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Marketable Securities Held in Trusts (Tables)
12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale The estimated fair value of the investments in the RCRA Trusts as of December 31, 2022 and December 31, 2021 are as follows:
December 31, 2022
(in millions)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Level 1
    Cash and cash equivalents $7.7 $— $— $7.7 
Level 2
    Corporate debt securities203.8 0.1 (17.1)186.8 
    Municipal bonds197.0 0.4 (8.0)189.4 
    U.S. government bonds269.6 — (3.6)266.0 
    Other holdings0.2 — — 0.2 
Total$678.3 $0.5 $(28.7)$650.1 
December 31, 2021
(in millions)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Level 1
    Cash and cash equivalents $8.1 $— $— $8.1 
Level 2
    Corporate debt securities198.8 5.6 (0.9)203.5 
    Municipal bonds198.1 6.5 (0.5)204.1 
    U.S. government bonds305.3 — (6.1)299.2 
Total$710.3 $12.1 $(7.5)$714.9 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value 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 December 31, 2022 and December 31, 2021.
December 31, 2022December 31, 2021
Securities that have been in a continuous loss position for less than 12 months (in millions):
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Corporate debt securities$105.6 $(6.5)$67.1 $(0.8)
Municipal bonds104.7 (2.9)39.9 (0.4)
U.S. government bonds264.9 (3.5)152.2 (2.5)
Total$475.2 $(12.9)$259.2 $(3.7)
December 31, 2022December 31, 2021
Securities that have been in a continuous loss position for more than 12 months (in millions):
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Corporate debt securities$72.8 $(10.6)$3.6 $(0.1)
Municipal bonds61.9 (5.1)4.5 (0.1)
U.S. government bonds0.8 (0.1)143.4 (3.6)
Total$135.5 $(15.8)$151.5 $(3.8)
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 December 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.
(in millions)December 31, 2022
Due in one year or less$18.3 
Due after one year through five years296.1 
Due after five years through ten years302.8 
Due after ten years25.2 
Total debt securities$642.4