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INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2023

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):

			June 30, 2023																								December 31, 2022
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			$	28.1					$	—					$	—					$	28.1					$	96.0					$	—					$	—					$	96.0
Available-for-sale
U.S. government and agency securities			103.4						—						(5.0)						98.4						137.7						—						(6.1)						131.6
Asset-backed securities			262.5						—						(10.0)						252.5						380.6						—						(14.0)						366.6
Corporate debt securities			864.9						—						(34.0)						830.9						1,028.1						—						(47.8)						980.3
Municipal securities			2.8						—						(0.2)						2.6						2.7						—						(0.2)						2.5
Total			$	1,233.6					$	—					$	(49.2)					$	1,184.4					$	1,549.1					$	—					$	(68.1)					$	1,481.0

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 June 30, 2023, 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			$	26.3					$	26.3					$	450.9					$	440.4
Due after 1 year through 5 years			1.8						1.8						472.0						446.7
Due after 5 years through 10 years			—						—						4.6						4.4
Instruments not due at a single maturity date (a)			—						—						306.1						292.9
			$	28.1					$	28.1					$	1,233.6					$	1,184.4

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(a)     Consists of mortgage- and 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 June 30, 2023 and December 31, 2022, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):

			June 30, 2023
			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			$	10.9					$	(0.1)					$	86.2					$	(4.9)					$	97.1					$	(5.0)
Asset-backed securities			50.9						(0.8)						199.9						(9.2)						250.8						(10.0)
Corporate debt securities			23.3						(0.1)						793.3						(33.9)						816.6						(34.0)
Municipal securities			—						—						2.6						(0.2)						2.6						(0.2)
			$	85.1					$	(1.0)					$	1,082.0					$	(48.2)					$	1,167.1					$	(49.2)

			December 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
U.S. government and agency securities			$	61.6					$	(1.5)					$	69.5					$	(4.6)					$	131.1					$	(6.1)
Asset-backed securities			103.3						(1.3)						254.6						(12.7)						357.9						(14.0)
Corporate debt securities			189.0						(5.3)						784.8						(42.5)						973.8						(47.8)
Municipal securities			—						—						2.5						(0.2)						2.5						(0.2)
			$	353.9					$	(8.1)					$	1,111.4					$	(60.0)					$	1,465.3					$	(68.1)

Schedule of Investments in Unconsolidated Affiliates

These investments are recorded in "Long-term Investments" on the consolidated condensed balance sheets, and are as follows:

			June 30, 2023						December 31, 2022
			(in millions)
Equity method investments
Carrying value of equity method investments			$	23.5					$	21.4
Equity securities
Carrying value of non-marketable equity securities			86.9						86.9
Total investments in unconsolidated entities			$	110.4					$	108.3

X

- 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
-Topic 326
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-Name Accounting Standards Codification
-Section 55
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Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
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-Section 50
-Paragraph 4
-Publisher FASB
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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.

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