The following table summarizes, by major security type, our available-for-sale securities and derivative contracts as of March 31, 2026 and December 31, 2025, that were measured at fair value on a recurring basis and were categorized using the fair value hierarchy (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | | | Total
Estimated
Fair Value | | Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | | | Total
Estimated
Fair Value | | Assets: | | | | | | | | | | | | | | | | | Available-for-sale securities: | | | | | | | | | | | | | | | | | Money market funds | $ | 1,116.8 | | | $ | — | | | | | $ | 1,116.8 | | | $ | 629.2 | | | $ | — | | | | | $ | 629.2 | | | Time deposits | — | | | 1,090.0 | | | | | 1,090.0 | | | — | | | 1,130.0 | | | | | 1,130.0 | | | Foreign exchange forward contracts | — | | | — | | | | | — | | | — | | | 6.3 | | | | | 6.3 | | | | | | | | | | | | | | | | | | | Totals | $ | 1,116.8 | | | $ | 1,090.0 | | | | | $ | 2,206.8 | | | $ | 629.2 | | | $ | 1,136.3 | | | | | $ | 1,765.5 | | | Liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign exchange forward contracts | $ | — | | | $ | 8.4 | | | | | $ | 8.4 | | | $ | — | | | $ | 3.7 | | | | | $ | 3.7 | | | Interest rate contracts | — | | | 0.1 | | | | | 0.1 | | | — | | | 0.5 | | | | | 0.5 | | | Totals | $ | — | | | $ | 8.5 | | | | | $ | 8.5 | | | $ | — | | | $ | 4.2 | | | | | $ | 4.2 | |
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