v3.23.2
Cash, Cash Equivalents, and Short-term Investments (Tables)
 6 Months Ended
Jun. 30, 2023
Cash and Cash Equivalents [Abstract]  
Schedule of Cash and Cash Equivalents
Cash, cash equivalents, and short-term investments consisted of the following as of June 30, 2023:
(in millions)Amortized CostUnrealized GainsUnrealized LossesEstimated Fair Value
Current Assets:
Cash$105.0 $— $— $105.0 
Cash equivalents
Corporate debt securities231.2 — — 231.2 
Money market mutual funds173.5 — — 173.5 
Total cash equivalents404.7 — — 404.7 
Total cash and cash equivalents509.7 — — 509.7 
Short-term investments:
Corporate debt securities100.0 — (0.1)99.9 
Securities guaranteed by U.S. government28.6 — (0.1)28.5 
Other governmental securities22.2 — — 22.2 
Total short-term investments150.8 — (0.2)150.6 
Total cash, cash equivalents, and short-term investments$660.5 $— $(0.2)$660.3 
Cash, cash equivalents, and short-term investments consisted of the following as of December 31, 2022:
(in millions)Amortized CostUnrealized GainsUnrealized LossesEstimated Fair Value
Current Assets:
Cash$235.6 $— $— $235.6 
Cash equivalents
Corporate debt securities159.9 — (0.1)159.8 
Money market mutual funds18.6 — — 18.6 
Securities guaranteed by U.S. government4.0 — — 4.0 
Total cash equivalents182.5 — (0.1)182.4 
Total cash and cash equivalents418.1 — (0.1)418.0 
Short-term investments:
Corporate debt securities91.8 — (0.1)91.7 
Securities guaranteed by U.S. government25.0 — — 25.0 
Other government securities11.0 — — 11.0 
Total short-term investments127.8 — (0.1)127.7 
Total cash, cash equivalents, and short-term investments$545.9 $— $(0.2)$545.7 
Schedule of Short-term Securities
The following table summarizes the cost and estimated fair value of the securities classified as short-term investments based on stated effective maturities as of June 30, 2023 and December 31, 2022:
June 30, 2023
December 31, 2022
(in millions)Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
Due within one year$150.8 $150.6 $127.8 $127.7 
Total$150.8 $150.6 $127.8 $127.7