Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Assets and liabilities of the Company are measured at fair value on a recurring basis as of March 31, 2021 and are summarized as follows:

			Fair Value Measurements at Reporting Date Using
Description	March 31, 2021		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	1.3	$	1.3	$	—	$	—
Commercial paper		57.2		—		57.2		—
U.S. treasury obligations		48.4		—		48.4		—
Available-for-sale investments:
Time deposits and certificates of deposit		12.8		—		12.8		—
Bankers' acceptance drafts		4.2		—		4.2		—
Commercial paper		60.9		—		60.9		—
U.S. treasury obligations		131.8		—		131.8		—
Group insurance contracts		6.5		—		6.5		—
Derivatives – foreign exchange forward contracts		2.2		—		2.2		—
Derivatives – interest rate hedge-non-current		5.1		—		5.1
Funds in investments and other assets:
Israeli pension assets		18.2		—		18.2		—
Deferred compensation plan assets:
Mutual funds and exchange traded funds		1.4		—		1.4		—
Total assets	$	350.0	$	1.3	$	348.7	$	—
Liabilities:
Derivatives – foreign exchange forward contracts	$	1.9	$	—	$	1.9	$	—
Derivatives – interest rate hedge - non-current		10.6		—		10.6		—
Total liabilities	$	12.5	$	—	$	12.5	$	—
Reported as follows:
Assets:
Cash and cash equivalents⁽¹⁾	$	106.9	$	1.3	$	105.6	$	—
Short-term investments		209.7		—		209.7		—
Other current assets		2.2		—		2.2		—
Total current assets	$	318.8	$	1.3	$	317.5	$	—
Long-term investments	$	6.5	$	—	$	6.5	$	—
Other assets		24.7		—		24.7		—
Total long-term assets	$	31.2	$	—	$	31.2	$	—
Liabilities:
Other current liabilities	$	1.9	$	—	$	1.9	$	—
Other liabilities	$	10.6	$	—	$	10.6	$	—

⁽¹⁾

The cash and cash equivalent amounts presented in the table above do not include cash of $592.9 as of March 31, 2021.

Assets and liabilities of the Company are measured at fair value on a recurring basis as of December 31, 2020 and are summarized as follows:

			Fair Value Measurements at Reporting Date Using
Description	December 31, 2020		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents:
Money market funds	$	1.3	$	1.3	$	—	$	—
Commercial paper		0.3	$	—		0.3		—
U.S. treasury obligations		62.1		—		62.1		—
Available-for-sale securities:
Time deposits and certificates of deposit		0.7		—		0.7		—
Bankers' acceptance drafts		3.8		—		3.8		—
U.S. treasury obligations		223.2		—		223.2		—
Group insurance contracts		6.5		—		6.5		—
Funds in investments and other assets:
Israeli pension assets		18.8		—		18.8		—
Deferred compensation plan assets:
Mutual funds and exchange traded funds		1.7		—		1.7		—
Total assets	$	318.4	$	1.3	$	317.1	$	—
Liabilities:
Derivatives – foreign exchange forward contracts	$	6.5	$	—	$	6.5	$	—
Derivatives – interest rate hedge - non-current		14.0		—		14.0		—
Total liabilities	$	20.5	$	—	$	20.5	$	—
Reported as follows:
Assets:
Cash and cash equivalents⁽¹⁾	$	63.7	$	1.3	$	62.4	$	—
Short-term investments		227.7		—		227.7		—
Total current assets	$	291.4	$	1.3	$	290.1	$	—
Long-term investments	$	6.5	$	—	$	6.5	$	—
Other assets		20.5		—		20.5		—
Total long-term assets	$	27.0	$	—	$	27.0	$	—
Liabilities:
Other current liabilities	$	6.5	$	—	$	6.5	$	—
Other liabilities	$	14.0	$	—	$	14.0	$	—

⁽¹⁾

The cash and cash equivalent amounts presented in the table above do not include cash of $544.6 as of December 31, 2020.