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Cash, Cash Equivalents, and Short-term Investments | 9 Months Ended
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Sep. 30, 2022
Cash and Cash Equivalents [Abstract] |
Cash, Cash Equivalents, and Short-term Investments | Note 5 - Cash, Cash Equivalents, and Short-term Investments Cash, cash equivalents, and short-term investments consisted of the following as of September 30, 2022:
(in millions) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Current Assets: |  |  |  |  |  |  |
Cash | $ | 112.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 112.8 |
Cash equivalents |  |  |  |  |  |  |
Corporate debt securities | 151.5 |  |  | — |  |  | — |  |  | 151.5 |
Money market mutual funds | 142.0 |  |  | — |  |  | — |  |  | 142.0 |
Total cash equivalents | 293.5 |  |  | — |  |  | — |  |  | 293.5 |
Total cash and cash equivalents | 406.3 |  |  | — |  |  | — |  |  | 406.3 |
Short-term investments: |  |  |  |  |  |  |
Corporate debt securities | 25.7 |  |  | — |  |  | — |  |  | 25.7 |
Securities guaranteed by U.S. government | 5.0 |  |  | — |  |  | — |  |  | 5.0 |
Other governmental securities | 1.7 |  |  | — |  |  | — |  |  | 1.7 |
Total short-term investments | 32.4 |  |  | — |  |  | — |  |  | 32.4 |
Total cash, cash equivalents, and short-term investments | $ | 438.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 438.7 |
Cash, cash equivalents, and short-term investments consisted of the following as of December 31, 2021:
(in millions) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Current Assets: |  |  |  |  |  |  |
Cash | $ | 276.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 276.5 |
Cash equivalents |  |  |  |  |  |  |
Corporate debt securities | 15.7 |  |  | — |  |  | — |  |  | 15.7 |
Money market mutual funds | 16.1 |  |  | — |  |  | — |  |  | 16.1 |
Total cash equivalents | 31.8 |  |  | — |  |  | — |  |  | 31.8 |
Total cash and cash equivalents | 308.3 |  |  | — |  |  | — |  |  | 308.3 |
Short-term investments: |  |  |  |  |  |  |
Corporate debt securities | 18.4 |  |  | — |  |  | — |  |  | 18.4 |
Total short-term investments | 18.4 |  |  | — |  |  | — |  |  | 18.4 |
Total cash, cash equivalents, and short-term investments | $ | 326.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 326.7 |
Refer to Note 10 - Fair Value for further information regarding the fair value of our financial instruments. Gross unrealized losses on our available-for sale securities were immaterial at September 30, 2022 and December 31, 2021. The following table summarizes the cost and estimated fair value of the securities classified as short-term investments based on stated effective maturities as of September 30, 2022 and December 31, 2021:
|  | September 30, 2022 |  | December 31, 2021
(in millions) |  | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Due within one year |  | $ | 32.4 |  |  | $ | 32.4 |  |  | $ | 18.4 |  |  | $ | 18.4 |
Total |  | $ | 32.4 |  |  | $ | 32.4 |  |  | $ | 18.4 |  |  | $ | 18.4 |

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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