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v3.22.1

Marketable Securities Held in Trusts (Tables) | 3 Months Ended
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Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of maturity dates for debt securities | The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of March 31, 2022. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.
| March 31, 2022
Due in one year or less | $ | 17.7 |
Due after one year through five years | 348.4 |
Due after five years through ten years | 280.7 |
Due after ten years | 26.0 |
Total debt securities | $ | 672.8 |
Schedule of Unrealized Loss on Investments | The following tables show gross unrealized losses and fair values of the RCRA Trusts’ available-for-sale securities that have been in a continuous unrealized loss position for which an allowance for credit losses has not been recorded as of March 31, 2022 and December 31, 2021:
| March 31, 2022 |  | December 31, 2021
(in millions) | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Securities that have been in a continuous loss position for less than 12 months: |  |  |  |  |  |  |
Corporate debt securities | $ | 143.8 |  |  | $ | (6.6) |  |  | $ | 67.1 |  |  | $ | (0.8) |
Municipal bonds | 127.2 |  |  | (5.0) |  |  | 39.9 |  |  | (0.4) |
U.S. government bonds | 116.5 |  |  | (8.3) |  |  | 152.2 |  |  | (2.5) |
| $ | 387.5 |  |  | $ | (19.9) |  |  | $ | 259.2 |  |  | $ | (3.7) |
Securities that have been in a continuous loss position for more than 12 months: |  |  |  |  |  |  |
Corporate debt securities | $ | 6.5 |  |  | $ | (0.7) |  |  | $ | 3.6 |  |  | $ | (0.1) |
Municipal bonds | 10.3 |  |  | (0.8) |  |  | 4.5 |  |  | (0.1) |
U.S. government bonds | 165.7 |  |  | (13.3) |  |  | 143.4 |  |  | (3.6) |
| $ | 182.5 |  |  | $ | (14.8) |  |  | $ | 151.5 |  |  | $ | (3.8) |
Unrealized Gain (Loss) on Investments | The estimated fair value of the investments in the RCRA Trusts as of March 31, 2022 and December 31, 2021 are as follows:
| March 31, 2022
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Level 1 |  |  |  |  |  |  |
Cash and cash equivalents | $ | 7.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 7.1 |
Level 2 |  |  |  |  |  |  |
Corporate debt securities | 198.6 |  |  | 0.8 |  |  | (7.3) |  |  | 192.1 |
Municipal bonds | 201.0 |  |  | 0.9 |  |  | (5.8) |  |  | 196.1 |
U.S. government bonds | 306.2 |  |  | — |  |  | (21.6) |  |  | 284.6 |
Total | $ | 712.9 |  |  | $ | 1.7 |  |  | $ | (34.7) |  |  | $ | 679.9 |
| December 31, 2021
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Level 1 |  |  |  |  |  |  |
Cash and cash equivalents | $ | 8.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 8.1 |
Level 2 |  |  |  |  |  |  |
Corporate debt securities | 198.8 |  |  | 5.6 |  |  | (0.9) |  |  | 203.5 |
Municipal bonds | 198.1 |  |  | 6.5 |  |  | (0.5) |  |  | 204.1 |
U.S. government bonds | 305.3 |  |  | — |  |  | (6.1) |  |  | 299.2 |
Total | $ | 710.3 |  |  | $ | 12.1 |  |  | $ | (7.5) |  |  | $ | 714.9 |

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 + Details
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