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Unconsolidated Affiliates | 3 Months Ended
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Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Unconsolidated Affiliates | Note 4—Unconsolidated Affiliates Investments in unconsolidated affiliates are as follows (in millions):
|  |  |  | March 31, 2024 |  |  | December 31, 2023 |
|  | Ownership Percentage |  | Carrying Value |  |  | Excess carrying value of investment over proportionate share of net assets |  |  | Carrying Value |  |  | Excess carrying value of investment over proportionate share of net assets |
Orbit Private Investments L.P. |  | 9.8% |  | $ | 212.9 |  |  | $ | — |  |  | $ | 211.6 |  |  | $ | — |
International Financial Data Services L.P. |  | 50.0% |  |  | 68.9 |  |  |  | 30.6 |  |  |  | 68.3 |  |  |  | 31.4 |
Broadway Square Partners, LLP |  | 50.0% |  |  | 53.1 |  |  |  | 29.3 |  |  |  | 53.4 |  |  |  | 29.5 |
Pershing Road Development Company, LLC |  | 50.0% |  |  | 9.9 |  |  |  | 54.8 |  |  |  | 10.0 |  |  |  | 55.4 |
Other unconsolidated affiliates |  |  |  |  | 1.9 |  |  |  | — |  |  |  | 1.9 |  |  |  | — |
Total |  |  |  | $ | 346.7 |  |  | $ | 114.7 |  |  | $ | 345.2 |  |  | $ | 116.3 |
Investments in unconsolidated affiliates are accounted for under the equity method of accounting. We record our proportionate share of the results of the unconsolidated affiliates and amortization expense related to basis differences in Equity in earnings of unconsolidated affiliates, net on the Condensed Consolidated Statements of Comprehensive Income. Equity in earnings of unconsolidated affiliates, net are as follows (in millions):
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Orbit Private Investments L.P. |  | $ | 1.2 |  |  | $ | 4.8 |
International Financial Data Services L.P. |  |  | 1.5 |  |  |  | 1.1 |
Pershing Road Development Company, LLC |  |  | (0.1 | ) |  |  | (0.2 | )
Broadway Square Partners, LLP |  |  | (0.3 | ) |  |  | 0.1 |
Other unconsolidated affiliates |  |  | — |  |  |  | (0.1 | )
Total |  | $ | 2.3 |  |  | $ | 5.7 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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