v3.26.3
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis
The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis (in millions):
September 30, 2026Level 1Level 2Level 3Total
Assets
Cash equivalents$1,058.9 $1,584.6 $— $2,643.5 
Available-for-sale investments:
Corporate debt securities— 724.4 — 724.4 
Asset-backed securities— 32.8 — 32.8 
U.S. government and agency securities9.8 250.4 — 260.2 
Commercial paper— 518.3 — 518.3 
Equity investments in unconsolidated entities48.0 — — 48.0 
Investments held for deferred compensation plans175.2 — — 175.2 
Derivatives— 50.1 — 50.1 
$1,291.9 $3,160.6 $— $4,452.5 
Liabilities
Derivatives$— $8.5 $— $8.5 
Contingent consideration liabilities— — 9.9 9.9 
$— $8.5 $9.9 $18.4 
December 31, 2025
Assets
Cash equivalents$1,366.7 $1,020.0 $— $2,386.7 
Available-for-sale investments:
Corporate debt securities— 346.9 — 346.9 
Asset-backed securities— 35.0 — 35.0 
U.S. government and agency securities— 466.3 — 466.3 
Commercial paper— 452.3 — 452.3 
Equity investments in unconsolidated entities7.1 — — 7.1 
Investments held for deferred compensation plans167.0 — — 167.0 
Derivatives— 21.4 — 21.4 
$1,540.8 $2,341.9 $— $3,882.7 
Liabilities
Derivatives$— $27.0 $— $27.0 
Contingent consideration liabilities— — 2.0 2.0 
Other— — 6.1 6.1 
$— $27.0 $8.1 $35.1 
Schedule of Changes in Fair Value of Contingent Consideration and Other Liability
The following tables summarize the changes in fair value of Level 3 financial instruments measured at fair value on a recurring basis (in millions):
Contingent ConsiderationOtherTotal
Balance at December 31, 2025
$2.0 $6.1 $8.1 
Additions7.9 — 7.9 
Changes in fair value— (6.1)(6.1)
Balance at September 30, 2026$9.9 $— $9.9 
Contingent ConsiderationOtherTotal
Balance at December 31, 2024
$16.5 $5.0 $21.5 
Payments(2.0)— (2.0)
Changes in fair value(12.5)1.1 (11.4)
Balance at September 30, 2025$2.0 $6.1 $8.1