v3.25.2
Investments
6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments INVESTMENTS
Investments Measured at Fair Value on a Recurring Basis
The following table summarizes our investments measured at fair value on a recurring basis by balance sheet classification and investment type:
June 30, 2025December 31, 2024
Amortized
Cost
Fair
Value - Level 1
Amortized
Cost
Fair
Value - Level 1
Cash equivalents—money market funds$197.6 $197.6 $174.2 $174.2 
Cash equivalents—U.S. Treasury securities556.2 556.2 529.5 529.5 
Total cash equivalents$753.8 $753.8 $703.7 $703.7 
Gross unrealized and realized gains and losses related to our cash equivalents were not material for the three and six months ended June 30, 2025 and 2024.
Investments Measured at Fair Value on a Nonrecurring Basis
Our existing equity investments are remeasured at fair value on a nonrecurring basis when an identifiable event or change in circumstance may have a significant adverse impact on its fair value. No such events or changes occurred during the three and six months ended June 30, 2025 and 2024.