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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table categorizes by level in the fair value hierarchy the estimated fair value of our assets and liabilities measured at fair value on a recurring basis.
| June 30, 2022 |  | December 31, 2021
(in millions) | Level 1 | Level 2 | Level 3 |  | Level 1 | Level 2 | Level 3
Assets |  |  |  |  |  |  |
Investments - fair value | $ | 58.7 |  | — |  | 460.4 |  |  | 84.5 |  | — |  | 303.5 |
Foreign currency forward contracts receivable | — |  | 7.8 |  | — |  |  | — |  | 15.9 |  | — |
Warehouse receivables | — |  | 634.8 |  | — |  |  | — |  | 822.3 |  | — |
Deferred compensation plan assets | — |  | 528.1 |  | — |  |  | — |  | 528.8 |  | — |
Mortgage banking derivative assets | — |  | — |  | 128.8 |  |  | — |  | — |  | 60.4 |
Total assets at fair value | $ | 58.7 |  | 1,170.7 |  | 589.2 |  |  | 84.5 |  | 1,367.0 |  | 363.9 |
Liabilities |  |  |  |  |  |  |
Foreign currency forward contracts payable | $ | — |  | 1.2 |  | — |  |  | — |  | 0.8 |  | — |
Deferred compensation plan liabilities | — |  | 484.9 |  | — |  |  | — |  | 513.0 |  | — |
Earn-out liabilities | — |  | — |  | 74.9 |  |  | — |  | — |  | 84.1 |
Mortgage banking derivative liabilities | — |  | — |  | 107.2 |  |  | — |  | — |  | 38.5 |
Total liabilities at fair value | $ | — |  | 486.1 |  | 182.1 |  |  | — |  | 513.8 |  | 122.6 |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
| Balance as of March 31, 2022 | Net change in fair value | Foreign CTA(1) | Purchases / Additions | Settlements |  |  | Balance as of June 30, 2022
Investments | $ | 344.2 |  | 45.3 |  | — |  | 71.1 |  | (0.2) |  |  |  | $ | 460.4 |
Mortgage banking derivative assets and liabilities, net | 37.1 |  | 2.2 |  | — |  | 48.4 |  | (66.1) |  |  |  | 21.6 |
Earn-out liabilities | 79.5 |  | 1.0 |  | (0.3) |  | — |  | (5.3) |  |  |  | 74.9 |
| Balance as of March 31, 2021 | Net change in fair value | Foreign CTA(1) | Purchases / Additions | Settlements | Level transfer out(2) |  | Balance as of June 30, 2021
Investments | $ | 140.1 |  | 6.3 |  | — |  | 37.1 |  | — |  | (1.9) |  |  | $ | 181.6 |
Mortgage banking derivative assets and liabilities, net | 32.9 |  | (7.6) |  | — |  | 29.6 |  | (42.3) |  | — |  |  | 12.6 |
Earn-out liabilities | 68.2 |  | 1.1 |  | — |  | — |  | (51.3) |  | — |  |  | 18.0 |
(in millions) | Balance as of December 31, 2021 | Net change in fair value | Foreign CTA(1) | Purchases / Additions | Settlements |  |  | Balance as of June 30, 2022
Investments | $ | 303.5 |  | 62.5 |  | — |  | 94.6 |  | (0.2) |  |  |  | $ | 460.4 |
Mortgage banking derivative assets and liabilities, net | 21.9 |  | 22.6 |  | — |  | 86.0 |  | (108.9) |  |  |  | 21.6 |
Earn-out liabilities | 84.1 |  | 0.3 |  | (0.4) |  | 2.0 |  | (11.1) |  |  |  | 74.9 |
(in millions) | Balance as of December 31, 2020 | Net change in fair value | Foreign CTA(1) | Purchases / Additions | Settlements | Level transfer out(2) |  | Balance as of June 30, 2021
Investments | $ | 59.3 |  | 38.1 |  | — |  | 86.2 |  | (0.1) |  | (1.9) |  |  | $ | 181.6 |
Mortgage banking derivative assets and liabilities, net | 13.7 |  | 11.3 |  | — |  | 70.7 |  | (83.1) |  | — |  |  | 12.6 |
Earn-out liabilities | 85.7 |  | 1.0 |  | (0.3) |  | 3.8 |  | (72.2) |  | — |  |  | 18.0 |
(1) CTA: Currency translation adjustments (2) In 2021, an investment previously treated as a Level 3 investment became publicly traded on the NYSE and was considered a Level 1 investment immediately.
Fair Value, Qualitative Disclosures About Assets and Liabilities using Unobservable Inputs | Net change in fair value, included in the tables above, is reported in Net income as follows.
Category of Assets/Liabilities using Unobservable Inputs | Condensed Consolidated Statements of Comprehensive Income Account Caption
Earn-out liabilities (Short-term and Long-term) | Restructuring and acquisition charges
Investments | Equity earnings
Other current assets - Mortgage banking derivative assets | Revenue
Other current liabilities - Mortgage banking derivative liabilities | Revenue

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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