FAIR VALUE MEASUREMENT (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in millions):


	June 30, 2026
	Total		Level 1		Level 2		Level 3
Assets:
U.S. and UK Treasury securities (1)	$	1,452.4	$	1,452.4	$	—	$	—
Money market funds (1)	264.8		264.8		—		—
U.S. Treasury securities (2)	74.5		74.5		—		—
Digital assets held (3)	0.4		—		0.4		—
Marketable securities (2):
Mutual funds	33.8		33.8		—		—
Money market funds	6.2		6.2		—		—

Total assets	$	1,832.1	$	1,831.7	$	0.4	$	—


	December 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:
U.S. and UK Treasury securities (1)	$	1,294.1	$	1,294.1	$	—	$	—
Money market funds (1)	248.1		248.1		—		—
U.S. Treasury securities (2)	0.3		0.3		—		—
Marketable securities (2):
Mutual funds	28.5		28.5		—		—
Money market funds	7.3		7.3		—		—

Total assets	$	1,578.3	$	1,578.3	$	—	$	—

___________________________

(1)These amounts are reflected within cash and cash equivalents in the condensed consolidated balance sheets.

(2)These amounts are reflected within financial investments in the condensed consolidated balance sheets.

(3)This amount is reflected within intangible assets, net in the condensed consolidated balance sheets.

Schedule of Fair Value Hierarchy for Assets and Liabilities Held

The following tables present the Company’s fair value hierarchy for certain assets and liabilities held by the Company as of June 30, 2026 and December 31, 2025 (in millions):


	June 30, 2026
	Total		Level 1		Level 2		Level 3
Assets:
U.S. and UK Treasury securities (1)	$	1,452.4	$	1,452.4	$	—	$	—
Money market funds (1)	264.8		264.8		—		—
U.S. Treasury securities (2)	74.5		74.5		—		—
Deferred compensation plan assets (2)	40.0		40.0		—		—
Digital assets held (3)	0.4		—		0.4		—

Total assets	$	1,832.1	$	1,831.7	$	0.4	$	—
Liabilities:

Deferred compensation plan liabilities (4)	$	40.0	$	40.0	$	—	$	—
Debt (5)	1,361.6		—		1,361.6		—
Total liabilities	$	1,401.6	$	40.0	$	1,361.6	$	—


	December 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:
U.S. and UK Treasury securities (1)	$	1,294.1	$	1,294.1	$	—	$	—
Money market funds (1)	248.1		248.1		—		—
U.S. Treasury securities (2)	0.3		0.3		—		—
Deferred compensation plan assets (2)	35.8		35.8		—		—

Total assets	$	1,578.3	$	1,578.3	$	—	$	—
Liabilities:
Deferred compensation plan liabilities (4)	$	35.8	$	35.8	$	—	$	—
Debt (5)	1,371.8		—		1,371.8		—
Total liabilities	$	1,407.6	$	35.8	$	1,371.8	$	—

___________________________

(1)These amounts are reflected within cash and cash equivalents in the condensed consolidated balance sheets.

(2)These amounts are reflected within financial investments in the condensed consolidated balance sheets.

(3)This amount is reflected within intangible assets, net in the condensed consolidated balance sheets.

(4)These amounts are reflected within other non-current liabilities in the condensed consolidated balance sheets.

(5)These balances are presented at fair value in this table, but are carried at their historical value within the condensed consolidated balance sheets.

Schedule of Fair Value of Debt Obligation

At June 30, 2026 and December 31, 2025, the fair values of the Company’s debt obligations were as follows (in millions):



	June 30, 2026		December 31, 2025
3.650% Senior Notes	$	649.6	$	648.9
1.625% Senior Notes	439.0		444.6
3.000% Senior Notes	273.0		278.3