Balance Sheet Details and Other Financial Information (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Schedule of Short-Term Marketable Securities |
Short-term marketable securities consists of available-for-sale debt securities and marketable equity securities. | | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | Debt securities, available-for-sale | $ | 1,769.3 | | | $ | 1,973.3 | | Marketable equity securities | 1.0 | | | — | | | Short-term marketable securities | $ | 1,770.3 | | | $ | 1,973.3 | |
Our available-for-sale debt securities were as follows as of the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | (In millions) | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Estimated
Market
Value | | Debt securities, available-for-sale: | | | | | | | | U.S. government agencies (1) | $ | 945.5 | | | $ | 0.3 | | | $ | (0.5) | | | $ | 945.3 | | | Commercial paper | 143.8 | | | — | | | (0.1) | | | 143.7 | | | Corporate debt | 679.9 | | | 0.5 | | | (0.1) | | | 680.3 | | | | | | | | | | | Total debt securities, available-for-sale | $ | 1,769.2 | | | $ | 0.8 | | | $ | (0.7) | | | $ | 1,769.3 | |
(1) Includes debt obligations issued by U.S. government-sponsored enterprises or U.S. government agencies. | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | (In millions) | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Estimated
Market
Value | | Debt securities, available-for-sale: | | | | | | | | U.S. government agencies (1) | $ | 1,149.4 | | | $ | 1.3 | | | $ | (0.6) | | | $ | 1,150.1 | | | Commercial paper | 312.2 | | | — | | | (0.1) | | | 312.1 | | | Corporate debt | 511.1 | | | 0.4 | | | (0.4) | | | 511.1 | | | | | | | | | | | Total debt securities, available-for-sale | $ | 1,972.7 | | | $ | 1.7 | | | $ | (1.1) | | | $ | 1,973.3 | |
(1) Includes debt obligations issued by U.S. government-sponsored enterprises or U.S. government agencies.
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| Schedule of Inventory |
| | | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | | Raw materials | $ | 346.1 | | | $ | 327.1 | | | Work-in-process | 94.0 | | | 28.1 | | | Finished goods | 130.6 | | | 187.4 | | | Total inventory | $ | 570.7 | | | $ | 542.6 | |
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| Schedule of Prepaid and Other Current Assets |
| | | | Prepaid and Other Current Assets |
| | | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | | Prepaid expenses | $ | 87.1 | | | $ | 87.5 | | | | | | | Deferred compensation plan assets | 19.7 | | | 18.6 | | | Income tax receivables | 10.1 | | | 27.9 | | Indirect tax receivables | 18.1 | | | 10.6 | | | Other current assets | 46.4 | | | 29.1 | | | Total prepaid and other current assets | $ | 181.4 | | | $ | 173.7 | |
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| Schedule of Property and Equipment |
| | | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | | Building | $ | 310.1 | | | $ | 291.0 | | | Computer software and hardware | 82.9 | | | 76.6 | | | Furniture and fixtures | 40.6 | | | 40.2 | | | Land and land improvements | 56.6 | | | 53.1 | | | Leasehold improvements | 297.0 | | | 293.8 | | | Machinery and equipment | 990.3 | | | 908.9 | | | Construction in progress | 445.6 | | | 354.6 | | | Total cost | 2,223.1 | | | 2,018.2 | | Less: accumulated depreciation and amortization | (765.8) | | | (678.3) | | | Total property and equipment, net | $ | 1,457.3 | | | $ | 1,339.9 | |
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| Schedule of Other Assets |
| | | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | Non-marketable equity securities | $ | 115.8 | | | $ | 119.3 | | | Long-term deposits | 16.9 | | | 13.8 | | | Other assets | 42.8 | | | 39.9 | | | Total other assets | $ | 175.5 | | | $ | 173.0 | |
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| Schedule of Accounts Payable and Accrued Liabilities |
| | | Accounts Payable and Accrued Liabilities |
| | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | | Accounts payable trade | $ | 472.0 | | | $ | 345.3 | | | Accrued rebates | 1,344.5 | | | 1,135.9 | | | Accrued tax, audit, and legal fees | 25.1 | | | 38.4 | | | Accrued warranty | 18.0 | | | 5.9 | | | | | | | Deferred compensation plan liabilities | 19.7 | | | 18.6 | | Income tax payable | 21.9 | | | 3.9 | | | Other accrued liabilities | 42.6 | | | 37.1 | | | Total accounts payable and accrued liabilities | $ | 1,943.8 | | | $ | 1,585.1 | |
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| Schedule of Accrued Payroll and Related Expenses |
| | | Accrued Payroll and Related Expenses |
| | | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | | Accrued wages, bonus and taxes | $ | 93.1 | | | $ | 74.5 | | | Other accrued employee benefits | 36.2 | | | 37.5 | | | Total accrued payroll and related expenses | $ | 129.3 | | | $ | 112.0 | |
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| Schedule of Other Long-Term Liabilities |
| | | Other Long-Term Liabilities |
| | | | | | | | | | | | | | (In millions) | June 30, 2025 | | December 31, 2024 | | Asset retirement obligation | $ | 17.6 | | | $ | 17.0 | | Finance lease obligations | 56.2 | | | 58.5 | | | Other tax liabilities | 49.6 | | | 44.8 | | | Other liabilities | 28.2 | | | 27.6 | | | Total other long-term liabilities | $ | 151.6 | | | $ | 147.9 | |
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| Schedule of Other Income (Expense), Net |
| | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (In millions) | 2025 | | 2024 | | 2025 | | 2024 | Interest and dividend income | $ | 28.0 | | | $ | 36.2 | | | $ | 56.5 | | | $ | 72.5 | | Interest expense | (4.7) | | | (4.8) | | | (9.4) | | | (9.4) | | | | | | | | | | | Other income (expense), net | 5.2 | | | (1.6) | | | 2.0 | | | (1.9) | | Total other income, net | $ | 28.5 | | | $ | 29.8 | | | $ | 49.1 | | | $ | 61.2 | |
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