Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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 December 31, 2023
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	514.8	$	—	$	—	$	514.8
U.S. Treasury securities	—		10.0		—		10.0
Commercial paper	—		4.4		—		4.4
Corporate notes and obligations	—		2.9		—		2.9
Certificates of deposit	—		1.3		—		1.3
Municipal securities	—		0.2		—		0.2
Total cash equivalents	$	514.8	$	18.8	$	—	$	533.6
Short-term investments
Corporate notes and obligations	—		349.7		—		349.7
U.S. Treasury securities	—		225.3		—		225.3
Asset backed securities	—		70.0		—		70.0
Municipal securities	—		46.3		—		46.3
Commercial paper	—		30.7		—		30.7
Certificates of deposit	—		8.4		—		8.4
U.S. agency obligations	—		5.7		—		5.7
Foreign government obligations	—		3.3		—		3.3
Supranational securities	—		1.7		—		1.7
Total short-term investments	—		741.1		—		741.1
Total	$	514.8	$	759.9	$	—	$	1,274.7


	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	139.5	$	—	$	—	$	139.5
Commercial paper	—		3.2		—		3.2
Total cash equivalents	$	139.5	$	3.2	$	—	$	142.7
Short-term investments
Corporate notes and obligations	—		489.5		—		489.5
U.S. Treasury securities	—		346.4		—		346.4
Asset backed securities	—		111.6		—		111.6
Municipal securities	—		61.2		—		61.2
Commercial paper	—		46.4		—		46.4
Certificates of deposit	—		29.1		—		29.1
U.S. agency obligations	—		17.6		—		17.6
Foreign government obligations	—		5.6		—		5.6
Supranational securities	—		3.2		—		3.2
Total short-term investments	—		1,110.6		—		1,110.6
Total	$	139.5	$	1,113.8	$	—	$	1,253.3