v3.26.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Financial Assets
The following table summarizes financial assets that we measured at fair value on a recurring basis as of September 30, 2026, classified in accordance with the fair value hierarchy:
Fair Value Measurements Using
(In millions)Level 1Level 2Level 3Total
Cash equivalents$402.3 $5.5 $— $407.8 
Debt securities, available-for-sale:
U.S. government agencies (1)
— 336.0 — 336.0 
Commercial paper— 132.6 — 132.6 
Corporate debt— 387.9 — 387.9 
Total debt securities, available-for-sale— 856.5 — 856.5 
Other assets:
Convertible note investments— — 10.7 10.7 
Deferred compensation plan assets (2)
21.8 — — 21.8 
Total assets measured at fair value on a recurring basis$424.1 $862.0 $10.7 $1,296.8 
(1)Includes debt obligations issued by U.S. government-sponsored enterprises or U.S. government agencies.
(2)Includes assets which are held pursuant to a deferred compensation plan for senior management, which consist mainly of mutual funds.
The following table summarizes financial assets that we measured at fair value on a recurring basis as of December 31, 2025, classified in accordance with the fair value hierarchy:
Fair Value Measurements Using
(In millions)Level 1Level 2Level 3Total
Cash equivalents$392.8 $— $— $392.8 
Debt securities, available-for-sale:
U.S. government agencies (1)
— 357.3 — 357.3 
Commercial paper— 123.4 — 123.4 
Corporate debt— 600.3 — 600.3 
Total debt securities, available-for-sale— 1,081.0 — 1,081.0 
Other assets:
Convertible note investments— — 10.5 10.5 
Deferred compensation plan assets (2)
20.0 — — 20.0 
Total assets measured at fair value on a recurring basis$412.8 $1,081.0 $10.5 $1,504.3 
(1)Includes debt obligations issued by U.S. government-sponsored enterprises or U.S. government agencies.
(2)Includes assets which are held pursuant to a deferred compensation plan for senior management, which consist mainly of mutual funds.