v3.26.1
INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments in Debt Securities
Investments in debt securities at the end of each period were as follows (in millions):
June 30, 2026December 31, 2025
Held-to-maturityAmortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Bank time deposits$39.0 $— $— $39.0 $39.1 $— $— $39.1 
Available-for-sale
Commercial paper$460.7 $— $— $460.7 $452.3 $— $— $452.3 
U.S. government and agency securities214.5 — (0.4)214.1 466.5 0.2 (0.4)466.3 
Asset-backed securities39.4 — (0.5)38.9 35.6 — (0.6)35.0 
Corporate debt securities636.9 — (0.6)636.3 347.2 0.1 (0.4)346.9 
Total$1,351.5 $— $(1.5)$1,350.0 $1,301.6 $0.3 $(1.4)$1,300.5 
Schedule of Cost and Fair Value of Investments in Debt Securities, by Contractual Maturity
The cost and fair value of investments in debt securities, by contractual maturity, as of June 30, 2026, were as follows (in millions):
Held-to-MaturityAvailable-for-Sale
Amortized CostFair ValueAmortized CostFair Value
Due in 1 year or less$39.0 $39.0 $1,307.8 $1,307.2 
Instruments not due at a single maturity date (a)
— — 43.7 42.8 
$39.0 $39.0 $1,351.5 $1,350.0 
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(a)     Consists of mortgage-backed and asset-backed securities.
Schedule of Gross Unrealized Losses and Fair Values for Investments in Unrealized Loss Position
The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2026 and December 31, 2025, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):

June 30, 2026
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
U.S. government and agency securities$241.9 $(0.1)$8.0 $(0.3)$249.9 $(0.4)
Asset-backed securities13.2 (0.1)20.8 (0.4)34.0 (0.5)
Corporate debt securities586.6 (0.5)15.3 (0.1)601.9 (0.6)
$841.7 $(0.7)$44.1 $(0.8)$885.8 $(1.5)
December 31, 2025
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
U.S. government and agency securities$— $— $11.2 $(0.4)$11.2 $(0.4)
Asset-backed securities5.1 (0.1)24.3 (0.5)29.4 (0.6)
Corporate debt securities76.7 (0.1)34.3 (0.3)111.0 (0.4)
$81.8 $(0.2)$69.8 $(1.2)$151.6 $(1.4)
Schedule of Investments in Unconsolidated Affiliates These investments are recorded in Long-term Investments on the condensed consolidated balance sheets, and are as follows (in millions):
June 30,
2026		December 31,
2025
Equity method investments
Carrying value of equity method investments$36.9 $34.7 
Equity securities
Carrying value of marketable equity securities28.8 7.1 
Carrying value of non-marketable equity securities135.6 185.5 
Total investments in unconsolidated entities$201.3 $227.3