  | — |  |  | 1.2 |
Corporate notes and obligations | — |  |  | 1.1 |  |  | — |  |  | 1.1 |
Total cash equivalents | $ | 241.5 |  |  | $ | 4.1 |  |  | $ | — |  |  | $ | 245.6 |
Short-term investments |  |  |  |  |  |  |
Corporate notes and obligations | — |  |  | 361.4 |  |  | — |  |  | 361.4 |
U.S. Treasury securities | — |  |  | 235.8 |  |  | — |  |  | 235.8 |
Asset backed securities | — |  |  | 83.6 |  |  | — |  |  | 83.6 |
Commercial paper | — |  |  | 40.0 |  |  | — |  |  | 40.0 |
U.S. agency obligations | — |  |  | 27.9 |  |  | — |  |  | 27.9 |
Certificates of deposit | — |  |  | 26.0 |  |  | — |  |  | 26.0 |
Municipal securities | — |  |  | 6.0 |  |  | — |  |  | 6.0 |
Foreign government obligations | — |  |  | 2.8 |  |  | — |  |  | 2.8 |
Total short-term investments | — |  |  | 783.5 |  |  | — |  |  | 783.5 |
Total | $ | 241.5 |  |  | $ | 787.6 |  |  | $ | — |  |  | $ | 1,029.1 |
The Company has an investment in a non-marketable equity security in a privately held company without a readily determinable market value. The investment has a carrying value of $5.6 million and is categorized as Level 3.
| As of December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents |  |  |  |  |  |  |
Money market funds | $ | 444.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 444.3 |
Commercial paper | — |  |  | 2.0 |  |  | — |  |  | 2.0 |
Total Cash Equivalents | $ | 444.3 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | 446.3 |
Short-term investments |  |  |  |  |  |  |
Corporate notes and obligations | — |  |  | 286.6 |  |  | — |  |  | 286.6 |
U.S. Treasury securities | — |  |  | 171.3 |  |  | — |  |  | 171.3 |
Asset-backed securities | — |  |  | 53.8 |  |  | — |  |  | 53.8 |
Certificates of deposit | — |  |  | 38.2 |  |  | — |  |  | 38.2 |
U.S. agency obligations | — |  |  | 27.2 |  |  | — |  |  | 27.2 |
Commercial paper | — |  |  | 24.2 |  |  | — |  |  | 24.2 |
Supranational securities | — |  |  | 4.0 |  |  | — |  |  | 4.0 |
Municipal securities | — |  |  | 2.4 |  |  | — |  |  | 2.4 |
Total short-term investments | — |  |  | 607.7 |  |  | — |  |  | 607.7 |
Equity investments | 9.8 |  |  | — |  |  | — |  |  | 9.8 |
Total | $ | 454.1 |  |  | $ | 609.7 |  |  | $ | — |  |  | $ | 1,063.8 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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