Juniper Networks (JNPR) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 28, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-34501
Entity Registrant Name	JUNIPER NETWORKS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0422528
Entity Address, Address Line One	1133 Innovation Way
Entity Address, City or Town	Sunnyvale,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94089
City Area Code	408
Local Phone Number	745-2000
Title of 12(b) Security	Common Stock, par value $0.00001 per share
Trading Symbol	JNPR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		329,736,374
Entity Central Index Key	0001043604
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total net revenues	$ 1,138.2	$ 1,133.1	$ 3,222.5	$ 3,237.3
Cost of revenues:
Total cost of revenues	480.4	454.7	1,365.8	1,339.8
Gross margin	657.8	678.4	1,856.7	1,897.5
Operating expenses:
Research and development	242.4	244.5	715.9	716.1
Sales and marketing	229.3	235.3	692.7	692.8
General and administrative	59.8	61.2	178.2	189.4
Restructuring charges (benefits)	1.2	(1.1)	14.9	35.6
Total operating expenses	532.7	539.9	1,601.7	1,633.9
Operating income	125.1	138.5	255	263.6
Other expense, net	(13.5)	(20.4)	(29)	(23.2)
Income before income taxes	111.6	118.1	226	240.4
Income tax (benefit) provision	(33.8)	18.8	(1)	63.8
Net income	$ 145.4	$ 99.3	$ 227	$ 176.6
Net income per share:
Basic (in dollars per share)	$ 0.44	$ 0.29	$ 0.69	$ 0.51
Diluted, (in dollars per share)	$ 0.43	$ 0.29	$ 0.68	$ 0.50
Weighted-average shares used to compute net income per share:
Basic (in shares)	330.9	342.2	330.9	345.5
Diluted (in shares)	334.5	345.5	335.2	350.1
Product
Total net revenues	$ 733.7	$ 743.2	$ 2,034.8	$ 2,075.8
Cost of revenues:
Total cost of revenues	327.7	304	918.4	888.3
Service
Total net revenues	404.5	389.9	1,187.7	1,161.5
Cost of revenues:
Total cost of revenues	$ 152.7	$ 150.7	$ 447.4	$ 451.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 145.4	$ 99.3	$ 227	$ 176.6
Available-for-sale debt securities:
Change in net unrealized gains, net of tax benefit of $0.1and $2.0 during the three and nine months ended September 30, 2020, respectively, and tax provision of zero and $(0.8) for the comparable periods in 2019, respectively	0.5	0	6.2	3.8
Net realized gains and losses reclassified into net income, net of tax	(0.8)	(0.1)	(0.5)	(0.1)
Net change on available-for-sale debt securities, net of tax	(0.3)	(0.1)	5.7	3.7
Cash flow hedges:
Change in net unrealized gains and (losses), net of tax provision of $(5.5) and $(3.1) during the three and nine months ended September 30, 2020, respectively, and tax provision of $(0.2) and $(1.3) for the comparable periods in 2019, respectively	29.8	(12.6)	21	(12.3)
Net realized losses reclassified into net income, net of tax benefit of $0.4 and $1.3 during the three and nine months ended September 30, 2020, respectively, and tax provision of $(0.7) and $(1.5) for the comparable periods in 2019, respectively	1	1.5	8.5	3
Net change on cash flow hedges, net of tax	30.8	(11.1)	29.5	(9.3)
Change in foreign currency translation adjustments	7.6	(4.3)	(1.5)	(3)
Other comprehensive loss, net	38.1	(15.5)	33.7	(8.6)
Comprehensive income	$ 183.5	$ 83.8	$ 260.7	$ 168

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on available-for-sale securities, tax benefit (provision)	$ 0.1	$ 0	$ 2	$ (0.8)
Unrealized (loss) gain on cash flow hedges, tax benefit (provision)	(5.5)	(0.2)	(3.1)	(1.3)
Reclassification adjustment for realized net loss (gain) on cash flow hedges included in net income, tax benefit (provision)	$ 0.4	$ (0.7)	$ 1.3	$ (1.5)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,341.5	$ 1,215.8
Short-term investments	499.3	738
Accounts receivable, net of allowances	754	879.7
Prepaid expenses and other current assets	443.7	376.3
Total current assets	3,038.5	3,209.8
Property and equipment, net	768.6	830.9
Operating lease assets	172.7	169.7
Long-term investments	720.4	589.8
Purchased intangible assets, net	151.9	185.8
Goodwill	3,337.1	3,337.1
Other long-term assets	505.5	514.6
Total assets	8,694.7	8,837.7
Current liabilities:
Accounts payable	269.6	219.5
Accrued compensation	197	229
Deferred revenue	750.2	812.9
Other accrued liabilities	284.8	282.5
Total current liabilities	1,501.6	1,543.9
Long-term debt	1,714.1	1,683.9
Long-term deferred revenue	383.8	410.5
Long-term income taxes payable	308.6	372.6
Long-term operating lease liabilities	159.2	158.1
Other long-term liabilities	66.6	58.1
Total liabilities	4,133.9	4,227.1
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, $0.00001 par value; 10.0 shares authorized; none issued and outstanding	0	0
Common stock, $0.00001 par value; 1,000.0 shares authorized; 329.3 shares and 335.9 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	0	0
Additional paid-in capital	7,214.8	7,370.5
Accumulated other comprehensive income (loss)	15.2	(18.5)
Accumulated deficit	(2,669.2)	(2,741.4)
Total stockholders' equity	4,560.8	4,610.6
Total liabilities and stockholders' equity	$ 8,694.7	$ 8,837.7

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock - par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock - shares authorized (shares)	10,000,000	10,000,000
Preferred stock - issued (shares)	0	0
Preferred stock - outstanding (shares)	0	0
Common stock - par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock - shares authorized (shares)	1,000,000,000	1,000,000,000
Common stock - issued (shares)	329,300,000	335,900,000
Common stock - outstanding (shares)	329,300,000	335,900,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 227	$ 176.6
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	138.7	147.1
Depreciation, amortization, and accretion	158	155.5
Operating lease assets expense	31.5	32
Loss on extinguishment of debt	0	15.3
Other	2.6	3.6
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	126.1	125.2
Prepaid expenses and other assets	(43.8)	(33.8)
Accounts payable	50.2	19.1
Accrued compensation	(31.6)	(45.4)
Income taxes payable	(60.1)	(8.7)
Other accrued liabilities	(23.8)	(49.5)
Deferred revenue	(88.6)	(103.8)
Net cash provided by operating activities	486.2	433.2
Cash flows from investing activities:
Purchases of property and equipment	(67.9)	(83.5)
Purchases of available-for-sale debt securities	(831.9)	(2,789.6)
Proceeds from sales of available-for-sale debt securities	198.7	1,035
Proceeds from maturities and redemptions of available-for-sale debt securities	746.6	1,410.1
Purchases of equity securities	(9.4)	(10.2)
Proceeds from sales of equity securities	4.6	5
Proceeds from Pulse note receivable	50	0
Payments for business acquisitions, net of cash and cash equivalents acquired	0	(270.9)
Other	(4.7)	0
Net cash provided by (used in) investing activities	86	(704.1)
Cash flows from financing activities:
Repurchase and retirement of common stock	(305.7)	(354.9)
Proceeds from issuance of common stock	54.5	55.4
Payment of dividends	(198)	(196.4)
Payment of debt	0	(950)
Issuance of debt, net	0	495.2
Payment for debt extinguishment costs	0	(14.6)
Other	4.8	0
Net cash used in financing activities	(444.4)	(965.3)
Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash	(2.5)	(3.6)
Net increase (decrease) in cash, cash equivalents, and restricted cash	125.3	(1,239.8)
Cash, cash equivalents, and restricted cash at beginning of period	1,276.5	2,505.8
Cash, cash equivalents, and restricted cash at end of period	$ 1,401.8	$ 1,266

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Shares	Common Stock and Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentAccumulated Deficit
Balance (in shares) at Dec. 31, 2018		346.4
Balance at Dec. 31, 2018	$ 4,823.2		$ 7,672.8	$ (18.2)	$ (2,831.4)
Balance (Accounting Standards Update 2017-12) at Dec. 31, 2018						$ 0.1	$ 0.1
Balance (Accounting Standards Update 2016-02) at Dec. 31, 2018						$ (4.8)	$ (4.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	176.6				176.6
Other comprehensive income (loss), net	(8.6)			(8.6)
Issuance of common stock (in shares)		8.5
Issuance of common stock	55.4		55.4
Common stock assumed upon business combination	4.7		4.7
Repurchase and retirement of common stock (in shares)		(13.9)
Repurchase and retirement of common stock	(354.9)		(181.7)		(173.2)
Share-based compensation expense	147.1		147.1
Payments of cash dividends	(196.4)		(196.4)
Balance (in shares) at Sep. 30, 2019		341
Balance at Sep. 30, 2019	4,642.4		7,501.9	(26.8)	(2,832.7)
Balance (in shares) at Jun. 30, 2019		344.5
Balance at Jun. 30, 2019	4,591.2		7,491.2	(11.3)	(2,888.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	99.3				99.3
Other comprehensive income (loss), net	(15.5)			(15.5)
Issuance of common stock (in shares)		1.7
Issuance of common stock	25.7		25.7
Repurchase and retirement of common stock (in shares)		(5.2)
Repurchase and retirement of common stock	(111.1)		(67.8)		(43.3)
Purchase of forward contract under accelerated share repurchase program ("ASR")	60		60
Share-based compensation expense	57.5		57.5
Payments of cash dividends	(64.7)		(64.7)
Balance (in shares) at Sep. 30, 2019		341
Balance at Sep. 30, 2019	4,642.4		7,501.9	(26.8)	(2,832.7)
Balance (in shares) at Dec. 31, 2019		335.9
Balance at Dec. 31, 2019	4,610.6		7,370.5	(18.5)	(2,741.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	227				227
Other comprehensive income (loss), net	33.7			33.7
Issuance of common stock (in shares)		8.2
Issuance of common stock	54.5		54.5
Repurchase and retirement of common stock (in shares)		(14.8)
Repurchase and retirement of common stock	(345.7)		(190.9)		(154.8)
Purchase of forward contract under accelerated share repurchase program ("ASR")	40		40
Share-based compensation expense	138.7		138.7
Payments of cash dividends	(198)		(198)
Balance (in shares) at Sep. 30, 2020		329.3
Balance at Sep. 30, 2020	4,560.8		7,214.8	15.2	(2,669.2)
Balance (in shares) at Jun. 30, 2020		331.7
Balance at Jun. 30, 2020	4,464.3		7,255.7	(22.9)	(2,768.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	145.4				145.4
Other comprehensive income (loss), net	38.1			38.1
Issuance of common stock (in shares)		1.8
Issuance of common stock	26.9		26.9
Repurchase and retirement of common stock (in shares)		(4.2)
Repurchase and retirement of common stock	(100.4)		(54.3)		(46.1)
Share-based compensation expense	52.7		52.7
Payments of cash dividends	(66.2)		(66.2)
Balance (in shares) at Sep. 30, 2020		329.3
Balance at Sep. 30, 2020	$ 4,560.8		$ 7,214.8	$ 15.2	$ (2,669.2)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.20	$ 0.19	$ 0.60	$ 0.57

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 1. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The Condensed Consolidated Financial Statements of Juniper Networks, Inc. (the “Company” or “Juniper”) were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. The Condensed Consolidated Balance Sheet as of December 31, 2019 has been derived from the audited Consolidated Financial Statements at that date. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or any future period. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with the audited Consolidated Financial Statements and accompanying notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 (the "Form 10-K"). We have evaluated all subsequent events through the date these condensed consolidated financial statements were issued. The preparation of the financial statements and related disclosures in accordance with U.S. GAAP requires the Company to make judgments, assumptions, and estimates that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates under different assumptions or conditions. Summary of Significant Accounting Policies Except for the change in certain policies upon adoption of the accounting standards and the policy for interest rate lock cash flow hedges described below, there have been no significant changes to the Company's significant accounting policies described in Note 2, Significant Accounting Policies , in Notes to Consolidated Financial Statements in Item 8 of Part II of the Form 10-K. The Company records changes in fair value of interest rate locks in accumulated other comprehensive income (loss) in the consolidated balance sheets, in the period of change. When the forecasted transaction occurs, the Company will start to amortize the accumulated gain or losses included as a component of other comprehensive income (loss) related to the interest rate lock cash flow hedges to interest expense. In the event the underlying forecasted transaction does not occur, or it becomes probable that it will not occur, the gain or loss on the related cash flow hedge from accumulated other comprehensive income (loss) will be reclassified to other income and expense within the income statement. Recently Adopted Accounting Standards Fair Value Measurement: On January 1, 2020, the Company adopted ASU No. 2018-13 (Topic 820) Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates, adds, and modifies certain disclosure requirements for fair value measurements under ASC 820. The Company adopted the standard under the prospective approach for certain modified or new disclosure requirements, and all other amendments in the standard under the retrospective approach. See Note 3, Fair Value Measurements for required disclosures. Simplifying the Test for Goodwill Impairment: On January 1, 2020, the Company adopted ASU No. 2017-04 (Topic 350) Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairmen t, which removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Under the amended guidance, a goodwill impairment charge will be recognized for the amount by which the carrying value of a reporting unit exceeds its fair value, not to exceed the carrying amount of goodwill. The Company adopted the standard under the prospective approach. Upon adoption, the standard did not have a material impact on the Consolidated Financial Statements. Credit Losses on Financial Instruments: On January 1, 2020, the Company adopted ASU 2016-13 (Topic 326) Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments , as further clarified by the Financial Accounting Standards Board (the "FASB") through the issuance of additional related ASUs, which requires the measurement and recognition of current expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss model, which requires the use of forward-looking information to calculate credit loss estimates. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes will result in earlier recognition of credit losses. The Company adopted the standard under the modified retrospective approach. Upon adoption, the standard did not have a material impact on the Consolidated Financial Statements. Recent Accounting Standards Not Yet Adopted Reference Rate Reform: In March 2020, the FASB issued ASU No. 2020-04 (Topic 848), Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional expedients and exceptions to the existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (SOFR). The standard was effective upon issuance and may generally be applied through December 31, 2022, to any new or amended contracts, hedging relationships, and other transactions that reference LIBOR. The Company is currently evaluating the impact of the transition and disclosure requirements of the standard on its Consolidated Financial Statements. Simplifying the Accounting for Income Taxes: In December 2019, the FASB issued ASU No. 2019-12 (Topic 740) Income Taxes — Simplifying the Accounting for Income Taxes , which enhances and simplifies various aspects related to accounting for income taxes. This ASU is to be applied on a prospective basis with the exception of certain amendments that are to be applied on either a retrospective or modified retrospective basis. The new standard is effective for interim and annual periods beginning after December 15, 2020. The Company does not expect the adoption to have a material impact on its Consolidated Financial Statements.

Cash Equivalents and Investment

Cash Equivalents and Investments	9 Months Ended
	Sep. 30, 2020
Cash Equivalents and Investments [Abstract]
Cash Equivalents and Investments	Note 2. Cash Equivalents and Investments Investments in Available-for-Sale Debt Securities The following table summarizes the Company's unrealized gains and losses and fair value of investments designated as available-for-sale debt securities as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, 2020 As of December 31, 2019 Amortized Gross Unrealized Gross Unrealized Estimated Fair Amortized Gross Unrealized Gross Unrealized Estimated Fair Fixed income securities: Asset-backed securities $ 74.0 $ 0.3 $ — $ 74.3 $ 81.3 $ 0.1 $ — $ 81.4 Certificates of deposit 31.8 — — 31.8 38.6 — — 38.6 Commercial paper 87.1 — — 87.1 168.2 — — 168.2 Corporate debt securities 672.8 6.4 (0.2) 679.0 604.9 0.7 (0.1) 605.5 Foreign government debt securities 8.0 — — 8.0 11.4 — — 11.4 Time deposits 223.6 — — 223.6 226.3 — — 226.3 U.S. government agency securities 58.3 0.2 — 58.5 89.0 — — 89.0 U.S. government securities 407.1 1.7 — 408.8 394.3 0.3 (0.1) 394.5 Total fixed income securities 1,562.7 8.6 (0.2) 1,571.1 1,614.0 1.1 (0.2) 1,614.9 Privately-held debt and redeemable preferred stock securities 19.3 37.4 — 56.7 19.1 37.4 — 56.5 Total available-for-sale debt securities $ 1,582.0 $ 46.0 $ (0.2) $ 1,627.8 $ 1,633.1 $ 38.5 $ (0.2) $ 1,671.4 Reported as: Cash equivalents $ 356.2 $ — $ — $ 356.2 $ 290.9 $ — $ — $ 290.9 Short-term investments 492.8 1.7 — 494.5 733.7 0.5 — 734.2 Long-term investments 713.7 6.9 (0.2) 720.4 589.4 0.6 (0.2) 589.8 Other long-term assets 19.3 37.4 — 56.7 19.1 37.4 — 56.5 Total $ 1,582.0 $ 46.0 $ (0.2) $ 1,627.8 $ 1,633.1 $ 38.5 $ (0.2) $ 1,671.4 The following table presents the contractual maturities of the Company's total fixed income securities as of September 30, 2020 (in millions): Amortized Estimated Fair Due in less than one year $ 849.0 $ 850.7 Due between one and five years 713.7 720.4 Total $ 1,562.7 $ 1,571.1 The following tables present the Company's total fixed income securities that were in an unrealized loss position as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, 2020 Less than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: Asset-backed securities $ 10.3 $ — $ — $ — $ 10.3 $ — Corporate debt securities 105.2 (0.2) — — 105.2 (0.2) Foreign government debt securities 8.0 — — — 8.0 — U.S. government securities 13.4 — — — 13.4 — Total fixed income securities $ 136.9 $ (0.2) $ — $ — $ 136.9 $ (0.2) As of December 31, 2019 Less than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: Asset-backed securities $ 21.6 $ — $ 5.2 $ — $ 26.8 $ — Corporate debt securities 142.6 (0.1) 2.1 — 144.7 (0.1) Foreign government debt securities 4.0 — 4.0 — 8.0 — U.S. government agency securities 20.0 — — — 20.0 — U.S. government securities 71.6 (0.1) — — 71.6 (0.1) Total fixed income securities $ 259.8 $ (0.2) $ 11.3 $ — $ 271.1 $ (0.2) For available-for-sale debt securities that have unrealized losses, the Company assesses impairment by evaluating various factors, including whether (i) it has the intention to sell any of these investments and (ii) whether it is more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. The Company periodically assesses performance indicators of the investment by evaluating various factors such as (i) changes in the credit ratings and (ii) review of the issuer. As of September 30, 2020, the Company had 97 investments in unrealized loss positions. The gross unrealized losses related to these investments were primarily due to changes in market interest rates. The Company anticipates that it will recover the entire amortized cost basis of such available-for-sale debt securities and has determined that no allowance for credit losses was required to be recognized during the three and nine months ended September 30, 2020 and September 30, 2019. During the three and nine months ended September 30, 2020 and September 30, 2019, there were no material gross realized gains or losses from available-for-sale debt securities. Investments in Equity Securities The following table presents the Company's investments in equity securities as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, December 31, Equity investments with readily determinable fair value Money market funds $ 580.4 $ 446.4 Mutual funds 27.1 26.8 Publicly-traded equity securities 4.8 3.8 Equity investments without readily determinable fair value 140.0 133.3 Total equity securities $ 752.3 $ 610.3 Reported as: Cash equivalents $ 576.4 $ 442.3 Short-term investments 4.8 3.8 Prepaid expenses and other current assets 7.2 4.1 Other long-term assets 163.9 160.1 Total $ 752.3 $ 610.3 For the three and nine months ended September 30, 2020 and September 30, 2019, there were no material unrealized gains or losses recognized for equity investments. Restricted Cash and Investments The Company has restricted cash and investments for: (i) amounts held in escrow accounts, as required in connection with certain acquisitions completed primarily in 2019; (ii) amounts held under the Company's short-term disability plan in California; and (iii) amounts under the Company's non-qualified deferred compensation plan for senior-level employees. Restricted investments consist of equity investments. As of September 30, 2020, the carrying value of restricted cash and investments was $91.4 million, of which $67.4 million was included in prepaid expenses and other current assets, and $24.0 million was included in other long-term assets on the Condensed Consolidated Balance Sheet. The following table provides a reconciliation of cash, cash equivalents, and restricted cash included in the Condensed Consolidated Balance Sheets as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, December 31, Cash and cash equivalents $ 1,341.5 $ 1,215.8 Restricted cash included in Prepaid expenses and other current assets 60.3 60.7 Total cash, cash equivalents, and restricted cash $ 1,401.8 $ 1,276.5

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table provides a summary of assets and liabilities measured at fair value on a recurring basis and as reported in the Condensed Consolidated Balance Sheets (in millions): Fair Value Measurements at Fair Value Measurements at Quoted Prices in Significant Other Significant Other Total Quoted Prices in Significant Other Significant Other Total Assets: Available-for-sale debt securities: Asset-backed securities $ — $ 74.3 $ — $ 74.3 $ — $ 81.4 $ — $ 81.4 Certificates of deposit — 31.8 — 31.8 — 38.6 — 38.6 Commercial paper — 87.1 — 87.1 — 168.2 — 168.2 Corporate debt securities — 679.0 — 679.0 — 605.5 — 605.5 Foreign government debt securities — 8.0 — 8.0 — 11.4 — 11.4 Time deposits — 223.6 — 223.6 — 226.3 — 226.3 U.S. government agency securities — 58.5 — 58.5 — 89.0 — 89.0 U.S. government securities 214.2 194.6 — 408.8 318.9 75.6 — 394.5 Privately-held debt and redeemable preferred stock securities — — 56.7 56.7 — — 56.5 56.5 Total available-for-sale debt securities 214.2 1,356.9 56.7 1,627.8 318.9 1,296.0 56.5 1,671.4 Equity securities: Money market funds 580.4 — — 580.4 446.4 — — 446.4 Mutual funds 27.1 — — 27.1 26.8 — — 26.8 Publicly-traded equity securities 4.8 — — 4.8 3.8 — — 3.8 Total equity securities 612.3 — — 612.3 477.0 — — 477.0 Derivative assets: Foreign exchange contracts — 20.9 — 20.9 — 2.5 — 2.5 Interest rate contracts — 36.8 — 36.8 — — — — Total derivative assets — 57.7 — 57.7 — 2.5 — 2.5 Total assets measured at fair value on a recurring basis $ 826.5 $ 1,414.6 $ 56.7 $ 2,297.8 $ 795.9 $ 1,298.5 $ 56.5 $ 2,150.9 Liabilities: Derivative liabilities: Foreign exchange contracts $ — $ (2.2) $ — $ (2.2) $ — $ (6.8) $ — $ (6.8) Interest rate contracts — — — — — (3.1) — (3.1) Total derivative liabilities — (2.2) — (2.2) — (9.9) — (9.9) Total liabilities measured at fair value on a recurring basis $ — $ (2.2) $ — $ (2.2) $ — $ (9.9) $ — $ (9.9) Fair Value Measurements at Fair Value Measurements at Quoted Prices in Significant Other Significant Other Total Quoted Prices in Significant Other Significant Other Total Total assets, reported as: Cash equivalents $ 576.4 $ 356.2 $ — $ 932.6 $ 442.3 $ 290.9 $ — $ 733.2 Short-term investments 117.2 382.1 — 499.3 188.8 549.2 — 738.0 Long-term investments 101.8 618.6 — 720.4 133.9 455.9 — 589.8 Prepaid expenses and other current assets 7.2 12.2 — 19.4 4.1 2.5 — 6.6 Other long-term assets 23.9 45.5 56.7 126.1 26.8 — 56.5 83.3 Total assets measured at fair value $ 826.5 $ 1,414.6 $ 56.7 $ 2,297.8 $ 795.9 $ 1,298.5 $ 56.5 $ 2,150.9 Total liabilities, reported as: Other accrued liabilities $ — $ (2.0) $ — $ (2.0) $ — $ (6.8) $ — $ (6.8) Other long-term liabilities — (0.2) — (0.2) — (3.1) — (3.1) Total liabilities measured at fair value on a recurring basis $ — $ (2.2) $ — $ (2.2) $ — $ (9.9) $ — $ (9.9) The Company's Level 2 available-for-sale debt securities are priced using quoted market prices for similar instruments or non-binding market prices that are corroborated by observable market data. The Company uses inputs such as actual trade data, benchmark yields, broker/dealer quotes, or alternative pricing sources with reasonable levels of price transparency, which are obtained from quoted market prices, independent pricing vendors, or other sources, to determine the ultimate fair value of these assets. The Company's derivative instruments are classified as Level 2, as they are not actively traded and are valued using pricing models that use observable market inputs. During the three and nine months ended September 30, 2020, the Company had no transfers into or out of Level 3 of the fair value hierarchy of its assets or liabilities measured at fair value. The Company's privately-held debt and redeemable preferred stock securities are classified as Level 3 assets due to the lack of observable inputs to determine fair value. The Company estimates the fair value of its privately-held debt and redeemable preferred stock securities on a recurring basis using an analysis of the financial condition and near-term prospects of the investee, including recent valuations at the time of financing activities and the investee's capital structure. During the three and nine months ended September 30, 2020, there were no significant activities related to privately-held debt and redeemable preferred stock securities. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Company's investments in equity securities without readily determinable fair value are classified as Level 3 assets due to the lack of observable inputs to determine fair value. The Company estimates the fair value on a nonrecurring basis (i.e. when an observable transaction occurs) using an analysis of the financial condition and near-term prospects of the investee, including recent financing activities and the investee's capital structure. As of September 30, 2020, there have been no material upward or downward adjustments for price changes to the equity securities without readily determinable fair value. Certain of the Company's assets, including intangible assets and goodwill, are measured at fair value on a nonrecurring basis. There were no significant impairment charges recognized during the three and nine months ended September 30, 2020. As of September 30, 2020 and December 31, 2019, the Company had no liabilities required to be measured at fair value on a nonrecurring basis. Assets and Liabilities Not Measured at Fair Value The carrying amounts of the Company's accounts receivable, accounts payable, and other accrued liabilities approximate fair value due to their short maturities. As of September 30, 2020 and December 31, 2019, the estimated fair value of the Company's total outstanding debt in the Condensed Consolidated Balance Sheets was $1,984.0 million and $1,852.1 million, respectively, based on observable market inputs (Level 2). The carrying value of a contract manufacturer deposit of $58.3 million, reported within other long-term assets, in the Condensed Consolidated Balance Sheets approximates its fair value as of September 30, 2020. See Note 5, Other Financial Information, for further information on the contract manufacturer deposit. In July 2020, the Company received payment against the promissory note receivable, with a maturity date of September 30, 2022, in connection with the previously completed sale of Junos Pulse. The borrower exercised its prepayment option and paid the outstanding principal of $50.0 million along with the accumulated interest of $37.7 million, aggregating to $87.7 million, in full.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 4. Derivative Instruments The Company uses derivative instruments to manage a variety of risks, including risks related to fluctuations in foreign currency exchange rates and interest rates on debt instruments. We do not use derivative financial instruments for speculative purposes. The notional amount of the Company's derivatives is summarized as follows (in millions): As of September 30, December 31, Designated derivatives: Cash flow hedges: Foreign currency contracts $ 711.7 $ 484.0 Interest rate lock contracts 650.0 — Fair value hedges: Interest rate swap contracts 300.0 300.0 Total designated derivatives 1,661.7 784.0 Non-designated derivatives 163.3 162.9 Total $ 1,825.0 $ 946.9 The fair value of derivative instruments on the Consolidated Balance Sheets was as follows: As of Balance Sheet Classification September 30, December 31, Derivative assets: Derivatives designated as hedging instruments: Foreign currency contracts Other current assets $ 12.1 $ 2.2 Foreign currency contracts Other long-term assets 8.7 0.3 Interest rate lock contracts Other long-term assets 10.9 — Interest rate swap contracts Other long-term assets 25.9 — Total derivatives designated as hedging instruments $ 57.6 $ 2.5 Derivatives not designated as hedging instruments Other current assets 0.1 — Total derivative assets $ 57.7 $ 2.5 Derivative liabilities: Derivatives designated as hedging instruments: Foreign currency contracts Other accrued liabilities $ 1.8 $ 6.6 Foreign currency contracts Other long-term liabilities 0.2 — Interest rate swap contracts Other long-term liabilities — 3.1 Total derivatives designated as hedging instruments $ 2.0 $ 9.7 Derivatives not designated as hedging instruments Other accrued liabilities 0.2 0.2 Total derivative liabilities $ 2.2 $ 9.9 Designated Derivatives The Company uses foreign currency forward contracts to hedge the Company's planned cost of revenues and operating expenses denominated in foreign currencies. These derivatives are designated as cash flow hedges and typically have maturities of thirty-six months or less. In 2020, the Company entered into interest rate locks with large financial institutions, which fix the benchmark interest rates of future debt issuance for an aggregate notional amount of $650.0 million. These contracts are designated as cash flow hedges and are expected to terminate within 5 years. In 2019, the Company entered into interest rate swaps with an aggregate notional amount of $300.0 million designated as fair value hedges of our fixed-rate 2041 Notes. These swaps convert the fixed interest rates of the notes to floating interest rates based on the LIBOR. Most of the interest rate swaps will expire within nine years or less. Effect of Derivative Instruments on the Consolidated Statements of Operations For cash flow hedges, the Company recognized an unrealized gain of $35.3 million and $24.1 million in accumulated other comprehensive income for the effective portion of its derivative instruments for the three and nine months ended September 30, 2020, respectively. The Company recognized an unrealized loss of $12.4 million and $11.1 million in accumulated other comprehensive income for the effective portion of its derivative instruments for the three and nine months ended September 30, 2019, respectively. For foreign currency forward contracts, the Company reclassified a loss of $1.4 million and $9.8 million out of accumulated other comprehensive income to cost of revenues and operating expenses in the Condensed Consolidated Statements of Operations during the three and nine months ended September 30, 2020, respectively, and a loss of $0.8 million and $1.5 million for the comparable periods ended September 30, 2019, respectively. As of September 30, 2020, an estimated $10.2 million of unrealized net gain within accumulated other comprehensive loss is expected to be reclassified into earnings within the next twelve months. Non-Designated Derivatives The Company also uses foreign currency forward contracts to mitigate variability in gains and losses generated from the remeasurement of certain monetary assets and liabilities denominated in foreign currencies. These foreign exchange forward contracts typically have maturities of approximately one

Other Financial Information

Other Financial Information	9 Months Ended
	Sep. 30, 2020
Other Financial Information [Abstract]
Other Financial Information	Note 5. Other Financial Information Inventory Total inventory consisted of the following (in millions): As of September 30, December 31, Production and service materials $ 144.6 $ 69.0 Finished goods 31.2 25.2 Inventory $ 175.8 $ 94.2 Reported as: Prepaid expenses and other current assets $ 166.4 $ 90.6 Other long-term assets 9.4 3.6 Total $ 175.8 $ 94.2 Deposit The Company has a non-interest bearing deposit balance of $58.3 million, net of an unamortized discount balance of $3.0 million, to a contract manufacturer. The discount is calculated based on an imputed interest rate of 5.0% at September 30, 2020. The imputed interest will be amortized over the term of the deposit to interest income along with a corresponding charge to cost of revenues. The deposit is classified as other long-term assets on the Condensed Consolidated Balance Sheets. Warranties Changes during the nine months ended September 30, 2020 in the Company’s warranty reserve as reported within other accrued liabilities in the Condensed Consolidated Balance Sheets were as follows (in millions): Balance as of December 31, 2019 $ 31.4 Provisions made during the period 28.1 Actual costs incurred during the period (28.9) Balance as of September 30, 2020 $ 30.6 Deferred Revenue Details of the Company's deferred revenue, as reported in the Condensed Consolidated Balance Sheets, were as follows (in millions): As of September 30, December 31, Deferred product revenue: Undelivered product commitments and other product deferrals $ 109.8 $ 141.7 Deferred gross product revenue 109.8 141.7 Deferred cost of product revenue (10.5) (9.1) Deferred product revenue, net 99.3 132.6 Deferred service revenue 1,034.7 1,090.8 Total $ 1,134.0 $ 1,223.4 Reported as: Current $ 750.2 $ 812.9 Long-term 383.8 410.5 Total $ 1,134.0 $ 1,223.4 Revenue See Note 10, Segments, for disaggregated revenue by product and service, customer vertical, and geographic region. Product revenue of $13.3 million and $61.7 million included in deferred revenue at January 1, 2020 was recognized during the three and nine months ended September 30, 2020, respectively. Service revenue of $149.6 million and $622.6 million included in deferred revenue at January 1, 2020 was recognized during the three and nine months ended September 30, 2020, respectively. The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 30, 2020 and when the Company expects to recognize the amounts as revenue (in millions): Revenue Recognition Expected by Period Total Less than 1 year 1-3 years More than 3 years Product $ 109.8 $ 90.4 $ 17.3 $ 2.1 Service (*) 1,049.0 677.5 308.2 63.3 Total $ 1,158.8 $ 767.9 $ 325.5 $ 65.4 ________________________________ (*) Represents unearned service revenue allocated to the performance obligations not delivered or partially delivered as of September 30, 2020. The unearned service revenue is comprised of deferred revenue and non-cancellable contract revenue for which we have not invoiced. Deferred Commissions Deferred commissions were $26.2 million as of September 30, 2020. For the three and nine months ended September 30, 2020, amortization expense for the deferred commissions was $35.1 million and $92.7 million, respectively, and there were no impairment charges recognized. Other Expense, Net Other expense, net, consisted of the following (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest income $ 6.1 $ 19.7 $ 30.4 $ 63.0 Interest expense (19.1) (22.1) (58.5) (68.3) Loss on extinguishment of debt — (15.3) — (15.3) Gain (loss) on investments, net 2.0 (3.4) 2.7 (4.6) Other (2.5) 0.7 (3.6) 2.0 Other expense, net $ (13.5) $ (20.4) $ (29.0) $ (23.2)

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Charges	Note 6. Restructuring Charges During the first quarter of 2020, the Company initiated a restructuring plan (the "2020 Restructuring Plan") designed to realign its workforce with the Company's sales strategy, enhance productivity and cost efficiencies, and enable reinvestment in certain key priority areas. In connection with the 2020 Restructuring Plan, during the three months ended September 30, 2020, the Company recorded $1.2 million in severance costs; during the nine months ended September 30, 2020, the Company recorded $9.6 million in severance and $5.3 million in impairment charges included in other exit related costs, which were reported as restructuring charges in the Condensed Consolidated Statements of Operations. Restructuring liabilities are reported within other accrued liabilities in the Condensed Consolidated Balance Sheets. The following table provides a summary of changes in the restructuring liabilities for the Company's 2020 and prior year restructuring plan (in millions): December 31, Charges Cash September 30, Severance $ 0.7 $ 9.6 $ (7.0) $ — $ 3.3 Other — 5.3 — (5.3) — Total $ 0.7 $ 14.9 $ (7.0) $ (5.3) $ 3.3 The Company expects to substantially pay the remaining restructuring liabilities by the end of the fourth quarter of 2020.

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Note 7. Debt Debt The following table summarizes the Company's total debt (in millions, except percentages): As of September 30, 2020 Issuance date Maturity Date Amount Effective Interest Senior Notes ("Notes"): 4.500% fixed-rate notes ("2024 Notes") March 2014 March 2024 $ 350.0 4.63 % 4.500% fixed-rate notes ("2024 Notes") February 2016 March 2024 150.0 4.87 % 4.350% fixed-rate notes ("2025 Notes") March 2015 June 2025 300.0 4.47 % 3.750% fixed-rate notes ("2029 Notes") August 2019 August 2029 500.0 3.86 % 5.950% fixed-rate notes ("2041 Notes") March 2011 March 2041 400.0 6.03 % Total Notes 1,700.0 Unaccreted discount and debt issuance costs (11.8) Hedge accounting fair value adjustments (*) 25.9 Total $ 1,714.1 ________________________________ (*) Represents the fair value adjustments for interest rate swaps with an aggregate notional amount of $300.0 million designated as fair value hedges of our fixed-rate 2041 Notes. See Note 4, Derivative Instruments , for a discussion of the Company's interest rate swaps. The Notes above are the Company’s senior unsecured and unsubordinated obligations, ranking equally in right of payment to all of the Company’s existing and future senior unsecured and unsubordinated indebtedness, and senior in right of payment to any of the Company’s future indebtedness that is expressly subordinated to the Notes. Interest on the Notes is payable in cash semiannually. The effective interest rates for the Notes include the interest on the Notes, accretion of the discount, and amortization of issuance costs. The indentures that govern the Notes also contain various covenants, including limitations on the Company's ability to incur liens or enter into sale-leaseback transactions over certain dollar thresholds. As of September 30, 2020, the Company was in compliance with all covenants in the indentures governing the Notes. Revolving Credit Facility The Company has an unsecured revolving credit facility that will expire in April 2024, which enables borrowings of up to $500.0 million, with an option to increase the amount of the credit facility by up to an additional $200.0 million, subject to the lenders' approval. The credit facility will terminate in April 2024, subject to a one-year maturity extension option. As of September 30, 2020, the Company was in compliance with all covenants and no amounts were outstanding under our credit facility.

Equity

Equity	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Equity	Note 8. Equity The following table summarizes dividends paid, stock repurchases, and retirements under the Company's stock repurchase program (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Dividends Per share $ 0.20 $ 0.19 $ 0.60 $ 0.57 Amount $ 66.2 $ 64.7 $ 197.9 $ 196.4 Repurchased under the 2018 Stock Repurchase Program Shares 4.2 5.1 14.5 13.7 Average price per share (*) $ 23.93 $ 24.90 $ 23.86 $ 25.45 Amount $ 100.0 $ 50.0 $ 300.0 $ 350.0 ________________________________ (*) During the three months ended September 30, 2020, the $23.93 average price per share includes $100.0 million in open market purchases. During the nine months ended September 30, 2020, the $23.86 average price per share includes $300.0 million in open market purchases, and settlement of the forward contract of $40.0 million under the ASR, which was initiated during the fourth quarter of 2019. During the three and nine months ended September 30, 2019, the $24.90 and $25.45 average price per share includes the forward contract of $60.0 million under the ASR, which was initiated and settled during the second and the third quarter of 2019, respectively. Cash Dividends on Shares of Common Stock During the three and nine months ended September 30, 2020, the Company declared a quarterly cash dividend of $0.20 per share of common stock on January 27, 2020, April 28, 2020 and July 28, 2020, respectively, which was paid on March 23, 2020, June 22, 2020 and September 22, 2020, respectively, to stockholders of record on March 2, 2020, June 1, 2020 and September 1, 2020, respectively. Any future dividends, and the establishment of record and payment dates, are subject to approval by the Board of Directors (the “Board”) of Juniper or an authorized committee thereof. See Note 14, Subsequent Events, for discussion of the Company's dividend declaration subsequent to September 30, 2020. Stock Repurchase Activities In January 2018, the Board approved a $2.0 billion share repurchase program ("2018 Stock Repurchase Program"), which replaced our prior authorization. In October 2019, the Board authorized a $1.0 billion increase to the 2018 Stock Repurchase Program for a total of $3.0 billion. In October 2019, the Company entered into an ASR, to repurchase an aggregate of $200.0 million of the Company’s outstanding common stock. During the three months ended December 31, 2019, the Company made an up-front payment of $200.0 million pursuant to the ASR and received and retired an initial 6.4 million shares of the Company’s common stock for an aggregate price of $160.0 million, based on the market price of $25.15 per share of the Company’s common stock on the date of the transaction. During the three months ended March 31, 2020, the ASR was completed, and an additional 1.8 million shares were received for a total repurchase of 8.2 million shares of the Company's common stock at a volume weighted average repurchase price, less an agreed upon discount, of $24.44 per share. The shares received by the Company were retired, accounted for as a reduction to stockholder’s equity in the Condensed Consolidated Balance Sheets, and treated as a repurchase of common stock for purposes of calculating earnings per share. During the nine months ended September 30, 2020, the Company repurchased 14.5 million shares of its common stock in the open market for an aggregate purchase price of $300.0 million at an average price of $23.86 per share, under the 2018 Stock Repurchase Program. As of September 30, 2020, there was approximately $1.4 billion of authorized funds remaining under the 2018 Stock Repurchase Program. Future share repurchases under the 2018 Stock Repurchase Program will be subject to a review of the circumstances at that time and will be made from time to time in private transactions or open market purchases as permitted by securities laws and other legal requirements. The Company's 2018 Stock Repurchase Program may be discontinued at any time. In addition to repurchases under the 2018 Stock Repurchase Program, the Company also withholds shares of common stock from certain employees in connection with the vesting of stock awards issued to such employees to satisfy applicable tax withholding requirements. Such withheld shares are treated as common stock repurchases in our financial statements as they reduce the number of shares that would have been issued upon vesting. Repurchases associated with tax withholdings were not material during the three and nine months ended September 30, 2020 and September 30, 2019. Accumulated Other Comprehensive Loss, Net of Tax The components of accumulated other comprehensive loss, net of related taxes, for the nine months ended September 30, 2020 were as follows (in millions): Unrealized Unrealized Foreign Total Balance as of December 31, 2019 $ 29.7 $ (4.3) $ (43.9) $ (18.5) Other comprehensive loss before reclassifications 6.2 21.0 (1.5) 25.7 Amount reclassified from accumulated other comprehensive loss (0.5) 8.5 — 8.0 Other comprehensive loss, net 5.7 29.5 (1.5) 33.7 Balance as of September 30, 2020 $ 35.4 $ 25.2 $ (45.4) $ 15.2

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Employee Benefit Plans	Note 9. Employee Benefit Plans Equity Incentive Plans The Company has stock-based compensation plans pursuant to which it has granted stock options, restricted stock units (“RSUs”), and performance share awards (“PSAs”). The Company also maintains its 2008 Employee Stock Purchase Plan (the “ESPP”) for all eligible employees. As of September 30, 2020, 12.4 million and 11.5 million shares were available for future issuance under the Company's 2015 Equity Incentive Plan (the "2015 Plan") and the ESPP, respectively. In connection with past acquisitions, the Company has also assumed or substituted stock options, RSUs, restricted stock awards ("RSAs"), and PSAs. RSU, RSA and PSA Activities The Company’s RSU, RSA and PSA activity and related information as of and for the nine months ended September 30, 2020 were as follows (in millions, except per share amounts and years): Outstanding RSUs, RSAs and PSAs Number of Shares Weighted Average Weighted Average Aggregate Balance as of December 31, 2019 17.5 $ 25.30 Granted (*) 7.4 22.32 Vested (5.9) 25.95 Canceled (2.0) 25.22 Balance as of September 30, 2020 17.0 $ 23.79 1.2 $ 364.9 ________________________________ (*) Includes 6.2 million service-based, 0.8 million performance-based, and 0.4 million market-based RSUs and PSAs, as applicable. The number of shares subject to performance-based and market-based conditions represents the aggregate maximum number of shares that may be issued pursuant to the award over its full term. The grant date fair value of RSUs and PSAs was reduced by the present value of dividends expected to be paid on the underlying shares of common stock during the requisite and derived service period as these awards are not entitled to receive dividends until vested. Employee Stock Purchase Plan The following table summarizes employee stock purchases through the ESPP (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Shares purchased 1.3 1.2 2.7 2.4 Average exercise price per share $ 19.68 $ 22.03 $ 19.59 $ 22.04 The ESPP provides a 24-month offering period with four 6-month purchase periods. A new 24-month offering period commences every six months. The purchase price for the Company’s common stock under the ESPP is 85% of the lower of the fair market value of the shares at (1) the beginning of the applicable offering period or (2) the end of each 6-month purchase period during such offering period. The ESPP will continue in effect until February 25, 2028, unless terminated earlier under the provisions of the ESPP. Share-Based Compensation Expense Share-based compensation expense associated with stock options, RSUs, RSAs, PSAs, and the ESPP was recorded in the following cost and expense categories in the Condensed Consolidated Statements of Operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenues - Product $ 1.4 $ 0.8 $ 3.9 $ 4.3 Cost of revenues - Service 4.0 4.1 11.6 13.0 Research and development 22.9 29.6 57.1 68.0 Sales and marketing 16.4 15.5 43.4 40.0 General and administrative 8.0 7.5 22.7 21.8 Total $ 52.7 $ 57.5 $ 138.7 $ 147.1 The following table summarizes share-based compensation expense by award type (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Stock options $ 1.5 $ 2.3 $ 5.2 $ 5.6 RSUs, RSAs, and PSAs 45.8 50.9 118.0 127.7 ESPP 5.4 4.3 15.5 13.8 Total $ 52.7 $ 57.5 $ 138.7 $ 147.1

Segments

Segments	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segments	Note 10. Segments The Company operates in one reportable segment. The Company's chief executive officer, who is the chief operating decision maker, reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance, accompanied by disaggregated information about net revenues by product and service, customer vertical, and geographic region as presented below. The following table presents net revenues by product and service (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Routing $ 432.0 $ 407.5 $ 1,149.7 $ 1,199.1 Switching 229.0 241.6 657.6 633.6 Security 72.7 94.1 227.5 243.1 Total product 733.7 743.2 2,034.8 2,075.8 Total service 404.5 389.9 1,187.7 1,161.5 Total $ 1,138.2 $ 1,133.1 $ 3,222.5 $ 3,237.3 The following table presents net revenues by customer vertical (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cloud $ 253.1 $ 271.9 $ 800.5 $ 780.0 Service Provider 475.1 452.5 1,286.8 1,335.3 Enterprise 410.0 408.7 1,135.2 1,122.0 Total $ 1,138.2 $ 1,133.1 $ 3,222.5 $ 3,237.3 The Company attributes revenues to geographic region based on the customer’s shipping address. The following table presents net revenues by geographic region (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Americas: United States $ 575.0 $ 599.4 $ 1,651.7 $ 1,677.2 Other 49.3 49.4 160.9 164.0 Total Americas 624.3 648.8 1,812.6 1,841.2 Europe, Middle East, and Africa 321.1 301.5 870.2 879.6 Asia Pacific 192.8 182.8 539.7 516.5 Total $ 1,138.2 $ 1,133.1 $ 3,222.5 $ 3,237.3

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes The following table provides details of income taxes (in millions, except percentages): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Income before income taxes $ 111.6 $ 118.1 $ 226.0 $ 240.4 Income tax (benefit) provision $ (33.8) $ 18.8 $ (1.0) $ 63.8 Effective tax rate (30.3) % 15.9 % (0.4) % 26.5 % The Company’s effective tax rate differs from the federal statutory rate of 21% primarily due to the tax impact of state taxes, geographic mix of earnings including foreign-derived intangible income deductions and global intangible low-taxed income, research and development ("R&D") tax credits, tax audit settlements, nondeductible compensation, cost sharing of stock-based compensation, and other transfer pricing adjustments. In the third quarter of 2020, the Company received final orders from the U.S. and India Competent Authorities, which resolved the Company’s dispute with the India Tax Authorities for the 2010 through 2012 income tax years. The Company also remeasured certain previously unrecognized tax benefits for all open years resulting in a total release of $54.5 million, including $18.4 million of interest and penalties. The Company’s effective tax rate for the nine months ended September 30, 2020 reflects the cumulative recognition of previously unrecognized tax benefits for transfer pricing of $54.5 million referenced above. On June 7, 2019, the Ninth Circuit Court of Appeals issued an opinion in Altera Corp. v. Commissioner requiring related parties in an intercompany cost-sharing arrangement to share expenses related to stock-based compensation. On February 10, 2020, Altera appealed this decision to the U.S. Supreme Court, which on June 22, 2020, declined to review the decision. Based on the Supreme Court decision to not review the Ninth Circuit Court’s decision, stock-based compensation is subject to cost sharing, and the Company recorded a $18.2 million charge. The Company's effective tax rate for the nine months ended September 30, 2019 reflected the recognition of previously unrecognized tax benefits, due to a lapse in statutes of limitation. As of September 30, 2020, the total amount of gross unrecognized tax benefits was $112.2 million.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Net Income Per Share	Note 12. Net Income per Share The Company computed basic and diluted net income per share as follows (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income $ 145.4 $ 99.3 $ 227.0 $ 176.6 Denominator: Weighted-average shares used to compute basic net income per share 330.9 342.2 330.9 345.5 Dilutive effect of employee stock awards 3.6 3.3 4.3 4.6 Weighted-average shares used to compute diluted net income per share 334.5 345.5 335.2 350.1 Net income per share Basic $ 0.44 $ 0.29 $ 0.69 $ 0.51 Diluted $ 0.43 $ 0.29 $ 0.68 $ 0.50 Anti-dilutive shares 3.4 2.8 5.5 2.7

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Commitments Except for the items below, there have been no material changes to the Company's commitments compared to the commitments described in Note 16, Commitments and Contingencies , in Notes to Consolidated Financial Statements in Item 8 of Part II of the Form 10-K. Unconditional Purchase Obligations Unconditional purchase obligations consist of agreements that include firm and non-cancelable terms to transfer funds in the future for fixed or minimum amounts or quantities to be purchased at fixed or minimum prices. During the second quarter of 2020, the Company amended its existing Master Services Agreement and certain Statements of Work (collectively, the "Agreement") with International Business Machines Corporation ("IBM") related to IT outsourcing services, resulting in a $79.4 million reduction in fees payable to IBM over the remaining initial term of the Agreement. Purchase Commitments with Contract Manufacturers and Suppliers In order to reduce manufacturing lead times and in the interest of having access to adequate component supply, the Company enters into agreements with contract manufacturers and certain suppliers to procure inventory based on the Company's requirements. A significant portion of the Company's purchase commitments arising from these agreements consists of firm and non-cancelable commitments. These purchase commitments totaled $1,402.5 million as of September 30, 2020. The Company establishes a liability in connection with purchase commitments related to quantities in excess of its demand forecasts or obsolete materials charges for components purchased by the contract manufacturers based on the Company’s demand forecast or customer orders. As of September 30, 2020, the Company had accrued $18.5 million based on its estimate of such charges. Legal Proceedings In the ordinary course of business, the Company is subject to various pending and potential investigations, disputes, litigations, and legal proceedings. The Company records an accrual for loss contingencies for legal proceedings when it believes that an unfavorable outcome is both (a) probable and (b) the amount or range of any possible loss is reasonably estimable. The Company intends to aggressively defend itself in any legal matters, and while the outcome of any pending matters is not currently determinable, the Company believes that none of its currently existing claims or proceedings are likely to have a material adverse effect on its financial position. Notwithstanding the foregoing, there are many uncertainties associated with any litigation and these matters or any other third-party claims against the Company may cause the Company to incur costly litigation and/or substantial settlement charges. In addition, the resolution of any intellectual property litigation may require the Company to make royalty payments, which could adversely affect gross margins in future periods. If any of these events were to occur, the Company's business, financial condition, results of operations, and cash flows could be adversely affected. The actual liability in any such matters may be materially different from the Company's estimates, if any, which could result in the need to adjust the liability and record additional expenses.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events 128 Technology Acquisition In October 2020, the Company announced and entered into a definitive agreement to acquire 128 Technology for approximately $450.0 million, subject to customary adjustments, cash and the assumption of outstanding equity awards. We expect that the acquisition will enhance Juniper's AI-driven enterprise network portfolio by uniting 128 Technology’s session-smart networking with Juniper's campus and branch solutions driven by Mist AI. The acquisition is expected to close in the fourth quarter of 2020, subject to regulatory approvals and other customary closing conditions. Netrounds Acquisition On October 26, 2020, the Company completed the acquisition of Netrounds, a company that provides a programmable, software-based active test and service assurance platform suitable for fixed and mobile networks, for approximately $35.0 million in cash, subject to adjustments for cash on hand, indebtedness, and certain other closing adjustments. Netrounds will enhance Juniper’s automated WAN solutions by further simplifying operations for service providers and ensuring positive end-user experiences. Dividend Declaration On October 27, 2020, the Company announced that the Board declared a cash dividend of $0.20 per share of common stock to be paid on December 22, 2020 to stockholders of record as of the close of business on December 1, 2020.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements of Juniper Networks, Inc. (the “Company” or “Juniper”) were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. The Condensed Consolidated Balance Sheet as of December 31, 2019 has been derived from the audited Consolidated Financial Statements at that date. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or any future period. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with the audited Consolidated Financial Statements and accompanying notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 (the "Form 10-K"). We have evaluated all subsequent events through the date these condensed consolidated financial statements were issued.
Use of Estimates	The preparation of the financial statements and related disclosures in accordance with U.S. GAAP requires the Company to make judgments, assumptions, and estimates that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying notes. Actual results could differ materially from those estimates under different assumptions or conditions.
Derivatives	The Company records changes in fair value of interest rate locks in accumulated other comprehensive income (loss) in the consolidated balance sheets, in the period of change. When the forecasted transaction occurs, the Company will start to amortize the accumulated gain or losses included as a component of other comprehensive income (loss) related to the interest rate lock cash flow hedges to interest expense. In the event the underlying forecasted transaction does not occur, or it becomes probable that it will not occur, the gain or loss on the related cash flow hedge from accumulated other comprehensive income (loss) will be reclassified to other income and expense within the income statement.
Recently Adopted Accounting Standards and Recent Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards Fair Value Measurement: On January 1, 2020, the Company adopted ASU No. 2018-13 (Topic 820) Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates, adds, and modifies certain disclosure requirements for fair value measurements under ASC 820. The Company adopted the standard under the prospective approach for certain modified or new disclosure requirements, and all other amendments in the standard under the retrospective approach. See Note 3, Fair Value Measurements for required disclosures. Simplifying the Test for Goodwill Impairment: On January 1, 2020, the Company adopted ASU No. 2017-04 (Topic 350) Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairmen t, which removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Under the amended guidance, a goodwill impairment charge will be recognized for the amount by which the carrying value of a reporting unit exceeds its fair value, not to exceed the carrying amount of goodwill. The Company adopted the standard under the prospective approach. Upon adoption, the standard did not have a material impact on the Consolidated Financial Statements. Credit Losses on Financial Instruments: On January 1, 2020, the Company adopted ASU 2016-13 (Topic 326) Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments , as further clarified by the Financial Accounting Standards Board (the "FASB") through the issuance of additional related ASUs, which requires the measurement and recognition of current expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss model, which requires the use of forward-looking information to calculate credit loss estimates. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes will result in earlier recognition of credit losses. The Company adopted the standard under the modified retrospective approach. Upon adoption, the standard did not have a material impact on the Consolidated Financial Statements. Recent Accounting Standards Not Yet Adopted Reference Rate Reform: In March 2020, the FASB issued ASU No. 2020-04 (Topic 848), Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional expedients and exceptions to the existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (SOFR). The standard was effective upon issuance and may generally be applied through December 31, 2022, to any new or amended contracts, hedging relationships, and other transactions that reference LIBOR. The Company is currently evaluating the impact of the transition and disclosure requirements of the standard on its Consolidated Financial Statements. Simplifying the Accounting for Income Taxes: In December 2019, the FASB issued ASU No. 2019-12 (Topic 740) Income Taxes — Simplifying the Accounting for Income Taxes , which enhances and simplifies various aspects related to accounting for income taxes. This ASU is to be applied on a prospective basis with the exception of certain amendments that are to be applied on either a retrospective or modified retrospective basis. The new standard is effective for interim and annual periods beginning after December 15, 2020. The Company does not expect the adoption to have a material impact on its Consolidated Financial Statements.

Cash Equivalents and Investme_2

Cash Equivalents and Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Cash Equivalents and Investments [Abstract]
Unrealized gains and losses and fair value of available-for-sale debt securities	The following table summarizes the Company's unrealized gains and losses and fair value of investments designated as available-for-sale debt securities as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, 2020 As of December 31, 2019 Amortized Gross Unrealized Gross Unrealized Estimated Fair Amortized Gross Unrealized Gross Unrealized Estimated Fair Fixed income securities: Asset-backed securities $ 74.0 $ 0.3 $ — $ 74.3 $ 81.3 $ 0.1 $ — $ 81.4 Certificates of deposit 31.8 — — 31.8 38.6 — — 38.6 Commercial paper 87.1 — — 87.1 168.2 — — 168.2 Corporate debt securities 672.8 6.4 (0.2) 679.0 604.9 0.7 (0.1) 605.5 Foreign government debt securities 8.0 — — 8.0 11.4 — — 11.4 Time deposits 223.6 — — 223.6 226.3 — — 226.3 U.S. government agency securities 58.3 0.2 — 58.5 89.0 — — 89.0 U.S. government securities 407.1 1.7 — 408.8 394.3 0.3 (0.1) 394.5 Total fixed income securities 1,562.7 8.6 (0.2) 1,571.1 1,614.0 1.1 (0.2) 1,614.9 Privately-held debt and redeemable preferred stock securities 19.3 37.4 — 56.7 19.1 37.4 — 56.5 Total available-for-sale debt securities $ 1,582.0 $ 46.0 $ (0.2) $ 1,627.8 $ 1,633.1 $ 38.5 $ (0.2) $ 1,671.4 Reported as: Cash equivalents $ 356.2 $ — $ — $ 356.2 $ 290.9 $ — $ — $ 290.9 Short-term investments 492.8 1.7 — 494.5 733.7 0.5 — 734.2 Long-term investments 713.7 6.9 (0.2) 720.4 589.4 0.6 (0.2) 589.8 Other long-term assets 19.3 37.4 — 56.7 19.1 37.4 — 56.5 Total $ 1,582.0 $ 46.0 $ (0.2) $ 1,627.8 $ 1,633.1 $ 38.5 $ (0.2) $ 1,671.4
Maturities of fixed income securities	The following table presents the contractual maturities of the Company's total fixed income securities as of September 30, 2020 (in millions): Amortized Estimated Fair Due in less than one year $ 849.0 $ 850.7 Due between one and five years 713.7 720.4 Total $ 1,562.7 $ 1,571.1
Available-for-sale securities in unrealized loss position	The following tables present the Company's total fixed income securities that were in an unrealized loss position as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, 2020 Less than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: Asset-backed securities $ 10.3 $ — $ — $ — $ 10.3 $ — Corporate debt securities 105.2 (0.2) — — 105.2 (0.2) Foreign government debt securities 8.0 — — — 8.0 — U.S. government securities 13.4 — — — 13.4 — Total fixed income securities $ 136.9 $ (0.2) $ — $ — $ 136.9 $ (0.2) As of December 31, 2019 Less than 12 Months 12 Months or Greater Total Fair Unrealized Fair Unrealized Fair Unrealized Fixed income securities: Asset-backed securities $ 21.6 $ — $ 5.2 $ — $ 26.8 $ — Corporate debt securities 142.6 (0.1) 2.1 — 144.7 (0.1) Foreign government debt securities 4.0 — 4.0 — 8.0 — U.S. government agency securities 20.0 — — — 20.0 — U.S. government securities 71.6 (0.1) — — 71.6 (0.1) Total fixed income securities $ 259.8 $ (0.2) $ 11.3 $ — $ 271.1 $ (0.2)
Schedule of investments in equity securities	The following table presents the Company's investments in equity securities as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, December 31, Equity investments with readily determinable fair value Money market funds $ 580.4 $ 446.4 Mutual funds 27.1 26.8 Publicly-traded equity securities 4.8 3.8 Equity investments without readily determinable fair value 140.0 133.3 Total equity securities $ 752.3 $ 610.3 Reported as: Cash equivalents $ 576.4 $ 442.3 Short-term investments 4.8 3.8 Prepaid expenses and other current assets 7.2 4.1 Other long-term assets 163.9 160.1 Total $ 752.3 $ 610.3
Schedule of reconciliation of cash, cash equivalents and restricted cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash included in the Condensed Consolidated Balance Sheets as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, December 31, Cash and cash equivalents $ 1,341.5 $ 1,215.8 Restricted cash included in Prepaid expenses and other current assets 60.3 60.7 Total cash, cash equivalents, and restricted cash $ 1,401.8 $ 1,276.5

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	The following table provides a summary of assets and liabilities measured at fair value on a recurring basis and as reported in the Condensed Consolidated Balance Sheets (in millions): Fair Value Measurements at Fair Value Measurements at Quoted Prices in Significant Other Significant Other Total Quoted Prices in Significant Other Significant Other Total Assets: Available-for-sale debt securities: Asset-backed securities $ — $ 74.3 $ — $ 74.3 $ — $ 81.4 $ — $ 81.4 Certificates of deposit — 31.8 — 31.8 — 38.6 — 38.6 Commercial paper — 87.1 — 87.1 — 168.2 — 168.2 Corporate debt securities — 679.0 — 679.0 — 605.5 — 605.5 Foreign government debt securities — 8.0 — 8.0 — 11.4 — 11.4 Time deposits — 223.6 — 223.6 — 226.3 — 226.3 U.S. government agency securities — 58.5 — 58.5 — 89.0 — 89.0 U.S. government securities 214.2 194.6 — 408.8 318.9 75.6 — 394.5 Privately-held debt and redeemable preferred stock securities — — 56.7 56.7 — — 56.5 56.5 Total available-for-sale debt securities 214.2 1,356.9 56.7 1,627.8 318.9 1,296.0 56.5 1,671.4 Equity securities: Money market funds 580.4 — — 580.4 446.4 — — 446.4 Mutual funds 27.1 — — 27.1 26.8 — — 26.8 Publicly-traded equity securities 4.8 — — 4.8 3.8 — — 3.8 Total equity securities 612.3 — — 612.3 477.0 — — 477.0 Derivative assets: Foreign exchange contracts — 20.9 — 20.9 — 2.5 — 2.5 Interest rate contracts — 36.8 — 36.8 — — — — Total derivative assets — 57.7 — 57.7 — 2.5 — 2.5 Total assets measured at fair value on a recurring basis $ 826.5 $ 1,414.6 $ 56.7 $ 2,297.8 $ 795.9 $ 1,298.5 $ 56.5 $ 2,150.9 Liabilities: Derivative liabilities: Foreign exchange contracts $ — $ (2.2) $ — $ (2.2) $ — $ (6.8) $ — $ (6.8) Interest rate contracts — — — — — (3.1) — (3.1) Total derivative liabilities — (2.2) — (2.2) — (9.9) — (9.9) Total liabilities measured at fair value on a recurring basis $ — $ (2.2) $ — $ (2.2) $ — $ (9.9) $ — $ (9.9) Fair Value Measurements at Fair Value Measurements at Quoted Prices in Significant Other Significant Other Total Quoted Prices in Significant Other Significant Other Total Total assets, reported as: Cash equivalents $ 576.4 $ 356.2 $ — $ 932.6 $ 442.3 $ 290.9 $ — $ 733.2 Short-term investments 117.2 382.1 — 499.3 188.8 549.2 — 738.0 Long-term investments 101.8 618.6 — 720.4 133.9 455.9 — 589.8 Prepaid expenses and other current assets 7.2 12.2 — 19.4 4.1 2.5 — 6.6 Other long-term assets 23.9 45.5 56.7 126.1 26.8 — 56.5 83.3 Total assets measured at fair value $ 826.5 $ 1,414.6 $ 56.7 $ 2,297.8 $ 795.9 $ 1,298.5 $ 56.5 $ 2,150.9 Total liabilities, reported as: Other accrued liabilities $ — $ (2.0) $ — $ (2.0) $ — $ (6.8) $ — $ (6.8) Other long-term liabilities — (0.2) — (0.2) — (3.1) — (3.1) Total liabilities measured at fair value on a recurring basis $ — $ (2.2) $ — $ (2.2) $ — $ (9.9) $ — $ (9.9)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments	The notional amount of the Company's derivatives is summarized as follows (in millions): As of September 30, December 31, Designated derivatives: Cash flow hedges: Foreign currency contracts $ 711.7 $ 484.0 Interest rate lock contracts 650.0 — Fair value hedges: Interest rate swap contracts 300.0 300.0 Total designated derivatives 1,661.7 784.0 Non-designated derivatives 163.3 162.9 Total $ 1,825.0 $ 946.9
Schedule of Derivative Assets at Fair Value	The fair value of derivative instruments on the Consolidated Balance Sheets was as follows: As of Balance Sheet Classification September 30, December 31, Derivative assets: Derivatives designated as hedging instruments: Foreign currency contracts Other current assets $ 12.1 $ 2.2 Foreign currency contracts Other long-term assets 8.7 0.3 Interest rate lock contracts Other long-term assets 10.9 — Interest rate swap contracts Other long-term assets 25.9 — Total derivatives designated as hedging instruments $ 57.6 $ 2.5 Derivatives not designated as hedging instruments Other current assets 0.1 — Total derivative assets $ 57.7 $ 2.5 Derivative liabilities: Derivatives designated as hedging instruments: Foreign currency contracts Other accrued liabilities $ 1.8 $ 6.6 Foreign currency contracts Other long-term liabilities 0.2 — Interest rate swap contracts Other long-term liabilities — 3.1 Total derivatives designated as hedging instruments $ 2.0 $ 9.7 Derivatives not designated as hedging instruments Other accrued liabilities 0.2 0.2 Total derivative liabilities $ 2.2 $ 9.9
Schedule of Derivative Liabilities at Fair Value	The fair value of derivative instruments on the Consolidated Balance Sheets was as follows: As of Balance Sheet Classification September 30, December 31, Derivative assets: Derivatives designated as hedging instruments: Foreign currency contracts Other current assets $ 12.1 $ 2.2 Foreign currency contracts Other long-term assets 8.7 0.3 Interest rate lock contracts Other long-term assets 10.9 — Interest rate swap contracts Other long-term assets 25.9 — Total derivatives designated as hedging instruments $ 57.6 $ 2.5 Derivatives not designated as hedging instruments Other current assets 0.1 — Total derivative assets $ 57.7 $ 2.5 Derivative liabilities: Derivatives designated as hedging instruments: Foreign currency contracts Other accrued liabilities $ 1.8 $ 6.6 Foreign currency contracts Other long-term liabilities 0.2 — Interest rate swap contracts Other long-term liabilities — 3.1 Total derivatives designated as hedging instruments $ 2.0 $ 9.7 Derivatives not designated as hedging instruments Other accrued liabilities 0.2 0.2 Total derivative liabilities $ 2.2 $ 9.9

Other Financial Information (Ta

Other Financial Information (Tables)	9 Months Ended
	Sep. 30, 2020
Other Financial Information [Abstract]
Inventories	Total inventory consisted of the following (in millions): As of September 30, December 31, Production and service materials $ 144.6 $ 69.0 Finished goods 31.2 25.2 Inventory $ 175.8 $ 94.2 Reported as: Prepaid expenses and other current assets $ 166.4 $ 90.6 Other long-term assets 9.4 3.6 Total $ 175.8 $ 94.2
Warranties	Changes during the nine months ended September 30, 2020 in the Company’s warranty reserve as reported within other accrued liabilities in the Condensed Consolidated Balance Sheets were as follows (in millions): Balance as of December 31, 2019 $ 31.4 Provisions made during the period 28.1 Actual costs incurred during the period (28.9) Balance as of September 30, 2020 $ 30.6
Deferred revenue	Details of the Company's deferred revenue, as reported in the Condensed Consolidated Balance Sheets, were as follows (in millions): As of September 30, December 31, Deferred product revenue: Undelivered product commitments and other product deferrals $ 109.8 $ 141.7 Deferred gross product revenue 109.8 141.7 Deferred cost of product revenue (10.5) (9.1) Deferred product revenue, net 99.3 132.6 Deferred service revenue 1,034.7 1,090.8 Total $ 1,134.0 $ 1,223.4 Reported as: Current $ 750.2 $ 812.9 Long-term 383.8 410.5 Total $ 1,134.0 $ 1,223.4
Performance obligation	The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of September 30, 2020 and when the Company expects to recognize the amounts as revenue (in millions): Revenue Recognition Expected by Period Total Less than 1 year 1-3 years More than 3 years Product $ 109.8 $ 90.4 $ 17.3 $ 2.1 Service (*) 1,049.0 677.5 308.2 63.3 Total $ 1,158.8 $ 767.9 $ 325.5 $ 65.4 ________________________________ (*) Represents unearned service revenue allocated to the performance obligations not delivered or partially delivered as of September 30, 2020. The unearned service revenue is comprised of deferred revenue and non-cancellable contract revenue for which we have not invoiced.
Other income (expense), net	Other expense, net, consisted of the following (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest income $ 6.1 $ 19.7 $ 30.4 $ 63.0 Interest expense (19.1) (22.1) (58.5) (68.3) Loss on extinguishment of debt — (15.3) — (15.3) Gain (loss) on investments, net 2.0 (3.4) 2.7 (4.6) Other (2.5) 0.7 (3.6) 2.0 Other expense, net $ (13.5) $ (20.4) $ (29.0) $ (23.2)

Restructuring (Benefits) Charge

Restructuring (Benefits) Charges (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of restructuring liabilities	The following table provides a summary of changes in the restructuring liabilities for the Company's 2020 and prior year restructuring plan (in millions): December 31, Charges Cash September 30, Severance $ 0.7 $ 9.6 $ (7.0) $ — $ 3.3 Other — 5.3 — (5.3) — Total $ 0.7 $ 14.9 $ (7.0) $ (5.3) $ 3.3

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of total debt	The following table summarizes the Company's total debt (in millions, except percentages): As of September 30, 2020 Issuance date Maturity Date Amount Effective Interest Senior Notes ("Notes"): 4.500% fixed-rate notes ("2024 Notes") March 2014 March 2024 $ 350.0 4.63 % 4.500% fixed-rate notes ("2024 Notes") February 2016 March 2024 150.0 4.87 % 4.350% fixed-rate notes ("2025 Notes") March 2015 June 2025 300.0 4.47 % 3.750% fixed-rate notes ("2029 Notes") August 2019 August 2029 500.0 3.86 % 5.950% fixed-rate notes ("2041 Notes") March 2011 March 2041 400.0 6.03 % Total Notes 1,700.0 Unaccreted discount and debt issuance costs (11.8) Hedge accounting fair value adjustments (*) 25.9 Total $ 1,714.1 ________________________________ (*) Represents the fair value adjustments for interest rate swaps with an aggregate notional amount of $300.0 million designated as fair value hedges of our fixed-rate 2041 Notes. See Note 4, Derivative Instruments , for a discussion of the Company's interest rate swaps.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Summary of dividends paid and stock repurchases and retirements under stock repurchase program	The following table summarizes dividends paid, stock repurchases, and retirements under the Company's stock repurchase program (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Dividends Per share $ 0.20 $ 0.19 $ 0.60 $ 0.57 Amount $ 66.2 $ 64.7 $ 197.9 $ 196.4 Repurchased under the 2018 Stock Repurchase Program Shares 4.2 5.1 14.5 13.7 Average price per share (*) $ 23.93 $ 24.90 $ 23.86 $ 25.45 Amount $ 100.0 $ 50.0 $ 300.0 $ 350.0 ________________________________ (*) During the three months ended September 30, 2020, the $23.93 average price per share includes $100.0 million in open market purchases. During the nine months ended September 30, 2020, the $23.86 average price per share includes $300.0 million in open market purchases, and settlement of the forward contract of $40.0 million under the ASR, which was initiated during the fourth quarter of 2019. During the three and nine months ended September 30, 2019, the $24.90 and $25.45 average price per share includes the forward contract of $60.0 million under the ASR, which was initiated and settled during the second and the third quarter of 2019, respectively.
Components of accumulated other comprehensive loss, net of taxes	The components of accumulated other comprehensive loss, net of related taxes, for the nine months ended September 30, 2020 were as follows (in millions): Unrealized Unrealized Foreign Total Balance as of December 31, 2019 $ 29.7 $ (4.3) $ (43.9) $ (18.5) Other comprehensive loss before reclassifications 6.2 21.0 (1.5) 25.7 Amount reclassified from accumulated other comprehensive loss (0.5) 8.5 — 8.0 Other comprehensive loss, net 5.7 29.5 (1.5) 33.7 Balance as of September 30, 2020 $ 35.4 $ 25.2 $ (45.4) $ 15.2

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of nonvested share activity	The Company’s RSU, RSA and PSA activity and related information as of and for the nine months ended September 30, 2020 were as follows (in millions, except per share amounts and years): Outstanding RSUs, RSAs and PSAs Number of Shares Weighted Average Weighted Average Aggregate Balance as of December 31, 2019 17.5 $ 25.30 Granted (*) 7.4 22.32 Vested (5.9) 25.95 Canceled (2.0) 25.22 Balance as of September 30, 2020 17.0 $ 23.79 1.2 $ 364.9 ________________________________ (*) Includes 6.2 million service-based, 0.8 million performance-based, and 0.4 million market-based RSUs and PSAs, as applicable. The number of shares subject to performance-based and market-based conditions represents the aggregate maximum number of shares that may be issued pursuant to the award over its full term. The grant date fair value of RSUs and PSAs was reduced by the present value of dividends expected to be paid on the underlying shares of common stock during the requisite and derived service period as these awards are not entitled to receive dividends until vested.
Schedule of employee stock purchases through ESPP	The following table summarizes employee stock purchases through the ESPP (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Shares purchased 1.3 1.2 2.7 2.4 Average exercise price per share $ 19.68 $ 22.03 $ 19.59 $ 22.04
Schedule of employee service share-based compensation, allocation of recognized period costs	Share-based compensation expense associated with stock options, RSUs, RSAs, PSAs, and the ESPP was recorded in the following cost and expense categories in the Condensed Consolidated Statements of Operations (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cost of revenues - Product $ 1.4 $ 0.8 $ 3.9 $ 4.3 Cost of revenues - Service 4.0 4.1 11.6 13.0 Research and development 22.9 29.6 57.1 68.0 Sales and marketing 16.4 15.5 43.4 40.0 General and administrative 8.0 7.5 22.7 21.8 Total $ 52.7 $ 57.5 $ 138.7 $ 147.1
Disclosure of share-based compensation arrangements by share-based payment award	The following table summarizes share-based compensation expense by award type (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Stock options $ 1.5 $ 2.3 $ 5.2 $ 5.6 RSUs, RSAs, and PSAs 45.8 50.9 118.0 127.7 ESPP 5.4 4.3 15.5 13.8 Total $ 52.7 $ 57.5 $ 138.7 $ 147.1

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Financial information for each segment	The following table presents net revenues by product and service (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Routing $ 432.0 $ 407.5 $ 1,149.7 $ 1,199.1 Switching 229.0 241.6 657.6 633.6 Security 72.7 94.1 227.5 243.1 Total product 733.7 743.2 2,034.8 2,075.8 Total service 404.5 389.9 1,187.7 1,161.5 Total $ 1,138.2 $ 1,133.1 $ 3,222.5 $ 3,237.3 The following table presents net revenues by customer vertical (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cloud $ 253.1 $ 271.9 $ 800.5 $ 780.0 Service Provider 475.1 452.5 1,286.8 1,335.3 Enterprise 410.0 408.7 1,135.2 1,122.0 Total $ 1,138.2 $ 1,133.1 $ 3,222.5 $ 3,237.3
Net revenues by geographic region	The Company attributes revenues to geographic region based on the customer’s shipping address. The following table presents net revenues by geographic region (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Americas: United States $ 575.0 $ 599.4 $ 1,651.7 $ 1,677.2 Other 49.3 49.4 160.9 164.0 Total Americas 624.3 648.8 1,812.6 1,841.2 Europe, Middle East, and Africa 321.1 301.5 870.2 879.6 Asia Pacific 192.8 182.8 539.7 516.5 Total $ 1,138.2 $ 1,133.1 $ 3,222.5 $ 3,237.3

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of effective income tax rate reconciliation	The following table provides details of income taxes (in millions, except percentages): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Income before income taxes $ 111.6 $ 118.1 $ 226.0 $ 240.4 Income tax (benefit) provision $ (33.8) $ 18.8 $ (1.0) $ 63.8 Effective tax rate (30.3) % 15.9 % (0.4) % 26.5 %

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted net income per share	The Company computed basic and diluted net income per share as follows (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income $ 145.4 $ 99.3 $ 227.0 $ 176.6 Denominator: Weighted-average shares used to compute basic net income per share 330.9 342.2 330.9 345.5 Dilutive effect of employee stock awards 3.6 3.3 4.3 4.6 Weighted-average shares used to compute diluted net income per share 334.5 345.5 335.2 350.1 Net income per share Basic $ 0.44 $ 0.29 $ 0.69 $ 0.51 Diluted $ 0.43 $ 0.29 $ 0.68 $ 0.50 Anti-dilutive shares 3.4 2.8 5.5 2.7

Cash Equivalents and Investme_3

Cash Equivalents and Investments - Available-For-Sale (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Available-for-sale debt securities:
Amortized Cost	$ 1,582	$ 1,633.1
Gross Unrealized Gains	46	38.5
Gross Unrealized Losses	(0.2)	(0.2)
Estimated Fair Value	1,627.8	1,671.4
Asset-backed securities
Available-for-sale debt securities:
Amortized Cost	74	81.3
Gross Unrealized Gains	0.3	0.1
Gross Unrealized Losses	0	0
Estimated Fair Value	74.3	81.4
Certificates of deposit
Available-for-sale debt securities:
Amortized Cost	31.8	38.6
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	31.8	38.6
Commercial paper
Available-for-sale debt securities:
Amortized Cost	87.1	168.2
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	87.1	168.2
Corporate debt securities
Available-for-sale debt securities:
Amortized Cost	672.8	604.9
Gross Unrealized Gains	6.4	0.7
Gross Unrealized Losses	(0.2)	(0.1)
Estimated Fair Value	679	605.5
Foreign government debt securities
Available-for-sale debt securities:
Amortized Cost	8	11.4
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	8	11.4
Time deposits
Available-for-sale debt securities:
Amortized Cost	223.6	226.3
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	223.6	226.3
U.S. government agency securities
Available-for-sale debt securities:
Amortized Cost	58.3	89
Gross Unrealized Gains	0.2	0
Gross Unrealized Losses	0	0
Estimated Fair Value	58.5	89
U.S. government securities
Available-for-sale debt securities:
Amortized Cost	407.1	394.3
Gross Unrealized Gains	1.7	0.3
Gross Unrealized Losses	0	(0.1)
Estimated Fair Value	408.8	394.5
Fixed Income securities
Available-for-sale debt securities:
Amortized Cost	1,562.7	1,614
Gross Unrealized Gains	8.6	1.1
Gross Unrealized Losses	(0.2)	(0.2)
Estimated Fair Value	1,571.1	1,614.9
Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Amortized Cost	19.3	19.1
Gross Unrealized Gains	37.4	37.4
Gross Unrealized Losses	0	0
Estimated Fair Value	56.7	56.5
Cash equivalents
Available-for-sale debt securities:
Amortized Cost	356.2	290.9
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	356.2	290.9
Short-term investments
Available-for-sale debt securities:
Amortized Cost	492.8	733.7
Gross Unrealized Gains	1.7	0.5
Gross Unrealized Losses	0	0
Estimated Fair Value	494.5	734.2
Long-term investments
Available-for-sale debt securities:
Amortized Cost	713.7	589.4
Gross Unrealized Gains	6.9	0.6
Gross Unrealized Losses	(0.2)	(0.2)
Estimated Fair Value	720.4	589.8
Other long-term assets
Available-for-sale debt securities:
Amortized Cost	19.3	19.1
Gross Unrealized Gains	37.4	37.4
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 56.7	$ 56.5

Cash Equivalents and Investme_4

Cash Equivalents and Investments - Maturities of Fixed Income Securities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Amortized Cost
Amortized Cost	$ 1,582	$ 1,633.1
Estimated Fair Value
Total	1,627.8	1,671.4
Fixed Income Securities
Amortized Cost
Due in less than one year	849
Due between one and five years	713.7
Amortized Cost	1,562.7	1,614
Estimated Fair Value
Due in less than one year	850.7
Due between one and five years	720.4
Total	$ 1,571.1	$ 1,614.9

Cash Equivalents and Investme_5

Cash Equivalents and Investments - Unrealized Loss Position on Fixed Income Securities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Unrealized Loss
Less than 12 months, fair value	$ 136.9	$ 259.8
Less than 12 months, unrealized loss	(0.2)	(0.2)
12 months or greater, fair value	0	11.3
12 months or greater, unrealized loss	0	0
Total, fair value	136.9	271.1
Total, unrealized loss	(0.2)	(0.2)
Asset-backed securities
Unrealized Loss
Less than 12 months, fair value	10.3	21.6
Less than 12 months, unrealized loss	0	0
12 months or greater, fair value	0	5.2
12 months or greater, unrealized loss	0	0
Total, fair value	10.3	26.8
Total, unrealized loss	0	0
Corporate debt securities
Unrealized Loss
Less than 12 months, fair value	105.2	142.6
Less than 12 months, unrealized loss	(0.2)	(0.1)
12 months or greater, fair value	0	2.1
12 months or greater, unrealized loss	0	0
Total, fair value	105.2	144.7
Total, unrealized loss	(0.2)	(0.1)
Foreign government debt securities
Unrealized Loss
Less than 12 months, fair value	8	4
Less than 12 months, unrealized loss	0	0
12 months or greater, fair value	0	4
12 months or greater, unrealized loss	0	0
Total, fair value	8	8
Total, unrealized loss	0	0
U.S. government agency securities
Unrealized Loss
Less than 12 months, fair value		20
Less than 12 months, unrealized loss		0
12 months or greater, fair value		0
12 months or greater, unrealized loss		0
Total, fair value		20
Total, unrealized loss		0
U.S. government securities
Unrealized Loss
Less than 12 months, fair value	13.4	71.6
Less than 12 months, unrealized loss	0	(0.1)
12 months or greater, fair value	0	0
12 months or greater, unrealized loss	0	0
Total, fair value	13.4	71.6
Total, unrealized loss	$ 0	$ (0.1)

Cash Equivalents and Investme_6

Cash Equivalents and Investments - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)Investment	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Investment	Sep. 30, 2019USD ($)
Restricted Cash and Cash Equivalents Items [Line Items]
Total investments in unrealized loss position | Investment	97		97
Available-for-sale debt securities, gross realized gain	$ 0	$ 0	$ 0	$ 0
Available-for-sale debt securities, gross realized loss	0	0	0	0
Equity investments, unrealized gains	0	0	0	0
Equity investments, unrealized losses	0	0	0	0
Restricted cash and investments	91,400,000		91,400,000
Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and investments	67,400,000		67,400,000
Other long-term assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and investments	24,000,000		24,000,000
Debt Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Allowance for credit losses	$ 0	$ 0	$ 0	$ 0

Cash Equivalents and Investme_7

Cash Equivalents and Investments - Investments in Equity Securities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments without readily determinable fair value	$ 140	$ 133.3
Total equity securities	752.3	610.3
Cash equivalents
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	576.4	442.3
Short-term investments
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	4.8	3.8
Prepaid expenses and other current assets
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	7.2	4.1
Other long-term assets
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	163.9	160.1
Money market funds
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments with readily determinable fair value	580.4	446.4
Mutual funds
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments with readily determinable fair value	27.1	26.8
Publicly-traded equity securities
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments with readily determinable fair value	$ 4.8	$ 3.8

Cash Equivalents and Investme_8

Cash Equivalents and Investments - Restricted Cash and Investments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 1,341.5	$ 1,215.8
Total cash, cash equivalents, and restricted cash	1,401.8	1,276.5	$ 1,266	$ 2,505.8
Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in Prepaid expenses and other current assets	$ 60.3	$ 60.7

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Available-for-sale debt securities:
Available-for-sale debt securities	$ 1,627.8	$ 1,671.4
Derivative assets:
Derivative assets:	57.7	2.5
Asset-backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	74.3	81.4
Certificates of deposit
Available-for-sale debt securities:
Available-for-sale debt securities	31.8	38.6
Commercial paper
Available-for-sale debt securities:
Available-for-sale debt securities	87.1	168.2
Corporate debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	679	605.5
Foreign government debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	8	11.4
Time deposits
Available-for-sale debt securities:
Available-for-sale debt securities	223.6	226.3
U.S. government agency securities
Available-for-sale debt securities:
Available-for-sale debt securities	58.5	89
U.S. government securities
Available-for-sale debt securities:
Available-for-sale debt securities	408.8	394.5
Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Available-for-sale debt securities	56.7	56.5
Money market funds
Equity securities:
Equity securities	580.4	446.4
Publicly-traded equity securities
Equity securities:
Equity securities	4.8	3.8
Fair Value, Measurements, Recurring
Available-for-sale debt securities:
Available-for-sale debt securities	1,627.8	1,671.4
Equity securities:
Equity securities	612.3	477
Derivative assets:
Derivative assets:	57.7	2.5
Total assets measured at fair value on a recurring basis	2,297.8	2,150.9
Liabilities measured at fair value:
Derivative liabilities:	(2.2)	(9.9)
Total liabilities measured at fair value on a recurring basis	(2.2)	(9.9)
Fair Value, Measurements, Recurring | Foreign exchange contracts
Derivative assets:
Derivative assets:	20.9	2.5
Liabilities measured at fair value:
Derivative liabilities:	(2.2)	(6.8)
Fair Value, Measurements, Recurring | Interest rate contracts
Derivative assets:
Derivative assets:	36.8	0
Liabilities measured at fair value:
Derivative liabilities:	0	(3.1)
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	214.2	318.9
Equity securities:
Equity securities	612.3	477
Derivative assets:
Derivative assets:	0	0
Total assets measured at fair value on a recurring basis	826.5	795.9
Liabilities measured at fair value:
Derivative liabilities:	0	0
Total liabilities measured at fair value on a recurring basis	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1) | Foreign exchange contracts
Derivative assets:
Derivative assets:	0	0
Liabilities measured at fair value:
Derivative liabilities:	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1) | Interest rate contracts
Derivative assets:
Derivative assets:	0	0
Liabilities measured at fair value:
Derivative liabilities:	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	1,356.9	1,296
Equity securities:
Equity securities	0	0
Derivative assets:
Derivative assets:	57.7	2.5
Total assets measured at fair value on a recurring basis	1,414.6	1,298.5
Liabilities measured at fair value:
Derivative liabilities:	(2.2)	(9.9)
Total liabilities measured at fair value on a recurring basis	(2.2)	(9.9)
Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2) | Foreign exchange contracts
Derivative assets:
Derivative assets:	20.9	2.5
Liabilities measured at fair value:
Derivative liabilities:	(2.2)	(6.8)
Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2) | Interest rate contracts
Derivative assets:
Derivative assets:	36.8	0
Liabilities measured at fair value:
Derivative liabilities:	0	(3.1)
Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	56.7	56.5
Equity securities:
Equity securities	0	0
Derivative assets:
Derivative assets:	0	0
Total assets measured at fair value on a recurring basis	56.7	56.5
Liabilities measured at fair value:
Derivative liabilities:	0	0
Total liabilities measured at fair value on a recurring basis	0	0
Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3) | Foreign exchange contracts
Derivative assets:
Derivative assets:	0	0
Liabilities measured at fair value:
Derivative liabilities:	0	0
Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3) | Interest rate contracts
Derivative assets:
Derivative assets:	0	0
Liabilities measured at fair value:
Derivative liabilities:	0	0
Fair Value, Measurements, Recurring | Asset-backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	74.3	81.4
Fair Value, Measurements, Recurring | Asset-backed securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Asset-backed securities | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	74.3	81.4
Fair Value, Measurements, Recurring | Asset-backed securities | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Certificates of deposit
Available-for-sale debt securities:
Available-for-sale debt securities	31.8	38.6
Fair Value, Measurements, Recurring | Certificates of deposit | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Certificates of deposit | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	31.8	38.6
Fair Value, Measurements, Recurring | Certificates of deposit | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Commercial paper
Available-for-sale debt securities:
Available-for-sale debt securities	87.1	168.2
Fair Value, Measurements, Recurring | Commercial paper | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Commercial paper | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	87.1	168.2
Fair Value, Measurements, Recurring | Commercial paper | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Corporate debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	679	605.5
Fair Value, Measurements, Recurring | Corporate debt securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Corporate debt securities | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	679	605.5
Fair Value, Measurements, Recurring | Corporate debt securities | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Foreign government debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	8	11.4
Fair Value, Measurements, Recurring | Foreign government debt securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Foreign government debt securities | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	8	11.4
Fair Value, Measurements, Recurring | Foreign government debt securities | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Time deposits
Available-for-sale debt securities:
Available-for-sale debt securities	223.6	226.3
Fair Value, Measurements, Recurring | Time deposits | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Time deposits | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	223.6	226.3
Fair Value, Measurements, Recurring | Time deposits | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | U.S. government agency securities
Available-for-sale debt securities:
Available-for-sale debt securities	58.5	89
Fair Value, Measurements, Recurring | U.S. government agency securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | U.S. government agency securities | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	58.5	89
Fair Value, Measurements, Recurring | U.S. government agency securities | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | U.S. government securities
Available-for-sale debt securities:
Available-for-sale debt securities	408.8	394.5
Fair Value, Measurements, Recurring | U.S. government securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	214.2	318.9
Fair Value, Measurements, Recurring | U.S. government securities | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	194.6	75.6
Fair Value, Measurements, Recurring | U.S. government securities | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Available-for-sale debt securities	56.7	56.5
Fair Value, Measurements, Recurring | Privately-held debt and redeemable preferred stock securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Privately-held debt and redeemable preferred stock securities | Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	0	0
Fair Value, Measurements, Recurring | Privately-held debt and redeemable preferred stock securities | Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	56.7	56.5
Fair Value, Measurements, Recurring | Money market funds
Equity securities:
Equity securities	580.4	446.4
Fair Value, Measurements, Recurring | Money market funds | Quoted Prices in Active Markets For Identical Assets (Level 1)
Equity securities:
Equity securities	580.4	446.4
Fair Value, Measurements, Recurring | Money market funds | Significant Other Observable Remaining Inputs (Level 2)
Equity securities:
Equity securities	0	0
Fair Value, Measurements, Recurring | Money market funds | Significant Other Unobservable Remaining Inputs (Level 3)
Equity securities:
Equity securities	0	0
Fair Value, Measurements, Recurring | Mutual funds
Equity securities:
Equity securities	27.1	26.8
Fair Value, Measurements, Recurring | Mutual funds | Quoted Prices in Active Markets For Identical Assets (Level 1)
Equity securities:
Equity securities	27.1	26.8
Fair Value, Measurements, Recurring | Mutual funds | Significant Other Observable Remaining Inputs (Level 2)
Equity securities:
Equity securities	0	0
Fair Value, Measurements, Recurring | Mutual funds | Significant Other Unobservable Remaining Inputs (Level 3)
Equity securities:
Equity securities	0	0
Fair Value, Measurements, Recurring | Publicly-traded equity securities
Equity securities:
Equity securities	4.8	3.8
Fair Value, Measurements, Recurring | Publicly-traded equity securities | Quoted Prices in Active Markets For Identical Assets (Level 1)
Equity securities:
Equity securities	4.8	3.8
Fair Value, Measurements, Recurring | Publicly-traded equity securities | Significant Other Observable Remaining Inputs (Level 2)
Equity securities:
Equity securities	0	0
Fair Value, Measurements, Recurring | Publicly-traded equity securities | Significant Other Unobservable Remaining Inputs (Level 3)
Equity securities:
Equity securities	0	0
Cash equivalents
Available-for-sale debt securities:
Available-for-sale debt securities	356.2	290.9
Cash equivalents | Fair Value, Measurements, Recurring
Derivative assets:
Total assets measured at fair value on a recurring basis	932.6	733.2
Cash equivalents | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Derivative assets:
Total assets measured at fair value on a recurring basis	576.4	442.3
Cash equivalents | Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Derivative assets:
Total assets measured at fair value on a recurring basis	356.2	290.9
Cash equivalents | Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Derivative assets:
Total assets measured at fair value on a recurring basis	0	0
Short-term investments
Available-for-sale debt securities:
Available-for-sale debt securities	494.5	734.2
Short-term investments | Fair Value, Measurements, Recurring
Derivative assets:
Total assets measured at fair value on a recurring basis	499.3	738
Short-term investments | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Derivative assets:
Total assets measured at fair value on a recurring basis	117.2	188.8
Short-term investments | Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Derivative assets:
Total assets measured at fair value on a recurring basis	382.1	549.2
Short-term investments | Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Derivative assets:
Total assets measured at fair value on a recurring basis	0	0
Long-term investments
Available-for-sale debt securities:
Available-for-sale debt securities	720.4	589.8
Long-term investments | Fair Value, Measurements, Recurring
Derivative assets:
Total assets measured at fair value on a recurring basis	720.4	589.8
Long-term investments | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Derivative assets:
Total assets measured at fair value on a recurring basis	101.8	133.9
Long-term investments | Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Derivative assets:
Total assets measured at fair value on a recurring basis	618.6	455.9
Long-term investments | Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Derivative assets:
Total assets measured at fair value on a recurring basis	0	0
Prepaid expenses and other current assets | Fair Value, Measurements, Recurring
Derivative assets:
Total assets measured at fair value on a recurring basis	19.4	6.6
Prepaid expenses and other current assets | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Derivative assets:
Total assets measured at fair value on a recurring basis	7.2	4.1
Prepaid expenses and other current assets | Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Derivative assets:
Total assets measured at fair value on a recurring basis	12.2	2.5
Prepaid expenses and other current assets | Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Derivative assets:
Total assets measured at fair value on a recurring basis	0	0
Other long-term assets | Fair Value, Measurements, Recurring
Derivative assets:
Total assets measured at fair value on a recurring basis	126.1	83.3
Other long-term assets | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Derivative assets:
Total assets measured at fair value on a recurring basis	23.9	26.8
Other long-term assets | Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Derivative assets:
Total assets measured at fair value on a recurring basis	45.5	0
Other long-term assets | Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Derivative assets:
Total assets measured at fair value on a recurring basis	56.7	56.5
Other accrued liabilities | Fair Value, Measurements, Recurring
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	(2)	(6.8)
Other accrued liabilities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	0	0
Other accrued liabilities | Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	(2)	(6.8)
Other accrued liabilities | Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	0	0
Other long-term liabilities | Fair Value, Measurements, Recurring
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	(0.2)	(3.1)
Other long-term liabilities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets For Identical Assets (Level 1)
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	0	0
Other long-term liabilities | Fair Value, Measurements, Recurring | Significant Other Observable Remaining Inputs (Level 2)
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	(0.2)	(3.1)
Other long-term liabilities | Fair Value, Measurements, Recurring | Significant Other Unobservable Remaining Inputs (Level 3)
Liabilities measured at fair value:
Total liabilities measured at fair value on a recurring basis	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities without readily determinable fair value, upward adjustment				$ 0
Equity securities without readily determinable fair value, downward adjustment				0
Goodwill and intangible impairment		$ 0		0
Contract manufacturer deposit (non-interest bearing)		58,300,000		58,300,000
Junos Pulse
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from collection of notes receivable, principal	$ 50,000,000
Proceeds from collection of notes receivable, accrued interest	37,700,000
Proceeds from collection of notes receivable	$ 87,700,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and nonfinancial liabilities, fair value disclosure		2,200,000		2,200,000		$ 9,900,000
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and nonfinancial liabilities, fair value disclosure		0		0		0
Significant Other Unobservable Remaining Inputs (Level 3) | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and nonfinancial liabilities, fair value disclosure		0		0		0
Significant Other Observable Remaining Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total outstanding debt, fair value		1,984,000,000		1,984,000,000		1,852,100,000
Significant Other Observable Remaining Inputs (Level 2) | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and nonfinancial liabilities, fair value disclosure		2,200,000		2,200,000		$ 9,900,000
Privately-held debt and redeemable preferred stock securities | Significant Other Unobservable Remaining Inputs (Level 3) | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on investments		$ 0	$ 0	$ 0	$ 0

Derivative Instruments - Notion

Derivative Instruments - Notional Amount (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional amount of derivatives	$ 1,825,000,000	$ 946,900,000
Designated derivatives:
Derivative [Line Items]
Notional amount of derivatives	1,661,700,000	784,000,000
Non-designated derivatives
Derivative [Line Items]
Notional amount of derivatives	163,300,000	162,900,000
Foreign currency contracts | Cash flow hedges: | Designated derivatives:
Derivative [Line Items]
Notional amount of derivatives	711,700,000	484,000,000
Interest rate lock contracts | Cash flow hedges: | Designated derivatives:
Derivative [Line Items]
Notional amount of derivatives	650,000,000	0
Interest rate swap contracts | Fair value hedges: | Designated derivatives:
Derivative [Line Items]
Notional amount of derivatives	$ 300,000,000	$ 300,000,000

Derivative Instruments Fair Val

Derivative Instruments Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative assets:	$ 57.7	$ 2.5
Derivative liabilities:	2.2	9.9
Designated derivatives:
Derivative [Line Items]
Derivative assets:	57.6	2.5
Derivative liabilities:	2	9.7
Other current assets | Designated derivatives: | Foreign exchange contracts
Derivative [Line Items]
Derivative assets:	12.1	2.2
Other current assets | Non-designated derivatives
Derivative [Line Items]
Derivative assets:	0.1	0
Other accrued liabilities | Designated derivatives: | Foreign exchange contracts
Derivative [Line Items]
Derivative liabilities:	1.8	6.6
Other accrued liabilities | Non-designated derivatives
Derivative [Line Items]
Derivative liabilities:	0.2	0.2
Other long-term liabilities | Designated derivatives: | Foreign exchange contracts
Derivative [Line Items]
Derivative liabilities:	0.2	0
Other long-term liabilities | Designated derivatives: | Interest rate swap contracts
Derivative [Line Items]
Derivative liabilities:	0	3.1
Other long-term assets | Designated derivatives: | Foreign exchange contracts
Derivative [Line Items]
Derivative assets:	8.7	0.3
Other long-term assets | Designated derivatives: | Interest rate lock contracts
Derivative [Line Items]
Derivative assets:	10.9	0
Other long-term assets | Designated derivatives: | Interest rate swap contracts
Derivative [Line Items]
Derivative assets:	$ 25.9	$ 0

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	$ 1,825,000,000		$ 1,825,000,000		$ 946,900,000
Designated derivatives:
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	1,661,700,000		1,661,700,000		784,000,000
Cash flow hedges:
Derivatives, Notional Amount [Line Items]
Derivative instruments, gain (loss) recognized in other comprehensive income (loss), effective portion	35,300,000	$ (12,400,000)	$ 24,100,000	$ (11,100,000)
Cash flow hedges: | Designated derivatives:
Derivatives, Notional Amount [Line Items]
Maximum maturities of cash flow hedge derivatives			36 months
Losses expected to be reclassified into earnings within the next 12 months			$ 10,200,000
Interest rate lock contracts | Cash flow hedges: | Designated derivatives:
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	650,000,000		$ 650,000,000		0
Swaps designated as cash flow hedges, expected termination period			5 years
Interest rate swap contracts | Fair value hedges: | Designated derivatives:
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	300,000,000		$ 300,000,000		300,000,000
Foreign exchange contracts
Derivatives, Notional Amount [Line Items]
Foreign currency forward contracts, amounts reclassified out of AOCI	(1,400,000)	$ (800,000)	(9,800,000)	$ (1,500,000)
Foreign exchange contracts | Cash flow hedges: | Designated derivatives:
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	$ 711,700,000		$ 711,700,000		$ 484,000,000
Minimum | Foreign exchange contracts
Derivatives, Notional Amount [Line Items]
Maturity of foreign currency derivatives			1 month
Maximum | Foreign exchange contracts
Derivatives, Notional Amount [Line Items]
Maturity of foreign currency derivatives			4 months
Maximum | Interest rate swap contracts
Derivatives, Notional Amount [Line Items]
Derivative expiration period			9 years

Other Financial Information - I

Other Financial Information - Inventories, Net (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Inventory [Line Items]
Production and service materials	$ 144.6	$ 69
Finished goods	31.2	25.2
Inventory	175.8	94.2
Prepaid expenses and other current assets
Schedule Of Inventory [Line Items]
Inventory	166.4	90.6
Other long-term assets
Schedule Of Inventory [Line Items]
Inventory	$ 9.4	$ 3.6

Other Financial Information - N

Other Financial Information - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)
Other Financial Information [Abstract]
Contract manufacturer deposit (non-interest bearing)	$ 58,300,000	$ 58,300,000
Non-interest bearing deposit to contract manufacturer, unamortized discount	3,000,000	$ 3,000,000
Non-interest bearing deposit to contract manufacturer, imputed interest rate		5.00%
Disaggregation of Revenue [Line Items]
Deferred commission	26,200,000	$ 26,200,000
Amortization of deferred commission	35,100,000	92,700,000
Impairment loss	0	0
Product
Disaggregation of Revenue [Line Items]
Contract with customer, liability, revenue recognized	13,300,000	61,700,000
Service
Disaggregation of Revenue [Line Items]
Contract with customer, liability, revenue recognized	$ 149,600,000	$ 622,600,000

Other Financial Information - W

Other Financial Information - Warranties (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance as of December 31, 2019	$ 31.4
Provisions made during the period	28.1
Actual costs incurred during the period	(28.9)
Balance as of September 30, 2020	$ 30.6

Other Financial Information - D

Other Financial Information - Deferred Revenue (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Reported as:
Current	$ 750.2	$ 812.9
Long-term	383.8	410.5
Deferred revenue	1,134	1,223.4
Undelivered product commitments and other product deferrals
Deferred product revenue:
Deferred gross product revenue	109.8	141.7
Product
Deferred product revenue:
Deferred gross product revenue	109.8	141.7
Deferred cost of product revenue	(10.5)	(9.1)
Reported as:
Deferred revenue	99.3	132.6
Service
Reported as:
Deferred revenue	$ 1,034.7	$ 1,090.8

Other Financial Information - R

Other Financial Information - Revenue (Details) $ in Millions	Sep. 30, 2020USD ($)
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 1,158.8
Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	109.8
Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	1,049
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	767.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 90.4
Revenue recognition expected by period, satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 677.5
Revenue recognition expected by period, satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 325.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 17.3
Revenue recognition expected by period, satisfaction period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 308.2
Revenue recognition expected by period, satisfaction period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 65.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 2.1
Revenue recognition expected by period, satisfaction period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 63.3
Revenue recognition expected by period, satisfaction period

Other Financial Information -_2

Other Financial Information - Revenue - Total (Details) $ in Millions	Sep. 30, 2020USD ($)
Segment Reporting Information [Line Items]
Revenue recognition expected by period	$ 1,158.8
Product
Segment Reporting Information [Line Items]
Revenue recognition expected by period	109.8
Service
Segment Reporting Information [Line Items]
Revenue recognition expected by period	$ 1,049

Other Financial Information - O

Other Financial Information - Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Financial Information [Abstract]
Interest income	$ 6.1	$ 19.7	$ 30.4	$ 63
Interest expense	(19.1)	(22.1)	(58.5)	(68.3)
Loss on extinguishment of debt	0	(15.3)	0	(15.3)
Gain (loss) on investments, net	2	(3.4)	2.7	(4.6)
Other	(2.5)	0.7	(3.6)	2
Other expense, net	$ (13.5)	$ (20.4)	$ (29)	$ (23.2)

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges (benefits)	$ 1.2	$ (1.1)	$ 14.9	$ 35.6
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges (benefits)			14.9
2020 Restructuring Plan | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges (benefits)	$ 1.2		9.6
2020 Restructuring Plan | Other Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges (benefits)			5.3
Asset impairment charges			$ 5.3

Restructuring Charges - Changes

Restructuring Charges - Changes to Restructuring Liabilities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Charges	$ 1.2	$ (1.1)	$ 14.9	$ 35.6
2020 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance			0.7
Charges			14.9
Cash Payments			(7)
Other			(5.3)
Restructuring liability, ending balance	3.3		3.3
2020 Restructuring Plan | Severance
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance			0.7
Charges	1.2		9.6
Cash Payments			(7)
Other			0
Restructuring liability, ending balance	3.3		3.3
2020 Restructuring Plan | Other Restructuring
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance			0
Charges			5.3
Cash Payments			0
Other			(5.3)
Restructuring liability, ending balance	$ 0		$ 0

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 1,700,000,000
Unaccreted discount and debt issuance costs	(11,800,000)
Hedge accounting fair value adjustments	25,900,000
Total	1,714,100,000
Notional amount of derivatives	1,825,000,000	$ 946,900,000
Designated derivatives:
Debt Instrument [Line Items]
Notional amount of derivatives	1,661,700,000	784,000,000
Designated derivatives: | Fair value hedges: | Interest rate swap contracts
Debt Instrument [Line Items]
Notional amount of derivatives	300,000,000	$ 300,000,000
Senior notes | 4.500% fixed-rate notes (2024 Notes)
Debt Instrument [Line Items]
Long-term debt	$ 350,000,000
Effective interest rate	4.63%
Stated interest rate	4.50%
Senior notes | 4.500% fixed-rate notes (2024 Notes)
Debt Instrument [Line Items]
Long-term debt	$ 150,000,000
Effective interest rate	4.87%
Stated interest rate	4.50%
Senior notes | 4.350% fixed-rate notes ("2025 Notes")
Debt Instrument [Line Items]
Long-term debt	$ 300,000,000
Effective interest rate	4.47%
Stated interest rate	4.35%
Senior notes | 3.750% fixed-rate notes ("2029 Notes")
Debt Instrument [Line Items]
Long-term debt	$ 500,000,000
Effective interest rate	3.86%
Stated interest rate	3.75%
Senior notes | 5.950% fixed-rate notes ("2041 Notes")
Debt Instrument [Line Items]
Long-term debt	$ 400,000,000
Effective interest rate	6.03%
Stated interest rate	5.95%

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details)	9 Months Ended
	Sep. 30, 2020USD ($)
Line of Credit Facility [Line Items]
Amount outstanding	$ 1,714,100,000
Unsecured Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Borrowing capacity	500,000,000
Increase amount of borrowings, subject to lenders' approval	$ 200,000,000
Extension option term	1 year
Amount outstanding	$ 0

Equity - Summary of Dividends P

Equity - Summary of Dividends Paid and Stock Repurchases and Retirements (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Dividends
Per share (in dollars per share)	$ 0.20	$ 0.19		$ 0.60	$ 0.57
Amount	$ 66.2	$ 64.7		$ 197.9	$ 196.4
Repurchased under the 2018 Stock Repurchase Program
Amount	$ 100.4	111.1		345.7	$ 354.9
Forward contract under ASR		$ 60	$ 60	$ 40
Stock Repurchase Program 2018
Repurchased under the 2018 Stock Repurchase Program
Shares (in shares)	4.2	5.1		14.5	13.7
Average price (in usd per share)	$ 23.93	$ 24.90		$ 23.86	$ 25.45
Amount	$ 100	$ 50		$ 300	$ 350

Equity - Cash Dividends on Shar

Equity - Cash Dividends on Shares of Common Stock (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Cash dividends declared per share of common stock (in dollars per share)	$ 0.20	$ 0.20

Equity - Stock Repurchase Activ

Equity - Stock Repurchase Activities (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended				6 Months Ended	9 Months Ended
	Oct. 31, 2019	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Jan. 31, 2018
Accelerated Share Repurchases [Line Items]
Payment pursuant to ASR							$ 305,700,000	$ 354,900,000
Common stock received, aggregate price		$ 100,400,000			$ 111,100,000		$ 345,700,000	$ 354,900,000
Stock Repurchase Program 2018
Accelerated Share Repurchases [Line Items]
Stock repurchase program, authorized amount	$ 3,000,000,000								$ 2,000,000,000
Stock repurchase program, increase to authorized amount	1,000,000,000
Stock repurchased and retired (in shares)		4.2			5.1		14.5	13.7
Common stock received, aggregate price		$ 100,000,000			$ 50,000,000		$ 300,000,000	$ 350,000,000
Stock repurchased (in shares)							14.5
Common stock repurchased, average cost per share (in dollars per share)							$ 23.86
Stock repurchase program, remaining authorized repurchase amount		$ 1,400,000,000					$ 1,400,000,000
Accelerated Share Repurchase Program
Accelerated Share Repurchases [Line Items]
Stock repurchase program, authorized amount	$ 200,000,000
Payment pursuant to ASR				$ 200,000,000
Stock repurchased and retired (in shares)			1.8	6.4		8.2
Common stock received, aggregate price				$ 160,000,000
Common stock repurchased under stock repurchase program market price (in usd per share)				$ 25.15
Weighted average repurchase price, stock repurchased and retired during period (in usd per share)			$ 24.44

Equity - Components of Accumula

Equity - Components of Accumulated Other Comprehensive (Loss) Income, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	$ 4,464.3	$ 4,591.2	$ 4,610.6	$ 4,823.2
Other comprehensive loss before reclassifications			25.7
Amount reclassified from accumulated other comprehensive loss			8
Other comprehensive loss, net	38.1	(15.5)	33.7	(8.6)
Balance	4,560.8	4,642.4	4,560.8	4,642.4
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(22.9)	(11.3)	(18.5)	(18.2)
Balance	15.2	$ (26.8)	15.2	$ (26.8)
Unrealized Gains/Losses on Available-for- Sale Debt Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			29.7
Other comprehensive loss before reclassifications			6.2
Amount reclassified from accumulated other comprehensive loss			(0.5)
Other comprehensive loss, net			5.7
Balance	35.4		35.4
Unrealized Gains/Losses on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			(4.3)
Other comprehensive loss before reclassifications			21
Amount reclassified from accumulated other comprehensive loss			8.5
Other comprehensive loss, net			29.5
Balance	25.2		25.2
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			(43.9)
Other comprehensive loss before reclassifications			(1.5)
Amount reclassified from accumulated other comprehensive loss			0
Other comprehensive loss, net			(1.5)
Balance	$ (45.4)		$ (45.4)

Employee Benefit Plans - Equity

Employee Benefit Plans - Equity Incentive Plan (Details) shares in Millions	Sep. 30, 2020shares
Equity incentive plan 2015
Share-Based Compensation Plans
Number of shares available for future issuance (in shares)	12.4
Employee stock purchase plan 2008
Share-Based Compensation Plans
Number of shares available for future issuance (in shares)	11.5

Employee Benefit Plans - Restri

Employee Benefit Plans - Restricted Stock Unit and Performance Share Award Activities (Details) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Service-based RSUs
Number of Shares
Granted (in shares)	6.2
RSUs, RSAs, and PSAs
Number of Shares
Balance at beginning of period (in shares)	17.5
Granted (in shares)	7.4
Vested (in shares)	(5.9)
Canceled (in shares)	(2)
Balance at end of period (in shares)	17
Weighted Average Grant-Date Fair Value per Share
Balance at beginning of period (in dollars per share) | $ / shares	$ 25.30
Granted (in dollars per share) | $ / shares	22.32
Vested (in dollars per share) | $ / shares	25.95
Canceled (in dollars per share) | $ / shares	25.22
Balance at end of period (in dollars per share) | $ / shares	$ 23.79
Weighted average remaining contractual term	1 year 2 months 12 days
Aggregate intrinsic value | $	$ 364.9
Performance Shares
Number of Shares
Granted (in shares)	0.8
Market-based RSUs
Number of Shares
Granted (in shares)	0.4

Employee Benefit Plans - Employ

Employee Benefit Plans - Employee Stock Purchase Plan (Details) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020period$ / sharesshares	Sep. 30, 2019$ / sharesshares	Sep. 30, 2020period$ / sharesshares	Sep. 30, 2019$ / sharesshares
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESPP offering period duration			24 months
ESPP, number of purchase period | period	4		4
ESPP. purchase period			6 months
ESPP, purchase price of common stock, percent			85.00%
Employee stock purchase plan 2008
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares purchased (in shares) | shares	1.3	1.2	2.7	2.4
Average exercise price per share (in dollars per share) | $ / shares	$ 19.68	$ 22.03	$ 19.59	$ 22.04

Employee Benefit Plans - Share

Employee Benefit Plans - Share Based Compensation by Cost and Expense Categories (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	$ 52.7	$ 57.5	$ 138.7	$ 147.1
Stock options
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	1.5	2.3	5.2	5.6
RSUs, RSAs, and PSAs
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	45.8	50.9	118	127.7
ESPP
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	5.4	4.3	15.5	13.8
Cost of revenues - Product
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	1.4	0.8	3.9	4.3
Cost of revenues - Service
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	4	4.1	11.6	13
Research and development
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	22.9	29.6	57.1	68
Sales and marketing
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	16.4	15.5	43.4	40
General and administrative
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	$ 8	$ 7.5	$ 22.7	$ 21.8

Employee Benefit Plans - Shar_2

Employee Benefit Plans - Share Based Compensation by Share Based Payment Award Types (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Share-based Payment Arrangement [Abstract]
Unrecognized compensation cost	$ 288.4
Unrecognized compensation, weighted average recognition period	1 year 8 months 4 days

Segments - Revenue by Product (

Segments - Revenue by Product (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			1
Total net revenues	$ 1,138.2	$ 1,133.1	$ 3,222.5	$ 3,237.3
Product
Segment Reporting Information [Line Items]
Total net revenues	733.7	743.2	2,034.8	2,075.8
Routing
Segment Reporting Information [Line Items]
Total net revenues	432	407.5	1,149.7	1,199.1
Switching
Segment Reporting Information [Line Items]
Total net revenues	229	241.6	657.6	633.6
Security
Segment Reporting Information [Line Items]
Total net revenues	72.7	94.1	227.5	243.1
Service
Segment Reporting Information [Line Items]
Total net revenues	$ 404.5	$ 389.9	$ 1,187.7	$ 1,161.5

Segments - Revenues by Customer

Segments - Revenues by Customer Vertical (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total net revenues	$ 1,138.2	$ 1,133.1	$ 3,222.5	$ 3,237.3
Cloud
Segment Reporting Information [Line Items]
Total net revenues	253.1	271.9	800.5	780
Service Provider
Segment Reporting Information [Line Items]
Total net revenues	475.1	452.5	1,286.8	1,335.3
Enterprise
Segment Reporting Information [Line Items]
Total net revenues	$ 410	$ 408.7	$ 1,135.2	$ 1,122

Segments - Geographic (Details)

Segments - Geographic (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total net revenues	$ 1,138.2	$ 1,133.1	$ 3,222.5	$ 3,237.3
Total Americas
Segment Reporting Information [Line Items]
Total net revenues	624.3	648.8	1,812.6	1,841.2
United States
Segment Reporting Information [Line Items]
Total net revenues	575	599.4	1,651.7	1,677.2
Other
Segment Reporting Information [Line Items]
Total net revenues	49.3	49.4	160.9	164
Europe, Middle East, and Africa
Segment Reporting Information [Line Items]
Total net revenues	321.1	301.5	870.2	879.6
Asia Pacific
Segment Reporting Information [Line Items]
Total net revenues	$ 192.8	$ 182.8	$ 539.7	$ 516.5

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Jun. 22, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Contingency [Line Items]
Income before income taxes		$ 111.6	$ 118.1	$ 226	$ 240.4
Income tax (benefit) provision		$ (33.8)	$ 18.8	$ (1)	$ 63.8
Effective tax rate		(30.30%)	15.90%	(0.40%)	26.50%
Unrecognized tax benefits		$ 112.2		$ 112.2
Interest and penalties		18.4		18.4
Cumulative impact of cost sharing for stock-based compensation	$ 18.2
India tax authority
Income Tax Contingency [Line Items]
Unrecognized tax benefits		54.5		54.5
Maximum
Income Tax Contingency [Line Items]
Unrecognized tax benefits, maximum decrease in the next twelve months		$ 11.6		$ 11.6

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net income	$ 145.4	$ 99.3	$ 227	$ 176.6
Denominator:
Weighted-average shares used to compute basic net income per share (in shares)	330.9	342.2	330.9	345.5
Dilutive effect of employee stock awards (in shares)	3.6	3.3	4.3	4.6
Weighted-average shares used to compute diluted net income per share (in shares)	334.5	345.5	335.2	350.1
Net income per share
Basic (in dollars per share)	$ 0.44	$ 0.29	$ 0.69	$ 0.51
Diluted, (in dollars per share)	$ 0.43	$ 0.29	$ 0.68	$ 0.50
Anti-dilutive shares (in shares)	3.4	2.8	5.5	2.7

Commitments and Contingencies -

Commitments and Contingencies - Commitments (Details) $ in Millions	Sep. 30, 2020USD ($)
Loss Contingencies [Line Items]
Purchase obligation	$ 1,402.5
Excess purchase commitments and obsolete materials liability	18.5
Master Service Agreement
Loss Contingencies [Line Items]
Reduction in fees payable	$ 79.4

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 27, 2020	Oct. 26, 2020	Oct. 31, 2020	Sep. 30, 2020	Sep. 30, 2020
Subsequent Event [Line Items]
Cash dividends declared per share of common stock (in dollars per share)				$ 0.20	$ 0.20
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per share of common stock (in dollars per share)	$ 0.20
Subsequent Event | 128 Technology
Subsequent Event [Line Items]
Consideration transferred, cash			$ 450
Subsequent Event | Netrounds
Subsequent Event [Line Items]
Consideration transferred, cash		$ 35