v3.26.1
Cash and Available-for-Sale Securities
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Cash and Available-for-Sale Securities Cash and Available-for-Sale Securities
Cash, cash equivalents and investments consisted of the following (in millions): 
June 30, 2026
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value		Cash and
Cash
Equivalents		Investments
Cash$703.0 $— $— $703.0 $703.0 $— 
Time deposits580.0 — — 580.0 — 580.0 
Money market funds916.8 — — 916.8 916.8 — 
Totals$2,199.8 $— $— $2,199.8 $1,619.8 $580.0 
December 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value		Cash and
Cash
Equivalents		Investments
Cash$682.7 $— $— $682.7 $682.7 $— 
Time deposits1,130.0 — — 1,130.0 80.0 1,050.0 
Money market funds629.2 — — 629.2 629.2 — 
Totals$2,441.9 $— $— $2,441.9 $1,391.9 $1,050.0 
Cash equivalents and investments are considered available-for-sale securities. We use the specific-identification method for calculating realized gains and losses on securities sold and include them in interest expense, net in the condensed consolidated statements of income (loss). Our investment balances represent time deposits with original maturities of greater than three months and less than one year. Interest income from available-for-sale securities was $25.3 million and $48.7 million in the three and six months ended June 30, 2026, respectively, and $19.1 million and $46.8 million in the three and six months ended June 30, 2025, respectively.