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INVESTMENTS (Tables) | 3 Months Ended
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Mar. 31, 2022
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):
| March 31, 2022 |  | December 31, 2021
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 | $ | 160.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 160.0 |  |  | $ | 162.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 162.0 |
Available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank time deposits | $ | 4.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 4.5 |  |  | $ | 2.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.5 |
Commercial paper | 23.1 |  |  | — |  |  | — |  |  | 23.1 |  |  | 127.7 |  |  | — |  |  | — |  |  | 127.7 |
United States government and agency securities | 142.5 |  |  | — |  |  | (4.0) |  |  | 138.5 |  |  | 147.4 |  |  | 0.6 |  |  | (0.7) |  |  | 147.3 |
Asset-backed securities | 451.0 |  |  | — |  |  | (10.8) |  |  | 440.2 |  |  | 515.2 |  |  | 0.3 |  |  | (2.9) |  |  | 512.6 |
Corporate debt securities | 1,264.5 |  |  | 0.2 |  |  | (37.0) |  |  | 1,227.7 |  |  | 1,397.1 |  |  | 2.0 |  |  | (8.3) |  |  | 1,390.8 |
Municipal securities | 2.8 |  |  | — |  |  | (0.2) |  |  | 2.6 |  |  | 2.8 |  |  | — |  |  | — |  |  | 2.8 |
Total | $ | 1,888.4 |  |  | $ | 0.2 |  |  | $ | (52.0) |  |  | $ | 1,836.6 |  |  | $ | 2,192.7 |  |  | $ | 2.9 |  |  | $ | (11.9) |  |  | $ | 2,183.7 |
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 March 31, 2022, 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 | $ | 160.0 |  |  | $ | 160.0 |  |  | $ | 305.9 |  |  | $ | 305.0 |
Due after 1 year through 5 years | — |  |  | — |  |  | 1,070.8 |  |  | 1,033.4 |
Due after 5 years through 10 years | — |  |  | — |  |  | 8.1 |  |  | 7.8 |
Instruments not due at a single maturity date (a) | — |  |  | — |  |  | 503.6 |  |  | 490.4 |
| $ | 160.0 |  |  | $ | 160.0 |  |  | $ | 1,888.4 |  |  | $ | 1,836.6 |
_______________________________________ (a) Consists primarily of asset-backed securities.
Schedule of Gross Unrealized Losses and Fair Values for Investments in Unrealized Loss Position | The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2022 and December 31, 2021, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):
| March 31, 2022
| Less than 12 Months |  | 12 Months or Greater |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
United States government and agency securities | $ | 101.8 |  |  | $ | (3.6) |  |  | $ | 9.4 |  |  | $ | (0.4) |  |  | $ | 111.2 |  |  | $ | (4.0) |
Asset-backed securities | 396.5 |  |  | (10.5) |  |  | 15.8 |  |  | (0.3) |  |  | 412.3 |  |  | (10.8) |
Corporate debt securities | 1,110.1 |  |  | (34.5) |  |  | 33.6 |  |  | (2.5) |  |  | 1,143.7 |  |  | (37.0) |
Municipal securities | 3.1 |  |  | (0.2) |  |  | — |  |  | — |  |  | 3.1 |  |  | (0.2) |
| $ | 1,611.5 |  |  | $ | (48.8) |  |  | $ | 58.8 |  |  | $ | (3.2) |  |  | $ | 1,670.3 |  |  | $ | (52.0) |
| December 31, 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
United States government and agency securities | $ | 85.1 |  |  | $ | (0.7) |  |  | $ | — |  |  | $ | — |  |  | $ | 85.1 |  |  | $ | (0.7) |
Asset-backed securities | 433.3 |  |  | (2.9) |  |  | — |  |  | — |  |  | 433.3 |  |  | (2.9) |
Corporate debt securities | 1,114.1 |  |  | (8.3) |  |  | — |  |  | — |  |  | 1,114.1 |  |  | (8.3) |
| $ | 1,632.5 |  |  | $ | (11.9) |  |  | $ | — |  |  | $ | — |  |  | $ | 1,632.5 |  |  | $ | (11.9) |
Schedule of Investments in Unconsolidated Affiliates | These investments are recorded in "Long-term Investments" on the consolidated condensed balance sheets, and are as follows:
| March 31, 2022 |  | December 31, 2021
| (in millions)
Equity method investments |  |  |
Carrying value of equity method investments | $ | 7.7 |  |  | $ | 8.4 |
Equity securities |  |  |
Carrying value of non-marketable equity securities | 84.4 |  |  | 84.1 |
Total investments in unconsolidated entities | $ | 92.1 |  |  | $ | 92.5 |

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- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455 + Details
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- Definition A tabular presentation of the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates, as prescribed by the SEC. It reflects specified information about ownership, financial results from, and financial position in such entities. Includes the tabular presentations that disaggregate investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. + References No definition available. + Details
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