v3.26.1
Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Foreign currency forward contracts that were entered into to hedge forecasted revenue
The notional amount of foreign currency forward contracts and foreign currency options that were entered into to hedge forecasted revenue and operating expense is summarized as follows:
Notional Amount
(In millions)As of June 30, 2026As of December 31, 2025
Euro$1,275.3 $1,531.0 
Swiss franc108.8 — 
British pound49.5 — 
Polish zloty19.8 — 
Canadian dollar17.4 — 
Total foreign currency forward contracts and options$1,470.8 $1,531.0 
Derivative Instruments, Unrealized Gain (Loss)
The pre-tax portion of the fair value of these foreign currency forward contracts and foreign currency options that were included in AOCI in total equity is summarized as follows:
(In millions)As of June 30, 2026As of December 31, 2025
Unrealized gains$13.6 $— 
Unrealized (losses)(10.5)(73.3)
Net unrealized gains (losses)$3.1 $(73.3)
Summary of the effect of cash flow derivatives designated as hedging instruments on the condensed consolidated statements of income
The following tables summarize the effect of foreign currency forward contracts and forward currency options designated as hedging instruments in our condensed consolidated statements of income:
For the Three Months Ended June 30,
Net Gains/(Losses)
Reclassified from AOCI into Operating Income (in millions)		Net Gains/(Losses) Excluded from Effectiveness Testing and
Recognized in Operating Income (in millions)
Location20262025Location20262025
Revenue$(9.2)$(22.9)Revenue$(3.0)$(0.8)
Operating expense(0.2)6.6 Operating expense(0.6)(0.8)
For the Six Months Ended June 30,
Net Gains/(Losses)
Reclassified from AOCI into Operating Income (in millions)		Net Gains/(Losses) Excluded from Effectiveness Testing and
Recognized in Operating Income (in millions)
Location20262025Location20262025
Revenue$(33.5)$(12.0)Revenue$1.1 $(0.4)
Operating expense0.5 7.3 Operating expense(1.7)(1.8)
Summary of fair value and presentation of derivatives
The following table summarizes the fair value and presentation in our condensed consolidated balance sheets of our outstanding derivative instruments, including those designated as hedging instruments:
(In millions)Balance Sheet LocationAs of June 30, 2026As of December 31, 2025
Cash Flow Hedging Instruments:
Asset derivative instrumentsOther current assets$17.0 $0.1 
Investments and other assets7.7 0.4 
Liability derivative instrumentsAccrued expense and other(4.6)54.0 
Other long-term liabilities— 2.2 
Other Derivative Instruments:
Asset derivative instrumentsOther current assets4.6 9.9 
Liability derivative instrumentsAccrued expense and other(21.9)2.7