Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Jul. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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		322,609,464
Entity Central Index Key	0001043604
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total net revenues	$ 1,269.6	$ 1,172.3	$ 2,437.8	$ 2,246.7
Cost of revenues:
Total cost of revenues	575.5	490.4	1,094.3	949.2
Gross margin	694.1	681.9	1,343.5	1,297.5
Operating expenses:
Research and development	244.3	245.8	492.9	500.5
Sales and marketing	274.3	257.8	547.6	510.5
General and administrative	67.2	71.0	127.4	132.1
Restructuring charges	0.5	21.6	9.3	40.9
Total operating expenses	586.3	596.2	1,177.2	1,184.0
Operating income	107.8	85.7	166.3	113.5
Gain on divestiture	45.8	0.0	45.8	0.0
Loss on extinguishment of debt	0.0	0.0	0.0	(60.6)
Other expense, net	(8.1)	(10.9)	(21.0)	(15.9)
Income before income taxes and loss from equity method investment	145.5	74.8	191.1	37.0
Income tax provision	31.6	12.8	21.5	6.1
Loss from equity method investment, net of tax	0.5	0.0	0.5	0.0
Net income	$ 113.4	$ 62.0	$ 169.1	$ 30.9
Net income per share:
Basic (in dollars per share)	$ 0.35	$ 0.19	$ 0.53	$ 0.09
Diluted (in dollars per share)	$ 0.35	$ 0.19	$ 0.51	$ 0.09
Weighted-average shares used to compute net income per share:
Basic (in shares)	321.0	324.5	321.1	325.4
Diluted (in shares)	328.1	330.4	329.3	331.5
Product
Total net revenues	$ 839.8	$ 759.2	$ 1,584.1	$ 1,431.6
Cost of revenues:
Total cost of revenues	431.9	350.4	810.4	666.9
Service
Total net revenues	429.8	413.1	853.7	815.1
Cost of revenues:
Total cost of revenues	$ 143.6	$ 140.0	$ 283.9	$ 282.3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 113.4	$ 62.0	$ 169.1	$ 30.9
Available-for-sale debt securities:
Change in net unrealized gains and losses	(1.7)	1.3	(7.4)	0.1
Net realized losses (gains) reclassified into net income	0.1	(0.2)	0.2	(1.0)
Net change on available-for-sale debt securities	(1.6)	1.1	(7.2)	(0.9)
Cash flow hedges:
Change in net unrealized gains and losses	(1.0)	(19.7)	19.8	18.8
Net realized losses (gains) reclassified into net income	4.0	(7.2)	4.1	(16.1)
Net change on cash flow hedges	3.0	(26.9)	23.9	2.7
Change in foreign currency translation adjustments	(13.2)	0.4	(14.7)	(1.5)
Other comprehensive (loss) income, net	(11.8)	(25.4)	2.0	0.3
Comprehensive income	$ 101.6	$ 36.6	$ 171.1	$ 31.2

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 721.8	$ 922.5
Short-term investments	294.3	315.5
Accounts receivable, net of allowances	1,048.4	994.4
Inventory	394.9	272.6
Prepaid expenses and other current assets	612.6	451.6
Total current assets	3,072.0	2,956.6
Property and equipment, net	675.7	703.0
Operating lease assets	145.2	161.3
Long-term investments	269.5	455.5
Purchased intangible assets, net	196.2	284.3
Goodwill	3,733.8	3,762.1
Other long-term assets	768.6	564.2
Total assets	8,861.0	8,887.0
Current liabilities:
Accounts payable	360.6	273.7
Accrued compensation	276.1	336.0
Deferred revenue	940.4	937.9
Other accrued liabilities	372.8	328.9
Total current liabilities	1,949.9	1,876.5
Long-term debt	1,625.8	1,686.8
Long-term deferred revenue	522.2	475.7
Long-term income taxes payable	274.3	330.5
Long-term operating lease liabilities	125.1	142.2
Other long-term liabilities	115.0	58.4
Total liabilities	4,612.3	4,570.1
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, $0.00001 par value; 10.0 shares authorized; none issued and outstanding	0.0	0.0
Common stock, $0.00001 par value; 1,000.0 shares authorized; 320.4 shares and 321.6 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	0.0	0.0
Additional paid-in capital	6,874.2	6,972.6
Accumulated other comprehensive loss	(0.1)	(2.1)
Accumulated deficit	(2,625.4)	(2,653.6)
Total stockholders' equity	4,248.7	4,316.9
Total liabilities and stockholders' equity	$ 8,861.0	$ 8,887.0

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock - par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock - shares authorized (in shares)	10,000,000.0	10,000,000.0
Preferred stock - issued (in shares)	0	0
Preferred stock - outstanding (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock - shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock - issued (in shares)	320,400,000	321,600,000
Common stock - outstanding (in shares)	320,400,000	321,600,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 169.1	$ 30.9
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	92.4	108.0
Depreciation, amortization, and accretion	111.5	120.9
Operating lease assets expense	20.3	24.8
Gain on divestiture	(45.8)	0.0
Loss on extinguishment of debt	0.0	60.6
Other	8.4	4.7
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(54.2)	195.1
Prepaid expenses and other assets	(473.1)	(55.4)
Accounts payable	88.5	(18.5)
Accrued compensation	(54.7)	(4.4)
Income taxes payable	(3.9)	(3.4)
Other accrued liabilities	17.1	(71.8)
Deferred revenue	50.6	45.5
Net cash (used in) provided by operating activities	(73.8)	437.0
Cash flows from investing activities:
Purchases of property and equipment	(49.5)	(41.1)
Proceeds from divestiture, net	89.1	0.0
Purchases of available-for-sale debt securities	(104.1)	(314.4)
Proceeds from sales of available-for-sale debt securities	74.8	352.3
Proceeds from maturities and redemptions of available-for-sale debt securities	218.8	200.5
Purchases of equity securities	(12.2)	(6.1)
Proceeds from sales of equity securities	3.3	5.0
Payments for business acquisitions, net of cash and cash equivalents acquired	(3.9)	(175.0)
Other	1.4	(0.6)
Net cash provided by investing activities	217.7	20.6
Cash flows from financing activities:
Repurchase and retirement of common stock	(226.3)	(243.1)
Proceeds from issuance of common stock	29.1	28.9
Payment of dividends	(134.8)	(129.9)
Payment of debt	0.0	(423.8)
Payment for debt extinguishment costs	0.0	(58.3)
Other	0.0	(3.4)
Net cash used in financing activities	(332.0)	(829.6)
Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash	(14.0)	(1.6)
Net decrease in cash, cash equivalents, and restricted cash	(202.1)	(373.6)
Cash, cash equivalents, and restricted cash at beginning of period	942.7	1,383.0
Cash, cash equivalents, and restricted cash at end of period	740.6	1,009.4
Non-cash investing activity:
Equity method investment (Note 2)	$ 40.3	$ 0.0

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) Income	Accumulated Deficit
Balance (in shares) at Dec. 31, 2020		327.7
Balance at Dec. 31, 2020	$ 4,543.5		$ 7,156.9	$ 55.6	$ (2,669.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30.9				30.9
Other comprehensive (loss) income, net	0.3			0.3
Issuance of common stock (in shares)		5.8
Issuance of common stock	31.6		31.6
Repurchase and retirement of common stock (in shares)		(9.5)
Repurchase and retirement of common stock	(243.1)		(123.4)		(119.7)
Share-based compensation expense	107.6		107.6
Payments of cash dividends	(129.9)		(129.9)
Balance (in shares) at Jun. 30, 2021		324.0
Balance at Jun. 30, 2021	4,340.9		7,042.8	55.9	(2,757.8)
Balance (in shares) at Mar. 31, 2021		327.4
Balance at Mar. 31, 2021	4,429.6		7,110.9	81.3	(2,762.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	62.0				62.0
Other comprehensive (loss) income, net	(25.4)			(25.4)
Issuance of common stock (in shares)		0.8
Issuance of common stock	0.5		0.5
Repurchase and retirement of common stock (in shares)		(4.2)
Repurchase and retirement of common stock	(111.2)		(54.0)		(57.2)
Share-based compensation expense	50.1		50.1
Payments of cash dividends	(64.7)		(64.7)
Balance (in shares) at Jun. 30, 2021		324.0
Balance at Jun. 30, 2021	4,340.9		7,042.8	55.9	(2,757.8)
Balance (in shares) at Dec. 31, 2021		321.6
Balance at Dec. 31, 2021	4,316.9		6,972.6	(2.1)	(2,653.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	169.1				169.1
Other comprehensive (loss) income, net	2.0			2.0
Issuance of common stock (in shares)		5.5
Issuance of common stock	29.1		29.1
Repurchase and retirement of common stock (in shares)		(6.7)
Repurchase and retirement of common stock	(226.3)		(85.4)		(140.9)
Share-based compensation expense	92.7		92.7
Payments of cash dividends	(134.8)		(134.8)
Balance (in shares) at Jun. 30, 2022		320.4
Balance at Jun. 30, 2022	4,248.7		6,874.2	(0.1)	(2,625.4)
Balance (in shares) at Mar. 31, 2022		322.8
Balance at Mar. 31, 2022	4,266.9		6,933.1	11.7	(2,677.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	113.4				113.4
Other comprehensive (loss) income, net	(11.8)			(11.8)
Issuance of common stock (in shares)		0.7
Issuance of common stock	0.5		0.5
Repurchase and retirement of common stock (in shares)		(3.1)
Repurchase and retirement of common stock	(100.0)		(39.1)		(60.9)
Share-based compensation expense	47.0		47.0
Payments of cash dividends	(67.3)		(67.3)
Balance (in shares) at Jun. 30, 2022		320.4
Balance at Jun. 30, 2022	$ 4,248.7		$ 6,874.2	$ (0.1)	$ (2,625.4)

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.21	$ 0.20	$ 0.42	$ 0.40

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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, 2021 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 six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, 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, 2021 (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 equity method investments described below, there have been no significant changes to the Company's significant accounting policies described in Note 1, Description of Business, Basis of Presentation and Significant Accounting Policies, in Notes to Consolidated Financial Statements in Item 8 of Part II of the Form 10-K for the fiscal year ended December 31, 2021. The Company accounts for investments in companies over which it has the ability to exercise significant influence, but does not have control over the investee, under the equity method of accounting. The investment is initially measured at fair value and subsequently adjusted for any impairment, dividend received, plus or minus the Company's proportionate share of the equity method investee's income or loss. The Company records its interest in the net earnings or loss of its equity method investment along with adjustments for unrealized profits or losses on intra-entity transactions, within its Statements of Operations. Depending on the timing of such financial statements of the investee, there may be a lag between the timing of such financial statement and the Company's quarter-end date. For the Company's sole equity method investment, the Company's share of the investee's net earnings or loss is recorded two months in arrears. The Company records an impairment when factors indicate that the carrying amount of the investment might not be recoverable. Recently Adopted Accounting Standards Accounting for Contract Assets and Contract Liabilities from Contracts with Customers: On January 1, 2022, the Company early adopted ASU No. 2021-08 (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if the contracts were originated by the acquirer. Upon adoption, the standard did not have a material impact on the Condensed Consolidated Financial Statements. Reference Rate Reform: In March 2020, the FASB issued ASU No. 2020-04 (Topic 848), Reference Rate Reform, 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. The standard became effective upon issuance and may be applied to any new or amended contracts, hedging relationships, and other transactions that reference LIBOR through December 31, 2022. The adoption did not have a material impact on the Condensed Consolidated Financial Statements.

Divestiture

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Divestiture

Note 2. Divestiture

On April 4, 2022, Synopsys, Inc ("Synopsys") purchased Juniper's silicon photonics business and formed a new entity called OpenLight Photonics, Inc. ("OpenLight"). The Company received cash consideration of $90.0 million and retained a 25% equity interest in the new entity. The agreements with Synopsys contain redemption options with respect to Juniper's equity interest in OpenLight, which are exercisable either by (i) Juniper on or after the third anniversary of the acquisition or sooner in certain circumstances, or (ii) Synopsys on or after the third anniversary of the acquisition. Juniper can exercise its put option at the greater of fair value at the time of redemption or $30.0 million, and the option was assigned a value of $10.8 million. The divestiture did not represent a strategic shift with a major effect on the Company’s operations and financial results, and therefore, does not qualify as a discontinued operation.

The Company recognized a gain on divestiture of $45.8 million and the portion of gain related to the remeasurement of retained investment was $19.5 million. The following table presents the carrying value of the major components of assets and liabilities derecognized as of April 4, 2022 (in millions):


	As of
	April 4, 2022
Assets:
Total current assets	$	1.0
Property and equipment, net	3.6
Deferred tax assets	3.9
Other long-term assets	1.1
Purchased intangible assets, net	49.0
Goodwill	28.9
Total assets held for sale	$	87.5
Liabilities:
Accounts payable	$	1.4
Other liabilities	1.1
Total liabilities held for sale	$	2.5

The Company's 25% equity interest in OpenLight is accounted for under the equity method of accounting. The investment was recognized at fair value in Other Long-term Assets within the consolidated balance sheet at an aggregate amount of $40.8 million. The fair value was determined based on the price paid by Synopsys for its 75% equity interest in OpenLight along with the value of the redemption options.

Cash Equivalents and Investments

6 Months Ended

Jun. 30, 2022

Cash Equivalents and Investments [Abstract]

Cash Equivalents and Investments

Note 3. 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 June 30, 2022 and December 31, 2021 (in millions):


	As of June 30, 2022								As of December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Fixed income securities:
Asset-backed and mortgage-backed securities	$	81.5	$	—	$	(1.4)	$	80.1	$	139.1	$	—	$	(0.5)	$	138.6
Certificates of deposit	11.5		—		—		11.5		5.0		—		—		5.0
Commercial paper	28.5		—		—		28.5		75.8		—		—		75.8
Corporate debt securities	386.7		—		(8.3)		378.4		443.3		0.7		(1.5)		442.5
Foreign government debt securities	12.8		—		(0.3)		12.5		12.8		—		(0.1)		12.7
Time deposits	106.7		—		—		106.7		35.2		—		—		35.2
U.S. government agency securities	26.5		—		(0.6)		25.9		26.8		—		(0.1)		26.7
U.S. government securities	30.2		—		(0.3)		29.9		73.5		0.1		—		73.6
Total fixed income securities	684.4		—		(10.9)		673.5		811.5		0.8		(2.2)		810.1
Privately-held debt and redeemable preferred stock securities	15.1		37.4		—		52.5		9.6		37.4		—		47.0
Total available-for-sale debt securities	$	699.5	$	37.4	$	(10.9)	$	726.0	$	821.1	$	38.2	$	(2.2)	$	857.1

Reported as:
Cash equivalents	$	116.2	$	—	$	—	$	116.2	$	47.2	$	—	$	—	$	47.2
Short-term investments	290.2		—		(2.4)		287.8		306.8		0.7		(0.1)		307.4
Long-term investments	278.0		—		(8.5)		269.5		457.5		0.1		(2.1)		455.5
Other long-term assets	15.1		37.4		—		52.5		9.6		37.4		—		47.0
Total	$	699.5	$	37.4	$	(10.9)	$	726.0	$	821.1	$	38.2	$	(2.2)	$	857.1

The following table presents the contractual maturities of the Company's total fixed income securities as of June 30, 2022 (in millions):


	Amortized Cost		Estimated Fair Value
Due in less than one year	$	406.4	$	404.0
Due between one and five years	278.0		269.5
Total	$	684.4	$	673.5

As of June 30, 2022, the Company's unrealized loss of $10.9 million resulted from 469 investments, of which loss aggregating $9.9 million was from investments in an unrealized loss position for less than 12 months, and $1.0 million was from investments in an unrealized loss position for more than 12 months. 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 six months ended June 30, 2022 and June 30, 2021.

During the three and six months ended June 30, 2022 and June 30, 2021, 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 June 30, 2022 and December 31, 2021 (in millions):


	As of
	June 30, 2022		December 31, 2021
Equity investments with readily determinable fair value:
Money market funds	$	224.9	$	382.0
Mutual funds	27.1		33.4
Publicly-traded equity securities	6.5		8.1
Equity investments without readily determinable fair value	163.4		150.1
Equity investment under the equity method of accounting	40.3		—
Total equity securities	$	462.2	$	573.6

Reported as:
Cash equivalents	$	214.9	$	371.5
Short-term investments	6.5		8.1
Prepaid expenses and other current assets	12.3		15.1
Other long-term assets	228.5		178.9
Total	$	462.2	$	573.6

For the three and six months ended June 30, 2022 and June 30, 2021, there were no material unrealized gains or losses recognized for equity investments with readily determinable fair value and equity investments without readily determinable fair value. For the three months ended June 30, 2022, the loss recognized from the equity method investment was $0.5 million.

Restricted Cash and Investments

The Company has restricted cash and investments for: (i) amounts under the Company's non-qualified deferred compensation plan for senior-level employees; (ii) amounts held under the Company's short-term disability plan in California; and (iii) amounts held in escrow accounts, as required in connection with certain acquisitions completed primarily in 2020. Restricted investments consist of equity investments. As of June 30, 2022, the carrying value of restricted cash and investments was $56.0 million, of which $28.1 million was included in prepaid expenses and other current assets, and $27.9 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 June 30, 2022 and December 31, 2021 (in millions):


	As of
	June 30, 2022		December 31, 2021
Cash and cash equivalents	$	721.8	$	922.5
Restricted cash included in Prepaid expenses and other current assets	15.8		17.2
Restricted cash included in Other long-term assets	3.0		3.0
Total cash, cash equivalents, and restricted cash	$	740.6	$	942.7

Fair Value Measurements

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 4. 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 as of June 30, 2022 and December 31, 2021 (in millions):


	Fair Value Measurements at June 30, 2022								Fair Value Measurements at December 31, 2021
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total
Assets:
Available-for-sale debt securities:
Asset-backed and mortgage-backed securities	$	—	$	80.1	$	—	$	80.1	$	—	$	138.6	$	—	$	138.6
Certificates of deposit	—		11.5		—		11.5		—		5.0		—		5.0
Commercial paper	—		28.5		—		28.5		—		75.8		—		75.8
Corporate debt securities	—		378.4		—		378.4		—		442.5		—		442.5
Foreign government debt securities	—		12.5		—		12.5		—		12.7		—		12.7
Time deposits	—		106.7		—		106.7		—		35.2		—		35.2
U.S. government agency securities	—		25.9		—		25.9		—		26.7		—		26.7
U.S. government securities	13.6		16.3		—		29.9		42.3		31.3		—		73.6
Privately-held debt and redeemable preferred stock securities	—		—		52.5		52.5		—		—		47.0		47.0
Total available-for-sale debt securities	13.6		659.9		52.5		726.0		42.3		767.8		47.0		857.1
Equity securities:
Money market funds	224.9		—		—		224.9		382.0		—		—		382.0
Mutual funds	27.1		—		—		27.1		33.4		—		—		33.4
Publicly-traded equity securities	6.5		—		—		6.5		8.1		—		—		8.1
Total equity securities	258.5		—		—		258.5		423.5		—		—		423.5
Derivative assets:
Foreign exchange contracts	—		5.1		—		5.1		—		9.2		—		9.2
Interest rate contracts	—		107.4		—		107.4		—		47.1		—		47.1
Total derivative assets	—		112.5		—		112.5		—		56.3		—		56.3
Total assets measured at fair value on a recurring basis	$	272.1	$	772.4	$	52.5	$	1,097.0	$	465.8	$	824.1	$	47.0	$	1,336.9
Liabilities:
Derivative liabilities:
Foreign exchange contracts	$	—	$	(43.9)	$	—	$	(43.9)	$	—	$	(24.0)	$	—	$	(24.0)
Interest rate contracts	—		(62.2)		—		(62.2)		—		(2.5)		—		(2.5)
Total derivative liabilities	—		(106.1)		—		(106.1)		—		(26.5)		—		(26.5)
Total liabilities measured at fair value on a recurring basis	$	—	$	(106.1)	$	—	$	(106.1)	$	—	$	(26.5)	$	—	$	(26.5)


	Fair Value Measurements at June 30, 2022								Fair Value Measurements at December 31, 2021
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total

Total assets, reported as:
Cash equivalents	$	214.9	$	116.2	$	—	$	331.1	$	371.6	$	47.2	$	—	$	418.8
Short-term investments	15.2		279.1		—		294.3		41.5		274.0		—		315.5
Long-term investments	4.8		264.7		—		269.5		8.8		446.7		—		455.5
Prepaid expenses and other current assets	12.4		1.1		—		13.5		15.1		8.8		—		23.9
Other long-term assets	24.8		111.3		52.5		188.6		28.8		47.4		47.0		123.2
Total assets measured at fair value	$	272.1	$	772.4	$	52.5	$	1,097.0	$	465.8	$	824.1	$	47.0	$	1,336.9

Total liabilities, reported as:
Other accrued liabilities	$	—	$	(29.0)	$	—	$	(29.0)	$	—	$	(14.9)	$	—	$	(14.9)
Other long-term liabilities	—		(77.1)		—		(77.1)		—		(11.6)		—		(11.6)
Total liabilities measured at fair value on a recurring basis	$	—	$	(106.1)	$	—	$	(106.1)	$	—	$	(26.5)	$	—	$	(26.5)

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 six months ended June 30, 2022, 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 six months ended June 30, 2022, 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 of equity securities without readily determinable fair value, including those accounted for under the equity method of accounting, on a nonrecurring basis 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 June 30, 2022, 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 six months ended June 30, 2022.

As of June 30, 2022 and December 31, 2021, 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 June 30, 2022 and December 31, 2021, the estimated fair value of the Company's total outstanding debt in the Condensed Consolidated Balance Sheets was $1,523.8 million and $1,845.6 million, respectively, based on observable market inputs (Level 2).

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Note 5. 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 derivative instruments is summarized as follows (in millions):


	As of
	June 30, 2022		December 31, 2021
Designated derivatives:
Cash flow hedges:
Foreign currency contracts	$	1,009.4	$	873.9
Interest rate lock contracts	650.0		650.0
Fair value hedges:
Interest rate swap contracts	600.0		600.0
Total designated derivatives	2,259.4		2,123.9

Non-designated derivatives	148.4		144.6
Total	$	2,407.8	$	2,268.5

The fair value of derivative instruments on the Condensed Consolidated Balance Sheets was as follows:


		As of
	Balance Sheet Classification	June 30, 2022		December 31, 2021
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	3.7	$	8.7
Foreign currency contracts	Other long-term assets	1.1		0.4
Interest rate lock contracts	Other long-term assets	107.4		45.0
Interest rate swap contracts	Other long-term assets	—		2.1
Total derivatives designated as hedging instruments		$	112.2	$	56.2
Derivatives not designated as hedging instruments	Other current assets	0.3		0.1
Total derivative assets		$	112.5	$	56.3
Derivative liabilities:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other accrued liabilities	$	28.8	$	14.8
Foreign currency contracts	Other long-term liabilities	14.9		9.1

Interest rate swap contracts	Other long-term liabilities	62.2		2.5
Total derivatives designated as hedging instruments		$	105.9	$	26.4
Derivatives not designated as hedging instruments	Other accrued liabilities	0.2		0.1
Total derivative liabilities		$	106.1	$	26.5

Offsetting of Derivative Instruments

The Company presents its derivative instruments at gross fair values in the Consolidated Balance Sheets. As of June 30, 2022 and December 31, 2021 the potential effects of set-off associated with the derivative contracts would be a reduction to both derivative assets and derivative liabilities by $61.7 million and $17.5 million, respectively.

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.

The Company enters into interest rate swaps, designated as fair value hedges, to convert the fixed interest rates of certain Senior Notes ("Notes") to floating interest rates. In April 2021, the Company entered into swaps for an aggregate notional amount of $300.0 million for its fixed-rate 2030 Notes in addition to the swaps entered in 2019 for an aggregate notional amount of $300.0 million for its fixed-rate 2041 Notes. The interest rate swaps will expire within eight years.

Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations

For cash flow hedges, the Company recognized an unrealized gain of $7.2 million and $35.2 million in accumulated other comprehensive income (loss) for the effective portion of its derivative instruments for the three and six months ended June 30, 2022, respectively. The Company recognized an unrealized loss of $26.9 million and an unrealized gain of $26.1 million in accumulated other comprehensive income for the effective portion of its derivative instruments for the three and six months ended June 30, 2021, respectively.

For foreign currency forward contracts, the Company reclassified a loss of $3.5 million and $3.1 million out of accumulated other comprehensive income (loss) to cost of revenues and operating expenses in the Condensed Consolidated Statements of Operations during the three and six months ended June 30, 2022, respectively, and a gain of $8.1 million and $18.1 million for the comparable periods ended June 30, 2021, respectively. As of June 30, 2022, an estimated $25.0 million of unrealized net loss 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 to seven months. The outstanding non-designated derivative instruments are carried at fair value. Changes in the fair value of these derivatives, which were recorded in Other expense, net within the Condensed Consolidated Statements of Operations, were not material during the three and six months ended June 30, 2022 and June 30, 2021.

Other Financial Information

6 Months Ended

Jun. 30, 2022

Other Financial Information [Abstract]

Other Financial Information

Note 6. Other Financial Information

Total Inventory

Total inventory consisted of the following (in millions):


	As of
	June 30, 2022		December 31, 2021
Production and service materials	$	333.2	$	208.6
Finished goods	77.1		75.6
Total inventory	$	410.3	$	284.2

Reported as:
Inventory	$	394.9	$	272.6
Other long-term assets	15.4		11.6
Total inventory	$	410.3	$	284.2

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in millions):


	As of
	June 30, 2022		December 31, 2021
Contract manufacturer deposit	$	359.4	$	223.8
Prepaid expenses	115.0		104.3
Other current assets	138.2		123.5
Total prepaid expenses and other current assets	$	612.6	$	451.6

Warranties

Changes during the six months ended June 30, 2022 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, 2021	$	33.0
Provisions made during the period	15.3

Actual costs incurred during the period	(17.1)

Balance as of June 30, 2022	$	31.2

Revenue

See Note 11, Segments, for disaggregated revenue by customer solution, customer vertical, and geographic region.

Product revenue of $12.5 million and $33.5 million included in deferred revenue at January 1, 2022 was recognized during the three and six months ended June 30, 2022, respectively. Service revenue of $227.2 million and $514.1 million included in deferred revenue at January 1, 2022 was recognized during the three and six months ended June 30, 2022, respectively.

Remaining Performance Obligations

Remaining Performance Obligations ("RPO") are comprised mainly of deferred product and service revenue, and to a lesser extent, unbilled service revenue from non-cancellable contracts for which the Company has not invoiced and has an obligation to perform, and for which revenue has not yet been recognized in the financial statements.

The following table summarizes the breakdown of RPO as of June 30, 2022 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	$	117.3	$	98.9	$	14.8	$	3.6
Service	1,366.4		859.7		397.3		109.4
Total	$	1,483.7	$	958.6	$	412.1	$	113.0

Deferred Commissions

Deferred commissions were $31.7 million as of June 30, 2022. For the three and six months ended June 30, 2022, amortization expense for previously deferred commissions was $42.1 million and $89.2 million, respectively, and there were no impairment charges recognized.

Other Expense, Net

Other expense, net, consisted of the following (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Interest income	$	3.3	$	3.4	$	5.9	$	7.5
Interest expense	(13.4)		(12.6)		(25.9)		(26.3)
Gain (loss) on investments, net	0.2		(1.2)		(3.1)		2.6
Other	1.8		(0.5)		2.1		0.3
Other expense, net	$	(8.1)	$	(10.9)	$	(21.0)	$	(15.9)

Restructuring Charges

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring Charges

Note 7. Restructuring Charges

During the first quarters of 2022 and 2021, the Company initiated restructuring plans designed to enable reinvestment in certain key priority areas to align with strategic changes, which resulted in severance costs from workforce reductions, contract termination and other exit costs. Activities under our approved restructuring plans are expected to be completed by the end of 2022.

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 (in millions):


	December 31, 2021		Charges		Cash Payments		June 30, 2022
Severance	$	1.4	$	3.8	$	(3.3)	$	1.9
Contract terminations and other	10.9		5.5		(9.1)		7.3
Total	$	12.3	$	9.3	$	(12.4)	$	9.2

Debt

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt

Note 8. Debt

Debt

The following table summarizes the Company's total debt (in millions, except percentages):


				As of
	Maturity Date	Effective Interest Rates		June 30, 2022		December 31, 2021
Senior Notes ("Notes"):
1.200% fixed-rate notes ("2025 Notes")	December 2025	1.37	%	$	400.0	$	400.0
3.750% fixed-rate notes ("2029 Notes")	August 2029	3.86	%	500.0		500.0
2.000% fixed-rate notes ("2030 Notes")	December 2030	2.12	%	400.0		400.0
5.950% fixed-rate notes ("2041 Notes")	March 2041	6.03	%	400.0		400.0
Total Notes				1,700.0		1,700.0
Unaccreted discount and debt issuance costs				(12.0)		(12.9)
Hedge accounting fair value adjustments(*)				(62.2)		(0.3)
Total				$	1,625.8	$	1,686.8

________________________________

(*) Represents the fair value adjustments for interest rate swaps with an aggregate notional amount of $600.0 million. These interest rate swaps convert the fixed interest rates of certain Notes to floating interest rates and are designated as fair value hedges. See Note 5, 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 indenture and the supplemental indentures (together, 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 June 30, 2022, 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. As of June 30, 2022, the Company was in compliance with all covenants and no amounts were outstanding under its credit facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
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-Subparagraph (h)
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-Subparagraph (SX 210.4-08(c))
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Equity

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Equity

Note 9. Equity

The following table summarizes dividends paid and stock repurchases under the Company's stock repurchase program (in millions, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Dividends:
Per share	$	0.21	$	0.20	$	0.42	$	0.40
Amount	$	67.3	$	64.7	$	134.8	$	129.9

Repurchased under the 2018 Stock Repurchase Program:
Shares	3.1		4.2		6.3		9.3
Average price per share	$	32.16	$	26.34	$	33.38	$	25.30
Amount	$	100.0	$	110.0	$	212.2	$	235.0

Cash Dividends on Shares of Common Stock

During the three and six months ended June 30, 2022, the Company declared and paid a quarterly cash dividend of $0.21 per common share, totaling $67.3 million and $134.8 million, respectively, on its outstanding common stock. 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 15, Subsequent Events, for discussion of the Company's dividend declaration subsequent to June 30, 2022.

Stock Repurchase Activities

During the six months ended June 30, 2022, the Company repurchased 6.3 million shares of its common stock in the open market for an aggregate purchase price of $212.2 million at an average price of $33.38 per share under the 2018 Stock Repurchase Program.

As of June 30, 2022, there was approximately $0.7 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.

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 the Company's financial statements as they reduce the number of shares that would have been issued upon vesting. Repurchases associated with tax withholdings were $14.1 million during the six months ended June 30, 2022, and $8.1 million during the six months ended June 30, 2021.

Accumulated Other Comprehensive Loss, Net of Tax

The components of accumulated other comprehensive loss, net of related taxes, for the six months ended June 30, 2022 were as follows (in millions):


	Unrealized Gains/Losses on Available-for- Sale Debt Securities		Unrealized Gains/Losses on Cash Flow Hedges		Foreign Currency Translation Adjustments		Total
Balance as of December 31, 2021	$	27.9	$	19.0	$	(49.0)	$	(2.1)
Other comprehensive (loss) income before reclassifications	(7.4)		19.8		(14.7)		(2.3)
Amount reclassified from accumulated other comprehensive loss	0.2		4.1		—		4.3
Other comprehensive (loss) income, net	(7.2)		23.9		(14.7)		2.0
Balance as of June 30, 2022	$	20.7	$	42.9	$	(63.7)	$	(0.1)

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Employee Benefit Plans

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Employee Benefit Plans

Note 10. 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. In May 2022, the Company's stockholders approved an additional 4.5 million shares of common stock for issuance under the Company's 2015 Equity Incentive Plan (the "2015 Plan"). As of June 30, 2022, 8.8 million and 7.4 million shares were available for future issuance under 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 activities and related information as of and for the six months ended June 30, 2022 were as follows (in millions, except per share amounts and years):


	Outstanding RSUs, RSAs and PSAs
	Number of Shares	Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value
Balance as of December 31, 2021	22.2	$	24.55
Granted(*)	3.1	34.15

Vested	(3.7)	24.39
Canceled	(2.0)	25.45
Balance as of June 30, 2022	19.6	$	26.01	1.2	$	557.8

________________________________

(*) Includes 1.5 million service-based, 1.2 million performance-based, and 0.4 million market-based awards. 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):


	Six Months Ended June 30,
	2022		2021
Shares purchased	1.4		1.4
Average exercise price per share	$	20.07	$	19.75

Share-Based Compensation Expense

Share-based compensation expense associated with stock options, RSUs, RSAs, PSAs, and ESPP purchase rights was recorded in the following cost and expense categories in the Condensed Consolidated Statements of Operations (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenues - Product	$	1.2	$	1.0	$	2.6	$	2.3
Cost of revenues - Service	3.7		3.9		8.2		8.4
Research and development	19.3		20.1		35.9		44.3
Sales and marketing	12.4		14.9		24.9		31.4
General and administrative	10.6		10.6		20.8		21.6
Total	$	47.2	$	50.5	$	92.4	$	108.0

The following table summarizes share-based compensation expense by award type (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock options	$	1.6	$	2.5	$	3.1	$	5.2
RSUs, RSAs, and PSAs	40.9		44.6		79.4		94.5
ESPP purchase rights	4.7		3.4		9.9		8.3
Total	$	47.2	$	50.5	$	92.4	$	108.0

As of June 30, 2022, the total unrecognized compensation cost related to unvested share-based awards was $310.3 million to be recognized over a weighted-average period of 1.69 years.

Segments

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segments

Note 11. 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 customer solution, customer vertical, and geographic region as presented below.

The following table presents net revenues by customer solution (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Customer Solutions:
Automated WAN Solutions	$	462.9	$	396.1	$	853.6	$	782.5
Cloud-Ready Data Center	200.9		201.9		389.7		359.3
AI-Driven Enterprise	227.3		195.1		441.3		356.3
Hardware Maintenance and Professional Services	378.5		379.2		753.2		748.6
Total	$	1,269.6	$	1,172.3	$	2,437.8	$	2,246.7

The following table presents net revenues by customer vertical (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cloud	$	331.0	$	320.6	$	638.0	$	591.3
Service Provider	470.8		443.7		898.8		881.9
Enterprise	467.8		408.0		901.0		773.5
Total	$	1,269.6	$	1,172.3	$	2,437.8	$	2,246.7

The Company attributes revenues to a geographic region based on the customer’s shipping address. The following table presents net revenues by geographic region (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Americas:
United States	$	691.0	$	597.4	$	1,294.6	$	1,120.5
Other	57.6		55.3		109.0		115.2
Total Americas	748.6		652.7		1,403.6		1,235.7
Europe, Middle East, and Africa	337.2		323.9		671.1		635.0
Asia Pacific	183.8		195.7		363.1		376.0
Total	$	1,269.6	$	1,172.3	$	2,437.8	$	2,246.7

For the three and six months ended June 30, 2022 and June 30, 2021, no customer accounted for more than 10% of total net revenues.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Note 12. Income Taxes

The following table provides details of income taxes (in millions, except percentages):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Income before income taxes	$	145.5		$	74.8		$	191.1		$	37.0
Income tax provision	$	31.6		$	12.8		$	21.5		$	6.1
Effective tax rate	21.7		%	17.1		%	11.3		%	16.5		%

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 and foreign tax credits, tax audit settlements, non-deductible compensation, cost sharing of stock-based compensation, and other transfer pricing adjustments.

The Company’s effective tax rate for the six months ended June 30, 2022 includes the net effect of the gain recognized on divestiture of the Company's silicon photonics business, one-time benefits from tax legislative changes, and excess tax benefits associated with stock-based compensation.

The Company’s effective tax rate for the six months ended June 30, 2021 reflected the loss on extinguishment of debt of $60.6 million and other restructuring charges of $40.9 million in the period.

As of June 30, 2022, the total amount of gross unrecognized tax benefits was $116.7 million.

The Company engages in continuous discussions and negotiations with tax authorities regarding tax matters in various jurisdictions. There is a greater than remote likelihood that the balance of the gross unrecognized tax benefits will decrease by up to $6.9 million within the next twelve months due to the completion of tax review cycles in various tax jurisdictions and lapses of applicable statutes of limitation.

The Company is currently under examination by the Internal Revenue Service and the India tax authorities for the 2017 through 2018 tax years and the 2012 through 2017 tax years, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Net Income per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Income per Share

Note 13. 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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	113.4	$	62.0	$	169.1	$	30.9
Denominator:
Weighted-average shares used to compute basic net income per share	321.0		324.5		321.1		325.4
Dilutive effect of employee stock awards	7.1		5.9		8.2		6.1
Weighted-average shares used to compute diluted net income per share	328.1		330.4		329.3		331.5
Net income per share:
Basic	$	0.35	$	0.19	$	0.53	$	0.09
Diluted	$	0.35	$	0.19	$	0.51	$	0.09

Anti-dilutive shares	2.9		0.6		1.2		1.8

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14. 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 15, Commitments and Contingencies, in Notes to Consolidated Financial Statements in Item 8 of Part II of the Form 10-K. 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 $2,823.4 million as of June 30, 2022. 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, individually or in the aggregate, 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	6 Months Ended
Subsequent Events	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events Dividend Declaration On July 26, 2022, the Company announced a cash dividend of $0.21 per share of common stock to be paid on September 22, 2022 to stockholders of record as of the close of business on September 1, 2022.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2021 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 six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022, 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, 2021 (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.
Equity Method Investments	The Company accounts for investments in companies over which it has the ability to exercise significant influence, but does not have control over the investee, under the equity method of accounting. The investment is initially measured at fair value and subsequently adjusted for any impairment, dividend received, plus or minus the Company's proportionate share of the equity method investee's income or loss. The Company records its interest in the net earnings or loss of its equity method investment along with adjustments for unrealized profits or losses on intra-entity transactions, within its Statements of Operations. Depending on the timing of such financial statements of the investee, there may be a lag between the timing of such financial statement and the Company's quarter-end date. For the Company's sole equity method investment, the Company's share of the investee's net earnings or loss is recorded two months in arrears. The Company records an impairment when factors indicate that the carrying amount of the investment might not be recoverable.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Accounting for Contract Assets and Contract Liabilities from Contracts with Customers: On January 1, 2022, the Company early adopted ASU No. 2021-08 (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if the contracts were originated by the acquirer. Upon adoption, the standard did not have a material impact on the Condensed Consolidated Financial Statements. Reference Rate Reform: In March 2020, the FASB issued ASU No. 2020-04 (Topic 848), Reference Rate Reform, 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. The standard became effective upon issuance and may be applied to any new or amended contracts, hedging relationships, and other transactions that reference LIBOR through December 31, 2022. The adoption did not have a material impact on the Condensed Consolidated Financial Statements.

Divestiture (Tables)

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table presents the carrying value of the major components of assets and liabilities derecognized as of April 4, 2022 (in millions):


	As of
	April 4, 2022
Assets:
Total current assets	$	1.0
Property and equipment, net	3.6
Deferred tax assets	3.9
Other long-term assets	1.1
Purchased intangible assets, net	49.0
Goodwill	28.9
Total assets held for sale	$	87.5
Liabilities:
Accounts payable	$	1.4
Other liabilities	1.1
Total liabilities held for sale	$	2.5

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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+ Details

Cash Equivalents and Investments (Tables)

6 Months Ended

Jun. 30, 2022

Cash Equivalents and Investments [Abstract]

Schedule of 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 June 30, 2022 and December 31, 2021 (in millions):


	As of June 30, 2022								As of December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Fixed income securities:
Asset-backed and mortgage-backed securities	$	81.5	$	—	$	(1.4)	$	80.1	$	139.1	$	—	$	(0.5)	$	138.6
Certificates of deposit	11.5		—		—		11.5		5.0		—		—		5.0
Commercial paper	28.5		—		—		28.5		75.8		—		—		75.8
Corporate debt securities	386.7		—		(8.3)		378.4		443.3		0.7		(1.5)		442.5
Foreign government debt securities	12.8		—		(0.3)		12.5		12.8		—		(0.1)		12.7
Time deposits	106.7		—		—		106.7		35.2		—		—		35.2
U.S. government agency securities	26.5		—		(0.6)		25.9		26.8		—		(0.1)		26.7
U.S. government securities	30.2		—		(0.3)		29.9		73.5		0.1		—		73.6
Total fixed income securities	684.4		—		(10.9)		673.5		811.5		0.8		(2.2)		810.1
Privately-held debt and redeemable preferred stock securities	15.1		37.4		—		52.5		9.6		37.4		—		47.0
Total available-for-sale debt securities	$	699.5	$	37.4	$	(10.9)	$	726.0	$	821.1	$	38.2	$	(2.2)	$	857.1

Reported as:
Cash equivalents	$	116.2	$	—	$	—	$	116.2	$	47.2	$	—	$	—	$	47.2
Short-term investments	290.2		—		(2.4)		287.8		306.8		0.7		(0.1)		307.4
Long-term investments	278.0		—		(8.5)		269.5		457.5		0.1		(2.1)		455.5
Other long-term assets	15.1		37.4		—		52.5		9.6		37.4		—		47.0
Total	$	699.5	$	37.4	$	(10.9)	$	726.0	$	821.1	$	38.2	$	(2.2)	$	857.1

Schedule of Maturities of Fixed Income Securities

The following table presents the contractual maturities of the Company's total fixed income securities as of June 30, 2022 (in millions):


	Amortized Cost		Estimated Fair Value
Due in less than one year	$	406.4	$	404.0
Due between one and five years	278.0		269.5
Total	$	684.4	$	673.5

Schedule of Investments in Equity Securities

The following table presents the Company's investments in equity securities as of June 30, 2022 and December 31, 2021 (in millions):


	As of
	June 30, 2022		December 31, 2021
Equity investments with readily determinable fair value:
Money market funds	$	224.9	$	382.0
Mutual funds	27.1		33.4
Publicly-traded equity securities	6.5		8.1
Equity investments without readily determinable fair value	163.4		150.1
Equity investment under the equity method of accounting	40.3		—
Total equity securities	$	462.2	$	573.6

Reported as:
Cash equivalents	$	214.9	$	371.5
Short-term investments	6.5		8.1
Prepaid expenses and other current assets	12.3		15.1
Other long-term assets	228.5		178.9
Total	$	462.2	$	573.6

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 June 30, 2022 and December 31, 2021 (in millions):


	As of
	June 30, 2022		December 31, 2021
Cash and cash equivalents	$	721.8	$	922.5
Restricted cash included in Prepaid expenses and other current assets	15.8		17.2
Restricted cash included in Other long-term assets	3.0		3.0
Total cash, cash equivalents, and restricted cash	$	740.6	$	942.7

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of 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 as of June 30, 2022 and December 31, 2021 (in millions):


	Fair Value Measurements at June 30, 2022								Fair Value Measurements at December 31, 2021
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total
Assets:
Available-for-sale debt securities:
Asset-backed and mortgage-backed securities	$	—	$	80.1	$	—	$	80.1	$	—	$	138.6	$	—	$	138.6
Certificates of deposit	—		11.5		—		11.5		—		5.0		—		5.0
Commercial paper	—		28.5		—		28.5		—		75.8		—		75.8
Corporate debt securities	—		378.4		—		378.4		—		442.5		—		442.5
Foreign government debt securities	—		12.5		—		12.5		—		12.7		—		12.7
Time deposits	—		106.7		—		106.7		—		35.2		—		35.2
U.S. government agency securities	—		25.9		—		25.9		—		26.7		—		26.7
U.S. government securities	13.6		16.3		—		29.9		42.3		31.3		—		73.6
Privately-held debt and redeemable preferred stock securities	—		—		52.5		52.5		—		—		47.0		47.0
Total available-for-sale debt securities	13.6		659.9		52.5		726.0		42.3		767.8		47.0		857.1
Equity securities:
Money market funds	224.9		—		—		224.9		382.0		—		—		382.0
Mutual funds	27.1		—		—		27.1		33.4		—		—		33.4
Publicly-traded equity securities	6.5		—		—		6.5		8.1		—		—		8.1
Total equity securities	258.5		—		—		258.5		423.5		—		—		423.5
Derivative assets:
Foreign exchange contracts	—		5.1		—		5.1		—		9.2		—		9.2
Interest rate contracts	—		107.4		—		107.4		—		47.1		—		47.1
Total derivative assets	—		112.5		—		112.5		—		56.3		—		56.3
Total assets measured at fair value on a recurring basis	$	272.1	$	772.4	$	52.5	$	1,097.0	$	465.8	$	824.1	$	47.0	$	1,336.9
Liabilities:
Derivative liabilities:
Foreign exchange contracts	$	—	$	(43.9)	$	—	$	(43.9)	$	—	$	(24.0)	$	—	$	(24.0)
Interest rate contracts	—		(62.2)		—		(62.2)		—		(2.5)		—		(2.5)
Total derivative liabilities	—		(106.1)		—		(106.1)		—		(26.5)		—		(26.5)
Total liabilities measured at fair value on a recurring basis	$	—	$	(106.1)	$	—	$	(106.1)	$	—	$	(26.5)	$	—	$	(26.5)


	Fair Value Measurements at June 30, 2022								Fair Value Measurements at December 31, 2021
	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total		Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Other Observable Remaining Inputs (Level 2)		Significant Other Unobservable Remaining Inputs (Level 3)		Total

Total assets, reported as:
Cash equivalents	$	214.9	$	116.2	$	—	$	331.1	$	371.6	$	47.2	$	—	$	418.8
Short-term investments	15.2		279.1		—		294.3		41.5		274.0		—		315.5
Long-term investments	4.8		264.7		—		269.5		8.8		446.7		—		455.5
Prepaid expenses and other current assets	12.4		1.1		—		13.5		15.1		8.8		—		23.9
Other long-term assets	24.8		111.3		52.5		188.6		28.8		47.4		47.0		123.2
Total assets measured at fair value	$	272.1	$	772.4	$	52.5	$	1,097.0	$	465.8	$	824.1	$	47.0	$	1,336.9

Total liabilities, reported as:
Other accrued liabilities	$	—	$	(29.0)	$	—	$	(29.0)	$	—	$	(14.9)	$	—	$	(14.9)
Other long-term liabilities	—		(77.1)		—		(77.1)		—		(11.6)		—		(11.6)
Total liabilities measured at fair value on a recurring basis	$	—	$	(106.1)	$	—	$	(106.1)	$	—	$	(26.5)	$	—	$	(26.5)

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The notional amount of the Company's derivative instruments is summarized as follows (in millions):


	As of
	June 30, 2022		December 31, 2021
Designated derivatives:
Cash flow hedges:
Foreign currency contracts	$	1,009.4	$	873.9
Interest rate lock contracts	650.0		650.0
Fair value hedges:
Interest rate swap contracts	600.0		600.0
Total designated derivatives	2,259.4		2,123.9

Non-designated derivatives	148.4		144.6
Total	$	2,407.8	$	2,268.5

Schedule of Derivative Assets at Fair Value

The fair value of derivative instruments on the Condensed Consolidated Balance Sheets was as follows:


		As of
	Balance Sheet Classification	June 30, 2022		December 31, 2021
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	3.7	$	8.7
Foreign currency contracts	Other long-term assets	1.1		0.4
Interest rate lock contracts	Other long-term assets	107.4		45.0
Interest rate swap contracts	Other long-term assets	—		2.1
Total derivatives designated as hedging instruments		$	112.2	$	56.2
Derivatives not designated as hedging instruments	Other current assets	0.3		0.1
Total derivative assets		$	112.5	$	56.3
Derivative liabilities:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other accrued liabilities	$	28.8	$	14.8
Foreign currency contracts	Other long-term liabilities	14.9		9.1

Interest rate swap contracts	Other long-term liabilities	62.2		2.5
Total derivatives designated as hedging instruments		$	105.9	$	26.4
Derivatives not designated as hedging instruments	Other accrued liabilities	0.2		0.1
Total derivative liabilities		$	106.1	$	26.5

Schedule of Derivative Liabilities at Fair Value

The fair value of derivative instruments on the Condensed Consolidated Balance Sheets was as follows:


		As of
	Balance Sheet Classification	June 30, 2022		December 31, 2021
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	3.7	$	8.7
Foreign currency contracts	Other long-term assets	1.1		0.4
Interest rate lock contracts	Other long-term assets	107.4		45.0
Interest rate swap contracts	Other long-term assets	—		2.1
Total derivatives designated as hedging instruments		$	112.2	$	56.2
Derivatives not designated as hedging instruments	Other current assets	0.3		0.1
Total derivative assets		$	112.5	$	56.3
Derivative liabilities:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other accrued liabilities	$	28.8	$	14.8
Foreign currency contracts	Other long-term liabilities	14.9		9.1

Interest rate swap contracts	Other long-term liabilities	62.2		2.5
Total derivatives designated as hedging instruments		$	105.9	$	26.4
Derivatives not designated as hedging instruments	Other accrued liabilities	0.2		0.1
Total derivative liabilities		$	106.1	$	26.5

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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+ Details

Other Financial Information (Tables)

6 Months Ended

Jun. 30, 2022

Other Financial Information [Abstract]

Schedule of Inventories

Total inventory consisted of the following (in millions):


	As of
	June 30, 2022		December 31, 2021
Production and service materials	$	333.2	$	208.6
Finished goods	77.1		75.6
Total inventory	$	410.3	$	284.2

Reported as:
Inventory	$	394.9	$	272.6
Other long-term assets	15.4		11.6
Total inventory	$	410.3	$	284.2

Schedule of Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in millions):


	As of
	June 30, 2022		December 31, 2021
Contract manufacturer deposit	$	359.4	$	223.8
Prepaid expenses	115.0		104.3
Other current assets	138.2		123.5
Total prepaid expenses and other current assets	$	612.6	$	451.6

Schedule of Warranties

Changes during the six months ended June 30, 2022 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, 2021	$	33.0
Provisions made during the period	15.3

Actual costs incurred during the period	(17.1)

Balance as of June 30, 2022	$	31.2

Schedule of Performance Obligation

The following table summarizes the breakdown of RPO as of June 30, 2022 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	$	117.3	$	98.9	$	14.8	$	3.6
Service	1,366.4		859.7		397.3		109.4
Total	$	1,483.7	$	958.6	$	412.1	$	113.0

Schedule of Other Expense

Other expense, net, consisted of the following (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Interest income	$	3.3	$	3.4	$	5.9	$	7.5
Interest expense	(13.4)		(12.6)		(25.9)		(26.3)
Gain (loss) on investments, net	0.2		(1.2)		(3.1)		2.6
Other	1.8		(0.5)		2.1		0.3
Other expense, net	$	(8.1)	$	(10.9)	$	(21.0)	$	(15.9)

Restructuring Charges (Tables)

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Liabilities

The following table provides a summary of changes in the restructuring liabilities (in millions):


	December 31, 2021		Charges		Cash Payments		June 30, 2022
Severance	$	1.4	$	3.8	$	(3.3)	$	1.9
Contract terminations and other	10.9		5.5		(9.1)		7.3
Total	$	12.3	$	9.3	$	(12.4)	$	9.2

Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Total Debt

The following table summarizes the Company's total debt (in millions, except percentages):


				As of
	Maturity Date	Effective Interest Rates		June 30, 2022		December 31, 2021
Senior Notes ("Notes"):
1.200% fixed-rate notes ("2025 Notes")	December 2025	1.37	%	$	400.0	$	400.0
3.750% fixed-rate notes ("2029 Notes")	August 2029	3.86	%	500.0		500.0
2.000% fixed-rate notes ("2030 Notes")	December 2030	2.12	%	400.0		400.0
5.950% fixed-rate notes ("2041 Notes")	March 2041	6.03	%	400.0		400.0
Total Notes				1,700.0		1,700.0
Unaccreted discount and debt issuance costs				(12.0)		(12.9)
Hedge accounting fair value adjustments(*)				(62.2)		(0.3)
Total				$	1,625.8	$	1,686.8

________________________________

(*) Represents the fair value adjustments for interest rate swaps with an aggregate notional amount of $600.0 million. These interest rate swaps convert the fixed interest rates of certain Notes to floating interest rates and are designated as fair value hedges. See Note 5, Derivative Instruments, for a discussion of the Company's interest rate swaps.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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+ Details

Equity (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Dividends Paid and Stock Repurchases and Retirements Under Stock Repurchase Program

The following table summarizes dividends paid and stock repurchases under the Company's stock repurchase program (in millions, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Dividends:
Per share	$	0.21	$	0.20	$	0.42	$	0.40
Amount	$	67.3	$	64.7	$	134.8	$	129.9

Repurchased under the 2018 Stock Repurchase Program:
Shares	3.1		4.2		6.3		9.3
Average price per share	$	32.16	$	26.34	$	33.38	$	25.30
Amount	$	100.0	$	110.0	$	212.2	$	235.0

Schedule of Accumulated Other Comprehensive Loss, Net of Taxes

The components of accumulated other comprehensive loss, net of related taxes, for the six months ended June 30, 2022 were as follows (in millions):


	Unrealized Gains/Losses on Available-for- Sale Debt Securities		Unrealized Gains/Losses on Cash Flow Hedges		Foreign Currency Translation Adjustments		Total
Balance as of December 31, 2021	$	27.9	$	19.0	$	(49.0)	$	(2.1)
Other comprehensive (loss) income before reclassifications	(7.4)		19.8		(14.7)		(2.3)
Amount reclassified from accumulated other comprehensive loss	0.2		4.1		—		4.3
Other comprehensive (loss) income, net	(7.2)		23.9		(14.7)		2.0
Balance as of June 30, 2022	$	20.7	$	42.9	$	(63.7)	$	(0.1)

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Share Activity

The Company’s RSU, RSA and PSA activities and related information as of and for the six months ended June 30, 2022 were as follows (in millions, except per share amounts and years):


	Outstanding RSUs, RSAs and PSAs
	Number of Shares	Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value
Balance as of December 31, 2021	22.2	$	24.55
Granted(*)	3.1	34.15

Vested	(3.7)	24.39
Canceled	(2.0)	25.45
Balance as of June 30, 2022	19.6	$	26.01	1.2	$	557.8

________________________________

(*) Includes 1.5 million service-based, 1.2 million performance-based, and 0.4 million market-based awards. 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):


	Six Months Ended June 30,
	2022		2021
Shares purchased	1.4		1.4
Average exercise price per share	$	20.07	$	19.75

Schedule of Employee Service Share-Based Compensation, Allocation of Recognized Period Costs

Share-based compensation expense associated with stock options, RSUs, RSAs, PSAs, and ESPP purchase rights was recorded in the following cost and expense categories in the Condensed Consolidated Statements of Operations (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenues - Product	$	1.2	$	1.0	$	2.6	$	2.3
Cost of revenues - Service	3.7		3.9		8.2		8.4
Research and development	19.3		20.1		35.9		44.3
Sales and marketing	12.4		14.9		24.9		31.4
General and administrative	10.6		10.6		20.8		21.6
Total	$	47.2	$	50.5	$	92.4	$	108.0

Schedule 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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock options	$	1.6	$	2.5	$	3.1	$	5.2
RSUs, RSAs, and PSAs	40.9		44.6		79.4		94.5
ESPP purchase rights	4.7		3.4		9.9		8.3
Total	$	47.2	$	50.5	$	92.4	$	108.0

Segments (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Financial Information for Each Segment

The following table presents net revenues by customer solution (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Customer Solutions:
Automated WAN Solutions	$	462.9	$	396.1	$	853.6	$	782.5
Cloud-Ready Data Center	200.9		201.9		389.7		359.3
AI-Driven Enterprise	227.3		195.1		441.3		356.3
Hardware Maintenance and Professional Services	378.5		379.2		753.2		748.6
Total	$	1,269.6	$	1,172.3	$	2,437.8	$	2,246.7

The following table presents net revenues by customer vertical (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cloud	$	331.0	$	320.6	$	638.0	$	591.3
Service Provider	470.8		443.7		898.8		881.9
Enterprise	467.8		408.0		901.0		773.5
Total	$	1,269.6	$	1,172.3	$	2,437.8	$	2,246.7

Schedule of Net Revenues by Geographic Region

The Company attributes revenues to a geographic region based on the customer’s shipping address. The following table presents net revenues by geographic region (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Americas:
United States	$	691.0	$	597.4	$	1,294.6	$	1,120.5
Other	57.6		55.3		109.0		115.2
Total Americas	748.6		652.7		1,403.6		1,235.7
Europe, Middle East, and Africa	337.2		323.9		671.1		635.0
Asia Pacific	183.8		195.7		363.1		376.0
Total	$	1,269.6	$	1,172.3	$	2,437.8	$	2,246.7

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Income before income taxes	$	145.5		$	74.8		$	191.1		$	37.0
Income tax provision	$	31.6		$	12.8		$	21.5		$	6.1
Effective tax rate	21.7		%	17.1		%	11.3		%	16.5		%

Net Income per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income (Loss) Per Share

The Company computed basic and diluted net income per share as follows (in millions, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	113.4	$	62.0	$	169.1	$	30.9
Denominator:
Weighted-average shares used to compute basic net income per share	321.0		324.5		321.1		325.4
Dilutive effect of employee stock awards	7.1		5.9		8.2		6.1
Weighted-average shares used to compute diluted net income per share	328.1		330.4		329.3		331.5
Net income per share:
Basic	$	0.35	$	0.19	$	0.53	$	0.09
Diluted	$	0.35	$	0.19	$	0.51	$	0.09

Anti-dilutive shares	2.9		0.6		1.2		1.8

Basis of Presentation and Summary of Significant Accounting Policies (Details)	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity method investment, recording period lag	2 months

Divestiture - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
Divestiture - Narrative (Details) - USD ($)	Apr. 04, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on divestiture		$ 45,800,000	$ 0	$ 45,800,000	$ 0
Equity investment under the equity method of accounting		$ 40,300,000	$ 0	$ 40,300,000	$ 0
Silicon Photonics Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage	25.00%
Equity investment under the equity method of accounting	$ 40,800,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Silicon Photonics Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration	90,000,000
Maximum exercisable amount	30,000,000
Fair value of redemption	10,800,000
Gain on divestiture	45,800,000
Retained investment	$ 19,500,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Silicon Photonics Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Remaining ownership percent divested	75.00%

Divestiture - Assets and Liabilities Held for Sale (Details) - Silicon Photonics Business - Disposal Group, Held-for-sale, Not Discontinued Operations $ in Millions	Apr. 04, 2022 USD ($)
Assets:
Total current assets	$ 1.0
Property and equipment, net	3.6
Deferred tax assets	3.9
Other long-term assets	1.1
Purchased intangible assets, net	49.0
Goodwill	28.9
Total assets held for sale	87.5
Liabilities:
Accounts payable	1.4
Other liabilities	1.1
Total current liabilities	$ 2.5

Cash Equivalents and Investments - Available-For-Sale (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Available-for-sale debt securities:
Amortized Cost	$ 699.5	$ 821.1
Gross Unrealized Gains	37.4	38.2
Gross Unrealized Losses	(10.9)	(2.2)
Estimated Fair Value	726.0	857.1
Cash equivalents
Available-for-sale debt securities:
Amortized Cost	116.2	47.2
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	0.0	0.0
Estimated Fair Value	116.2	47.2
Short-term investments
Available-for-sale debt securities:
Amortized Cost	290.2	306.8
Gross Unrealized Gains	0.0	0.7
Gross Unrealized Losses	(2.4)	(0.1)
Estimated Fair Value	287.8	307.4
Long-term investments
Available-for-sale debt securities:
Amortized Cost	278.0	457.5
Gross Unrealized Gains	0.0	0.1
Gross Unrealized Losses	(8.5)	(2.1)
Estimated Fair Value	269.5	455.5
Other long-term assets
Available-for-sale debt securities:
Amortized Cost	15.1	9.6
Gross Unrealized Gains	37.4	37.4
Gross Unrealized Losses	0.0	0.0
Estimated Fair Value	52.5	47.0
Total fixed income securities
Available-for-sale debt securities:
Amortized Cost	684.4	811.5
Gross Unrealized Gains	0.0	0.8
Gross Unrealized Losses	(10.9)	(2.2)
Estimated Fair Value	673.5	810.1
Asset-backed and mortgage-backed securities
Available-for-sale debt securities:
Amortized Cost	81.5	139.1
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	(1.4)	(0.5)
Estimated Fair Value	80.1	138.6
Certificates of deposit
Available-for-sale debt securities:
Amortized Cost	11.5	5.0
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	0.0	0.0
Estimated Fair Value	11.5	5.0
Commercial paper
Available-for-sale debt securities:
Amortized Cost	28.5	75.8
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	0.0	0.0
Estimated Fair Value	28.5	75.8
Corporate debt securities
Available-for-sale debt securities:
Amortized Cost	386.7	443.3
Gross Unrealized Gains	0.0	0.7
Gross Unrealized Losses	(8.3)	(1.5)
Estimated Fair Value	378.4	442.5
Foreign government debt securities
Available-for-sale debt securities:
Amortized Cost	12.8	12.8
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	(0.3)	(0.1)
Estimated Fair Value	12.5	12.7
Time deposits
Available-for-sale debt securities:
Amortized Cost	106.7	35.2
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	0.0	0.0
Estimated Fair Value	106.7	35.2
U.S. government agency securities
Available-for-sale debt securities:
Amortized Cost	26.5	26.8
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	(0.6)	(0.1)
Estimated Fair Value	25.9	26.7
U.S. government securities
Available-for-sale debt securities:
Amortized Cost	30.2	73.5
Gross Unrealized Gains	0.0	0.1
Gross Unrealized Losses	(0.3)	0.0
Estimated Fair Value	29.9	73.6
Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Amortized Cost	15.1	9.6
Gross Unrealized Gains	37.4	37.4
Gross Unrealized Losses	0.0	0.0
Estimated Fair Value	$ 52.5	$ 47.0

Cash Equivalents and Investments - Maturities of Fixed Income Securities (Details) - Total fixed income securities $ in Millions	Jun. 30, 2022 USD ($)
Amortized Cost
Due in less than one year	$ 406.4
Due between one and five years	278.0
Amortized Cost	684.4
Estimated Fair Value
Due in less than one year	404.0
Due between one and five years	269.5
Total	$ 673.5

Cash Equivalents and Investments - Narrative (Details)	3 Months Ended		6 Months Ended
Cash Equivalents and Investments - Narrative (Details)	Jun. 30, 2022 USD ($) investment	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) investment	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Restricted Cash and Cash Equivalents Items [Line Items]
Gross unrealized losses	$ 10,900,000		$ 10,900,000		$ 2,200,000
Total investments in unrealized loss position \| investment	469		469
Unrealized loss position, less than 12 months, accumulated loss	$ 9,900,000		$ 9,900,000
Unrealized loss position, 12 months or longer, accumulated loss	1,000,000		1,000,000
Equity investments, unrealized gains	0			$ 0
Equity investments, unrealized losses	0			0
Loss from equity method investment, net of tax	500,000	$ 0	500,000	0
Restricted cash and investments	56,000,000		56,000,000
Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and investments	28,100,000		28,100,000
Other long-term assets
Restricted Cash and Cash Equivalents Items [Line Items]
Gross unrealized losses	0		0		$ 0
Restricted cash and investments	$ 27,900,000		27,900,000
Debt Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Allowance for credit losses			$ 0	$ 0

Cash Equivalents and Investments - Investments in Equity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments without readily determinable fair value	$ 163.4	$ 150.1
Equity investment under the equity method of accounting	40.3	0.0
Total equity securities	462.2	573.6
Cash equivalents
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	214.9	371.5
Short-term investments
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	6.5	8.1
Prepaid expenses and other current assets
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	12.3	15.1
Other long-term assets
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Total equity securities	228.5	178.9
Money market funds
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments with readily determinable fair value:	224.9	382.0
Mutual funds
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments with readily determinable fair value:	27.1	33.4
Publicly-traded equity securities
Debt Securities, Trading, and Equity Securities, FV-NI [Line Items]
Equity investments with readily determinable fair value:	$ 6.5	$ 8.1

Cash Equivalents and Investments - Restricted Cash and Investments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 721.8	$ 922.5
Total cash, cash equivalents, and restricted cash	740.6	942.7	$ 1,009.4	$ 1,383.0
Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in Prepaid expenses and other current and other long-term assets	15.8	17.2
Other long-term assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in Prepaid expenses and other current and other long-term assets	$ 3.0	$ 3.0

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivative assets:
Derivative assets:	$ 112.5	$ 56.3
Money market funds
Equity securities:
Equity securities	224.9	382.0
Publicly-traded equity securities
Equity securities:
Equity securities	6.5	8.1
Fair Value, Measurements, Recurring
Available-for-sale debt securities:
Available-for-sale debt securities	726.0	857.1
Equity securities:
Equity securities	258.5	423.5
Derivative assets:
Derivative assets:	112.5	56.3
Total assets measured at fair value on a recurring basis	1,097.0	1,336.9
Liabilities:
Derivative liabilities:	(106.1)	(26.5)
Total liabilities measured at fair value on a recurring basis	(106.1)	(26.5)
Fair Value, Measurements, Recurring \| Cash equivalents
Derivative assets:
Total assets measured at fair value on a recurring basis	331.1	418.8
Fair Value, Measurements, Recurring \| Short-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	294.3	315.5
Fair Value, Measurements, Recurring \| Long-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	269.5	455.5
Fair Value, Measurements, Recurring \| Prepaid expenses and other current assets
Derivative assets:
Total assets measured at fair value on a recurring basis	13.5	23.9
Fair Value, Measurements, Recurring \| Other long-term assets
Derivative assets:
Total assets measured at fair value on a recurring basis	188.6	123.2
Fair Value, Measurements, Recurring \| Other accrued liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	(29.0)	(14.9)
Fair Value, Measurements, Recurring \| Other long-term liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	(77.1)	(11.6)
Fair Value, Measurements, Recurring \| Foreign exchange contracts
Derivative assets:
Derivative assets:	5.1	9.2
Liabilities:
Derivative liabilities:	(43.9)	(24.0)
Fair Value, Measurements, Recurring \| Interest rate contracts
Derivative assets:
Derivative assets:	107.4	47.1
Liabilities:
Derivative liabilities:	(62.2)	(2.5)
Fair Value, Measurements, Recurring \| Asset-backed and mortgage-backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	80.1	138.6
Fair Value, Measurements, Recurring \| Certificates of deposit
Available-for-sale debt securities:
Available-for-sale debt securities	11.5	5.0
Fair Value, Measurements, Recurring \| Commercial paper
Available-for-sale debt securities:
Available-for-sale debt securities	28.5	75.8
Fair Value, Measurements, Recurring \| Corporate debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	378.4	442.5
Fair Value, Measurements, Recurring \| Foreign government debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	12.5	12.7
Fair Value, Measurements, Recurring \| Time deposits
Available-for-sale debt securities:
Available-for-sale debt securities	106.7	35.2
Fair Value, Measurements, Recurring \| U.S. government agency securities
Available-for-sale debt securities:
Available-for-sale debt securities	25.9	26.7
Fair Value, Measurements, Recurring \| U.S. government securities
Available-for-sale debt securities:
Available-for-sale debt securities	29.9	73.6
Fair Value, Measurements, Recurring \| Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Available-for-sale debt securities	52.5	47.0
Fair Value, Measurements, Recurring \| Money market funds
Equity securities:
Equity securities	224.9	382.0
Fair Value, Measurements, Recurring \| Mutual funds
Equity securities:
Equity securities	27.1	33.4
Fair Value, Measurements, Recurring \| Publicly-traded equity securities
Equity securities:
Equity securities	6.5	8.1
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Available-for-sale debt securities:
Available-for-sale debt securities	13.6	42.3
Equity securities:
Equity securities	258.5	423.5
Derivative assets:
Derivative assets:	0.0	0.0
Total assets measured at fair value on a recurring basis	272.1	465.8
Liabilities:
Derivative liabilities:	0.0	0.0
Total liabilities measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Cash equivalents
Derivative assets:
Total assets measured at fair value on a recurring basis	214.9	371.6
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Short-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	15.2	41.5
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Long-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	4.8	8.8
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Prepaid expenses and other current assets
Derivative assets:
Total assets measured at fair value on a recurring basis	12.4	15.1
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Other long-term assets
Derivative assets:
Total assets measured at fair value on a recurring basis	24.8	28.8
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Other accrued liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Other long-term liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	0.0	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	0.0
Liabilities:
Derivative liabilities:	0.0	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	0.0
Liabilities:
Derivative liabilities:	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Asset-backed and mortgage-backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Certificates of deposit
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Commercial paper
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Corporate debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Foreign government debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Time deposits
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| U.S. government agency securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| U.S. government securities
Available-for-sale debt securities:
Available-for-sale debt securities	13.6	42.3
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Money market funds
Equity securities:
Equity securities	224.9	382.0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Mutual funds
Equity securities:
Equity securities	27.1	33.4
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets For Identical Assets (Level 1) \| Publicly-traded equity securities
Equity securities:
Equity securities	6.5	8.1
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2)
Available-for-sale debt securities:
Available-for-sale debt securities	659.9	767.8
Equity securities:
Equity securities	0.0	0.0
Derivative assets:
Derivative assets:	112.5	56.3
Total assets measured at fair value on a recurring basis	772.4	824.1
Liabilities:
Derivative liabilities:	(106.1)	(26.5)
Total liabilities measured at fair value on a recurring basis	(106.1)	(26.5)
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Cash equivalents
Derivative assets:
Total assets measured at fair value on a recurring basis	116.2	47.2
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Short-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	279.1	274.0
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Long-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	264.7	446.7
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Prepaid expenses and other current assets
Derivative assets:
Total assets measured at fair value on a recurring basis	1.1	8.8
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Other long-term assets
Derivative assets:
Total assets measured at fair value on a recurring basis	111.3	47.4
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Other accrued liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	(29.0)	(14.9)
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Other long-term liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	(77.1)	(11.6)
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Foreign exchange contracts
Derivative assets:
Derivative assets:	5.1	9.2
Liabilities:
Derivative liabilities:	(43.9)	(24.0)
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Interest rate contracts
Derivative assets:
Derivative assets:	107.4	47.1
Liabilities:
Derivative liabilities:	(62.2)	(2.5)
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Asset-backed and mortgage-backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	80.1	138.6
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Certificates of deposit
Available-for-sale debt securities:
Available-for-sale debt securities	11.5	5.0
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Commercial paper
Available-for-sale debt securities:
Available-for-sale debt securities	28.5	75.8
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Corporate debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	378.4	442.5
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Foreign government debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	12.5	12.7
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Time deposits
Available-for-sale debt securities:
Available-for-sale debt securities	106.7	35.2
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| U.S. government agency securities
Available-for-sale debt securities:
Available-for-sale debt securities	25.9	26.7
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| U.S. government securities
Available-for-sale debt securities:
Available-for-sale debt securities	16.3	31.3
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Money market funds
Equity securities:
Equity securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Mutual funds
Equity securities:
Equity securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Observable Remaining Inputs (Level 2) \| Publicly-traded equity securities
Equity securities:
Equity securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3)
Available-for-sale debt securities:
Available-for-sale debt securities	52.5	47.0
Equity securities:
Equity securities	0.0	0.0
Derivative assets:
Derivative assets:	0.0	0.0
Total assets measured at fair value on a recurring basis	52.5	47.0
Liabilities:
Derivative liabilities:	0.0	0.0
Total liabilities measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Cash equivalents
Derivative assets:
Total assets measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Short-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Long-term investments
Derivative assets:
Total assets measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Prepaid expenses and other current assets
Derivative assets:
Total assets measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Other long-term assets
Derivative assets:
Total assets measured at fair value on a recurring basis	52.5	47.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Other accrued liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Other long-term liabilities
Liabilities:
Total liabilities measured at fair value on a recurring basis	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Foreign exchange contracts
Derivative assets:
Derivative assets:	0.0	0.0
Liabilities:
Derivative liabilities:	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Interest rate contracts
Derivative assets:
Derivative assets:	0.0	0.0
Liabilities:
Derivative liabilities:	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Asset-backed and mortgage-backed securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Certificates of deposit
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Commercial paper
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Corporate debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Foreign government debt securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Time deposits
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| U.S. government agency securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| U.S. government securities
Available-for-sale debt securities:
Available-for-sale debt securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Privately-held debt and redeemable preferred stock securities
Available-for-sale debt securities:
Available-for-sale debt securities	52.5	47.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Money market funds
Equity securities:
Equity securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Mutual funds
Equity securities:
Equity securities	0.0	0.0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Remaining Inputs (Level 3) \| Publicly-traded equity securities
Equity securities:
Equity securities	$ 0.0	$ 0.0

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
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
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial and nonfinancial liabilities, fair value disclosure	106,100,000	106,100,000	$ 26,500,000
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	1,523,800,000	1,523,800,000	1,845,600,000
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	106,100,000	106,100,000	$ 26,500,000
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

Derivative Instruments - Notional Amount (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Apr. 30, 2021	Dec. 31, 2019
Derivative [Line Items]
Notional amount of derivatives	$ 2,407,800,000	$ 2,268,500,000
Designated derivatives
Derivative [Line Items]
Notional amount of derivatives	2,259,400,000	2,123,900,000
Non-designated derivatives
Derivative [Line Items]
Notional amount of derivatives	148,400,000	144,600,000
Foreign currency contracts \| Cash flow hedges \| Designated derivatives
Derivative [Line Items]
Notional amount of derivatives	1,009,400,000	873,900,000
Interest rate lock contracts \| Cash flow hedges \| Designated derivatives
Derivative [Line Items]
Notional amount of derivatives	650,000,000.0	650,000,000.0	$ 300,000,000	$ 300,000,000
Interest rate swap contracts \| Fair value hedges
Derivative [Line Items]
Notional amount of derivatives	600,000,000
Interest rate swap contracts \| Fair value hedges \| Designated derivatives
Derivative [Line Items]
Notional amount of derivatives	$ 600,000,000.0	$ 600,000,000.0

Derivative Instruments - Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative assets:	$ 112.5	$ 56.3
Derivative liabilities:	106.1	26.5
Designated derivatives
Derivative [Line Items]
Derivative assets:	112.2	56.2
Derivative liabilities:	105.9	26.4
Designated derivatives \| Other current assets \| Foreign currency contracts
Derivative [Line Items]
Derivative assets:	3.7	8.7
Designated derivatives \| Other long-term assets \| Foreign currency contracts
Derivative [Line Items]
Derivative assets:	1.1	0.4
Designated derivatives \| Other long-term assets \| Interest rate lock contracts
Derivative [Line Items]
Derivative assets:	107.4	45.0
Designated derivatives \| Other long-term assets \| Interest rate swap contracts
Derivative [Line Items]
Derivative assets:	0.0	2.1
Designated derivatives \| Other accrued liabilities \| Foreign currency contracts
Derivative [Line Items]
Derivative liabilities:	28.8	14.8
Designated derivatives \| Other long-term liabilities \| Foreign currency contracts
Derivative [Line Items]
Derivative liabilities:	14.9	9.1
Designated derivatives \| Other long-term liabilities \| Interest rate swap contracts
Derivative [Line Items]
Derivative liabilities:	62.2	2.5
Derivatives not designated as hedging instruments \| Other current assets
Derivative [Line Items]
Derivative assets:	0.3	0.1
Derivatives not designated as hedging instruments \| Other accrued liabilities
Derivative [Line Items]
Derivative liabilities:	$ 0.2	$ 0.1

Derivative Instruments - Narrative (Details) - USD ($)			3 Months Ended		6 Months Ended
Derivative Instruments - Narrative (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Apr. 30, 2021	Dec. 31, 2019
Derivatives, Notional Amount [Line Items]
Derivative liability fair value gross liability period decrease		$ 17,500,000
Derivative asset, fair value, gross asset, period decrease	$ 61,700,000
Notional amount of derivatives	2,407,800,000	2,268,500,000	$ 2,407,800,000		$ 2,407,800,000
Foreign currency contracts
Derivatives, Notional Amount [Line Items]
Foreign currency forward contracts, amounts reclassified out of AOCI			(3,500,000)	$ 8,100,000	$ (3,100,000)	$ 18,100,000
Foreign currency contracts \| Minimum
Derivatives, Notional Amount [Line Items]
Maturity of foreign currency derivatives					1 month
Foreign currency contracts \| Maximum
Derivatives, Notional Amount [Line Items]
Maturity of foreign currency derivatives					7 months
Designated derivatives
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	2,259,400,000	2,123,900,000	2,259,400,000		$ 2,259,400,000
Cash flow hedges
Derivatives, Notional Amount [Line Items]
Derivative instruments, gain recognized in other comprehensive income (loss), effective portion			7,200,000	$ (26,900,000)	$ 35,200,000	$ 26,100,000
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	(25,000,000)
Cash flow hedges \| Designated derivatives \| Interest rate lock contracts
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	650,000,000.0	650,000,000.0	650,000,000.0		$ 650,000,000.0		$ 300,000,000	$ 300,000,000
Derivative, expiration period					8 years
Cash flow hedges \| Designated derivatives \| Foreign currency contracts
Derivatives, Notional Amount [Line Items]
Notional amount of derivatives	$ 1,009,400,000	$ 873,900,000	$ 1,009,400,000		$ 1,009,400,000

Other Financial Information - Inventories, Net (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Schedule Of Inventory [Line Items]
Production and service materials	$ 333.2	$ 208.6
Finished goods	77.1	75.6
Total inventory	410.3	284.2
Inventory
Schedule Of Inventory [Line Items]
Total inventory	394.9	272.6
Other long-term assets
Schedule Of Inventory [Line Items]
Total inventory	$ 15.4	$ 11.6

Other Financial Information - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Other Financial Information [Abstract]
Contract manufacturer deposit	$ 359.4	$ 223.8
Prepaid expenses	115.0	104.3
Other current assets	138.2	123.5
Total prepaid expenses and other current assets	$ 612.6	$ 451.6

Other Financial Information - Warranties (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance as of December 31, 2021	$ 33.0
Provisions made during the period	15.3
Actual costs incurred during the period	(17.1)
Balance as of June 30, 2022	$ 31.2

Other Financial Information - Narrative (Details)	3 Months Ended	6 Months Ended
Other Financial Information - Narrative (Details)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Deferred commission	$ 31,700,000	$ 31,700,000
Amortization of deferred commission	42,100,000	89,200,000
Impairment loss	0	0
Product
Disaggregation of Revenue [Line Items]
Contract with customer, liability, revenue recognized	12,500,000	33,500,000
Service
Disaggregation of Revenue [Line Items]
Contract with customer, liability, revenue recognized	$ 227,200,000	$ 514,100,000

Other Financial Information - Revenue (Details) $ in Millions	Jun. 30, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 1,483.7
Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	117.3
Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	1,366.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 958.6
Revenue recognition expected by period, satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 \| Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 98.9
Revenue recognition expected by period, satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 \| Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 859.7
Revenue recognition expected by period, satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 412.1
Revenue recognition expected by period, satisfaction period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 \| Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 14.8
Revenue recognition expected by period, satisfaction period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 \| Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 397.3
Revenue recognition expected by period, satisfaction period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 113.0
Revenue recognition expected by period, satisfaction period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 \| Product
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 3.6
Revenue recognition expected by period, satisfaction period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 \| Service
Disaggregation of Revenue [Line Items]
Revenue recognition expected by period	$ 109.4
Revenue recognition expected by period, satisfaction period

Other Financial Information - Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Financial Information [Abstract]
Interest income	$ 3.3	$ 3.4	$ 5.9	$ 7.5
Interest expense	(13.4)	(12.6)	(25.9)	(26.3)
Gain (loss) on investments, net	0.2	(1.2)	(3.1)	2.6
Other	1.8	(0.5)	2.1	0.3
Other expense, net	$ (8.1)	$ (10.9)	$ (21.0)	$ (15.9)

Restructuring Charges - Changes to Restructuring Liabilities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring Reserve [Roll Forward]
Charges	$ 0.5	$ 21.6	$ 9.3	$ 40.9
2022 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance			12.3
Charges			9.3
Cash Payments			(12.4)
Restructuring liability, ending balance	9.2		9.2
Severance \| 2022 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance			1.4
Charges			3.8
Cash Payments			(3.3)
Restructuring liability, ending balance	1.9		1.9
Contract terminations and other \| 2022 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance			10.9
Charges			5.5
Cash Payments			(9.1)
Restructuring liability, ending balance	$ 7.3		$ 7.3

Debt - Schedule of Debt (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt	$ 1,700,000,000	$ 1,700,000,000
Unaccreted discount and debt issuance costs	(12,000,000.0)	(12,900,000)
Hedge accounting fair value adjustments	(62,200,000)	(300,000)
Total	1,625,800,000	1,686,800,000
Notional amount of derivatives	2,407,800,000	2,268,500,000
Interest rate swap contracts \| Fair value hedges
Debt Instrument [Line Items]
Notional amount of derivatives	$ 600,000,000
Senior notes \| 1.200% fixed-rate notes ("2025 Notes")
Debt Instrument [Line Items]
Stated interest rate	1.20%
Effective Interest Rates	1.37%
Long-term debt	$ 400,000,000.0	400,000,000.0
Senior notes \| 3.750% fixed-rate notes ("2029 Notes")
Debt Instrument [Line Items]
Stated interest rate	3.75%
Effective Interest Rates	3.86%
Long-term debt	$ 500,000,000.0	500,000,000.0
Senior notes \| 2.000% fixed-rate notes ("2030 Notes")
Debt Instrument [Line Items]
Stated interest rate	2.00%
Effective Interest Rates	2.12%
Long-term debt	$ 400,000,000.0	400,000,000.0
Senior notes \| 5.950% fixed-rate notes ("2041 Notes")
Debt Instrument [Line Items]
Stated interest rate	5.95%
Effective Interest Rates	6.03%
Long-term debt	$ 400,000,000.0	$ 400,000,000.0

Debt - Revolving Credit Facility (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Amount outstanding	$ 1,625,800,000	$ 1,686,800,000
Unsecured Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Borrowing capacity (up to)	500,000,000
Increase amount of borrowings, subject to lenders' approval (up to)	200,000,000
Amount outstanding	$ 0

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Equity - Summary of Dividends Paid and Stock Repurchases and Retirements (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Dividends:
Per share (in dollars per share)	$ 0.21	$ 0.20	$ 0.42	$ 0.40
Amount	$ 67.3	$ 64.7	$ 134.8	$ 129.9
Repurchased under the 2018 Stock Repurchase Program:
Amount	$ 100.0	$ 111.2	$ 226.3	$ 243.1
Stock Repurchase Program 2018
Repurchased under the 2018 Stock Repurchase Program:
Shares (in shares)	3.1	4.2	6.3	9.3
Average price (in dollars per share)	$ 32.16	$ 26.34	$ 33.38	$ 25.30
Amount	$ 100.0	$ 110.0	$ 212.2	$ 235.0

Equity - Cash Dividends on Shares of Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.21		$ 0.21
Cash dividends declared	$ 67.3	$ 64.7	$ 134.8	$ 129.9

Equity - Stock Repurchase Activities (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accelerated Share Repurchases [Line Items]
Common stock received, aggregate price	$ 100.0	$ 111.2	$ 226.3	$ 243.1
Stock Repurchase Program 2018
Accelerated Share Repurchases [Line Items]
Stock repurchased (in shares)			6.3
Common stock received, aggregate price	100.0	$ 110.0	$ 212.2	235.0
Common stock repurchased, average cost per share (in dollars per share)			$ 33.38
Stock repurchase program, remaining authorized repurchase amount	$ 700.0		$ 700.0
Stock repurchased during period, tax withholding			$ 14.1	$ 8.1

Equity - Components of Accumulated Other Comprehensive (Loss) Income, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	$ 4,266.9	$ 4,429.6	$ 4,316.9	$ 4,543.5
Other comprehensive (loss) income before reclassifications			(2.3)
Amount reclassified from accumulated other comprehensive loss			4.3
Other comprehensive (loss) income, net	(11.8)	(25.4)	2.0	0.3
Balance	4,248.7	4,340.9	4,248.7	4,340.9
Unrealized Gains/Losses on Available-for- Sale Debt Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			27.9
Other comprehensive (loss) income before reclassifications			(7.4)
Amount reclassified from accumulated other comprehensive loss			0.2
Other comprehensive (loss) income, net			(7.2)
Balance	20.7		20.7
Unrealized Gains/Losses on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			19.0
Other comprehensive (loss) income before reclassifications			19.8
Amount reclassified from accumulated other comprehensive loss			4.1
Other comprehensive (loss) income, net			23.9
Balance	42.9		42.9
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			(49.0)
Other comprehensive (loss) income before reclassifications			(14.7)
Amount reclassified from accumulated other comprehensive loss			0.0
Other comprehensive (loss) income, net			(14.7)
Balance	(63.7)		(63.7)
Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	11.7	81.3	(2.1)	55.6
Other comprehensive (loss) income, net	(11.8)	(25.4)	2.0	0.3
Balance	$ (0.1)	$ 55.9	$ (0.1)	$ 55.9

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
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-Name Accounting Standards Codification
-Topic 852
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-Section 55
-Paragraph 10
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Employee Benefit Plans - Equity Incentive Plan (Details) - shares	1 Months Ended
	May 31, 2022	Jun. 30, 2022
Equity incentive plan 2015
Share-Based Compensation Plans
Additional shares authorized (in shares)	4,500,000
Number of shares available for future issuance (in shares)		8,800,000
Employee stock purchase plan 2008
Share-Based Compensation Plans
Number of shares available for future issuance (in shares)		7,400,000

Employee Benefit Plans - Restricted Stock Unit and Performance Share Award Activities (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
RSUs, RSAs, and PSAs
Number of Shares
Balance at beginning of period (in shares)	22.2
Granted (in shares)	3.1
Vested (in shares)	(3.7)
Canceled (in shares)	(2.0)
Balance at end of period (in shares)	19.6
Weighted Average Grant Date Fair Value per Share
Balance at beginning of period (in dollars per share) \| $ / shares	$ 24.55
Granted (in dollars per share) \| $ / shares	34.15
Vested (in dollars per share) \| $ / shares	24.39
Canceled (in dollars per share) \| $ / shares	25.45
Balance at end of period (in dollars per share) \| $ / shares	$ 26.01
Weighted Average Remaining Contractual Term (In Years)	1 year 2 months 12 days
Aggregate Intrinsic Value \| $	$ 557.8
Service-based RSUs
Number of Shares
Granted (in shares)	1.5
Performance Shares
Number of Shares
Granted (in shares)	1.2
Market-based RSUs
Number of Shares
Granted (in shares)	0.4

Employee Benefit Plans - Employee Stock Purchase Plan (Details) - Employee stock purchase plan 2008 - $ / shares shares in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Employee Stock Purchase Plan (ESPP) Disclosures [Line Items]
Shares purchased (in shares)	1.4	1.4
Average exercise price per share (in dollars per share)	$ 20.07	$ 19.75

Employee Benefit Plans - Share Based Compensation by Cost and Expense Categories (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	$ 47.2	$ 50.5	$ 92.4	$ 108.0
Stock options
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	1.6	2.5	3.1	5.2
RSUs, RSAs, and PSAs
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	40.9	44.6	79.4	94.5
ESPP purchase rights
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	4.7	3.4	9.9	8.3
Cost of revenues - Product
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	1.2	1.0	2.6	2.3
Cost of revenues - Service
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	3.7	3.9	8.2	8.4
Research and development
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	19.3	20.1	35.9	44.3
Sales and marketing
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	12.4	14.9	24.9	31.4
General and administrative
Stock Based Compensation Expense Recorded in Cost and Expense Categories
Share-based compensation expense	$ 10.6	$ 10.6	$ 20.8	$ 21.6

Employee Benefit Plans - Share Based Compensation by Share Based Payment Award Types (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Share-Based Payment Arrangement [Abstract]
Unrecognized compensation cost	$ 310.3
Unrecognized compensation, weighted average recognition period	1 year 8 months 8 days

Segments - Narrative (Details)	6 Months Ended
Segments - Narrative (Details)	Jun. 30, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segments - Revenue by Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total net revenues	$ 1,269.6	$ 1,172.3	$ 2,437.8	$ 2,246.7
Automated WAN Solutions
Segment Reporting Information [Line Items]
Total net revenues	462.9	396.1	853.6	782.5
Cloud-Ready Data Center
Segment Reporting Information [Line Items]
Total net revenues	200.9	201.9	389.7	359.3
AI-Driven Enterprise
Segment Reporting Information [Line Items]
Total net revenues	227.3	195.1	441.3	356.3
Hardware Maintenance and Professional Services
Segment Reporting Information [Line Items]
Total net revenues	$ 378.5	$ 379.2	$ 753.2	$ 748.6

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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+ Details

Segments - Revenues by Customer Vertical (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total net revenues	$ 1,269.6	$ 1,172.3	$ 2,437.8	$ 2,246.7
Cloud
Segment Reporting Information [Line Items]
Total net revenues	331.0	320.6	638.0	591.3
Service Provider
Segment Reporting Information [Line Items]
Total net revenues	470.8	443.7	898.8	881.9
Enterprise
Segment Reporting Information [Line Items]
Total net revenues	$ 467.8	$ 408.0	$ 901.0	$ 773.5

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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Segments - Geographic (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Segments - Geographic (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total net revenues	$ 1,269.6	$ 1,172.3	$ 2,437.8	$ 2,246.7
Total Americas
Segment Reporting Information [Line Items]
Total net revenues	748.6	652.7	1,403.6	1,235.7
United States
Segment Reporting Information [Line Items]
Total net revenues	691.0	597.4	1,294.6	1,120.5
Other
Segment Reporting Information [Line Items]
Total net revenues	57.6	55.3	109.0	115.2
Europe, Middle East, and Africa
Segment Reporting Information [Line Items]
Total net revenues	337.2	323.9	671.1	635.0
Asia Pacific
Segment Reporting Information [Line Items]
Total net revenues	$ 183.8	$ 195.7	$ 363.1	$ 376.0

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 145.5	$ 74.8	$ 191.1	$ 37.0
Income tax provision	$ 31.6	$ 12.8	$ 21.5	$ 6.1
Effective tax rate	21.70%	17.10%	11.30%	16.50%
Loss on extinguishment of debt	$ 0.0	$ 0.0	$ 0.0	$ 60.6
Restructuring charges	0.5	$ 21.6	9.3	$ 40.9
Unrecognized tax benefits	116.7		116.7
Unrecognized tax benefits, maximum decrease in the next twelve months (up to)	$ 6.9		$ 6.9

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (c)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income	$ 113.4	$ 62.0	$ 169.1	$ 30.9
Denominator:
Weighted-average shares used to compute basic net income per share (in shares)	321.0	324.5	321.1	325.4
Dilutive effect of employee stock awards (in shares)	7.1	5.9	8.2	6.1
Weighted-average shares used to compute diluted net income (loss) per share (in shares)	328.1	330.4	329.3	331.5
Net income per share:
Basic (in dollars per share)	$ 0.35	$ 0.19	$ 0.53	$ 0.09
Diluted (in dollars per share)	$ 0.35	$ 0.19	$ 0.51	$ 0.09
Anti-dilutive shares (in shares)	2.9	0.6	1.2	1.8

Commitments and Contingencies - Additional Information (Details) $ in Millions	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation	$ 2,823.4

Subsequent Events (Details) - $ / shares			3 Months Ended		6 Months Ended
Subsequent Events (Details) - $ / shares	Sep. 22, 2022	Jul. 26, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)			$ 0.21		$ 0.21
Cash dividends (in dollars per share)			$ 0.21	$ 0.20	$ 0.42	$ 0.40
Forecast
Subsequent Event [Line Items]
Cash dividends (in dollars per share)	$ 0.21
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in dollars per share)		$ 0.21