v3.26.1
Marketable Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale Debt Securities
The following tables summarize the Company's investments in available-for-sale debt securities:
(In millions)AmortizedUnrealizedFair
As of June 30, 2026
Cost BasisGainsLossesValue
Corporate bonds$10,768.4 $19.7 $(36.2)$10,751.9 
U.S. government and government agency obligations3,317.6 1.0 (15.1)3,303.5 
Commercial paper558.6 — (0.3)558.3 
Certificates of deposit304.4 — (0.3)304.1 
Asset-backed securities193.2 0.2 (0.3)193.1 
Sovereign bonds78.5 0.1 (0.3)78.3 
$15,220.7 $21.0 $(52.5)$15,189.2 
As of December 31, 2025
Corporate bonds$10,141.0 $80.9 $(2.4)$10,219.5 
U.S. government and government agency obligations4,352.2 15.2 (0.1)4,367.3 
Commercial paper540.8 0.3 — 541.1 
Certificates of deposit265.7 0.2 — 265.9 
Asset-backed securities241.4 1.4 — 242.8 
Sovereign bonds76.3 0.5 — 76.8 
$15,617.4 $98.5 $(2.5)$15,713.4 
Marketable Securities, Based on Contractual Maturity Dates The fair values of available-for-sale debt securities by contractual maturity consist of the following:
June 30,December 31,
(In millions)
2026
2025
Maturities within one year$5,538.8 $5,487.1 
Maturities after one year through five years9,643.1 10,224.8 
Maturities after five years7.3 1.5 
$15,189.2 $15,713.4