XML 35 R10.htm IDEA: XBRL DOCUMENT v3.22.0.1

Debt Securities

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Debt Securities

Debt Securities

The following table summarizes the amortized cost, unrealized gain and loss recognized in accumulated other comprehensive income (loss) and fair value of debt securities available-for-sale at December 31, 2021, aggregated by major security type and contractual maturity:

									December 31, 2021																								December 31, 2020
(in millions)			Contractual Maturity						Amortized Cost						Unrealized Gain						Unrealized Loss						Fair Value						Amortized Cost						Unrealized Gain						Unrealized Loss						Fair Value
Commercial paper			0 to 1 years						$	204.8					$	—					$	—					$	204.8					$	82.2					$	—					$	—					$	82.2
Corporate debt securities			0 to 1 years						128.2						—						(0.1)						128.1						299.3						1.4						—						300.7
Securities of government-sponsored entities			0 to 1 years						37.6						—						—						37.6						230.9						0.1						—						231.0
									$	370.6					$	—					$	(0.1)					$	370.5					$	612.4					$	1.5					$	—					$	613.9
Corporate debt securities			1 to 3 years						$	358.9					$	—					$	(1.5)					$	357.4					$	144.8					$	0.4					$	—					$	145.2
Securities of government-sponsored entities			1 to 3 years						204.3						—						(1.0)						203.3						81.9						0.1						(0.1)						81.9
									$	563.2					$	—					$	(2.5)					$	560.7					$	226.7					$	0.5					$	(0.1)					$	227.1

As of December 31, 2021, our security portfolio consisted of 164 debt securities available-for-sale, including 136 such securities that were in an unrealized loss position but of high credit quality. Unrealized losses on these investments were primarily due to changes in interest rates. We do not intend to sell these investments and it is not more likely than not that we will be required to sell these investments before recovery of their amortized cost basis. We did not recognize an allowance for credit losses as of December 31, 2021 or 2020.

The following table summarizes debt securities available-for-sale in an unrealized loss position for less than 12 months, aggregated by major security type. There were no debt securities available-for-sale in an unrealized loss position for longer than 12 months as of December 31, 2021 or 2020.

			December 31, 2021																																	December 31, 2020
(in millions)			Fair Value						Unrealized Loss																											Fair Value						Unrealized Loss
Corporate Debt Securities			$	428.6					$	(1.6)																										$	—					$	—
Securities of government-sponsored entities			230.5						(1.0)																											95.0						(0.1)
			$	659.1					$	(2.6)																										$	95.0					$	(0.1)

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

+ Details

Name:	us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration