INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments in Debt Securities

Investments in debt securities at the end of each period were as follows (in millions):


	September 30, 2021								December 31, 2020
Held-to-maturity	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Bank time deposits	$	83.0	$	—	$	—	$	83.0	$	50.0	$	—	$	—		$	50.0








Available-for-sale
Bank time deposits	$	3.0	$	—	$	—	$	3.0	$	24.1	$	—	$	—		$	24.1
Commercial paper	2.9		—		—		2.9		—		—		—			—
U.S. government and agency securities	145.8		1.1		(0.1)		146.8		147.0		2.2		—			149.2

Asset-backed securities	300.2		0.7		(0.8)		300.1		149.6		1.9		—			151.5
Corporate debt securities	946.0		4.4		(1.2)		949.2		600.8		7.5		—			608.3
Municipal securities	2.8		—		—		2.8		2.8		—		—			2.8
Total	$	1,400.7	$	6.2	$	(2.1)	$	1,404.8	$	924.3	$	11.6	$	—		$	935.9

Schedule of Cost and Fair Value of Investments in Debt Securities, By Contractual Maturity

The cost and fair value of investments in debt securities, by contractual maturity, as of September 30, 2021, were as follows:


	Held-to-Maturity				Available-for-Sale
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(in millions)
Due in 1 year or less	$	83.0	$	83.0	$	203.6	$	204.8
Due after 1 year through 5 years	—		—		839.0		841.5
Due after 5 years through 10 years	—		—		4.9		4.9

Instruments not due at a single maturity date	—		—		353.2		353.6
	$	83.0	$	83.0	$	1,400.7	$	1,404.8

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2021, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):


	September 30, 2021
	Less than 12 Months				12 Months or Greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses


U.S. government and agency securities	$	57.0	$	(0.1)	$	—	$	—	$	57.0	$	(0.1)

Asset-backed securities	190.4		(0.8)		—		—		190.4		(0.8)
Corporate debt securities	335.3		(1.2)		—		—		335.3		(1.2)

	$	582.7	$	(2.1)	$	—	$	—	$	582.7	$	(2.1)

The unrealized losses were largely due to changes in interest rates.

Schedule of Investments in Unconsolidated Affiliates

Investments in these unconsolidated entities are recorded in "Long-term Investments" on the consolidated condensed balance sheets, and are as follows:


	September 30, 2021		December 31, 2020
	(in millions)
Equity method investments
Carrying value of equity method investments	$	8.4	$	5.7
Equity securities
Carrying value of non-marketable equity securities	73.6		29.4
Total investments in unconsolidated entities	$	82.0	$	35.1