Customer Trust Funds (Tables)

12 Months Ended

Dec. 31, 2020

Investments Debt And Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Values of Investments of Customer Trust Funds Available for Sale

	December 31, 2020
	Amortized		Gross Unrealized					Fair
	Cost		Gain		Loss			Value
	(Dollars in millions)
Money market securities, investments carried at cost and other cash equivalents	$	2,027.1	$	—	$	—		$	2,027.1
Available for sale investments:
U.S. government and agency securities		494.0		21.6		(0.1	)		515.5
Canadian and provincial government securities		396.4		15.5		—			411.9
Corporate debt securities		548.5		19.4		—			567.9
Asset-backed securities		192.2		4.9		—			197.1
Mortgage-backed securities		9.9		0.2		—			10.1
Other securities		16.5		0.1		—			16.6
Total available for sale investments		1,657.5		61.7		(0.1	)		1,719.1
Invested customer trust funds		3,684.6	$	61.7	$	(0.1	)		3,746.2
Trust receivables		13.2							13.2
Total customer trust funds	$	3,697.8						$	3,759.4

	December 31, 2019
	Amortized		Gross Unrealized					Fair
	Cost		Gain		Loss			Value
	(Dollars in millions)
Money market securities, investments carried at cost and other cash equivalents	$	1,348.1	$	—	$	—		$	1,348.1
Available for sale investments:
U.S. government and agency securities		542.4		7.1		(0.3	)		549.2
Canadian and provincial government securities		406.7		5.4		(0.7	)		411.4
Corporate debt securities		562.2		9.0		(0.3	)		570.9
Asset-backed securities		270.0		1.7		(0.3	)		271.4
Mortgage-backed securities		19.8		0.2		(0.1	)		19.9
Other securities		4.0		—		—			4.0
Total available for sale investments		1,805.1		23.4		(1.7	)		1,826.8
Invested customer trust funds		3,153.2	$	23.4	$	(1.7	)		3,174.9
Trust receivables (a)		40.4							29.2
Total customer trust funds	$	3,193.6						$	3,204.1

(a)

The fair value of trust receivable as of December 31, 2019, includes a loss of $11.2 million related to unrecovered duplicate payments resulting from the September 26, 2019, isolated service incident. Ceridian was liable for these unrecovered duplicate payments and reimbursed the customer trust for the resulting losses in the first quarter of 2020. Please refer to Note 17, “Commitments and Contingencies,” for further discussion of the September 26, 2019, isolated service incident.

Schedule of Unrealized Losses and Fair Value

The following represents the gross unrealized losses and the related fair value of the investments of customer trust funds available for sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

	December 31, 2020
	Less than 12 months					12 months or more				Total
	Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses			Fair Value
	(Dollars in millions)
U.S. government and agency securities	$	(0.1	)	$	42.1	$	—	$	—	$	(0.1	)	$	42.1
Total available for sale investments	$	(0.1	)	$	42.1	$	—	$	—	$	(0.1	)	$	42.1

Schedule of Amortized Cost and Fair Value of Investment Securities Available for Sale by Contractual Maturity

The amortized cost and fair value of investment securities available for sale at December 31, 2020, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or to prepay obligations with or without call or prepayment penalties.

	December 31, 2020
	Cost		Fair Value
	(Dollars in millions)
Due in one year or less	$	2,487.7	$	2,491.2
Due in one to three years		753.4		785.8
Due in three to five years		335.1		349.1
Due after five years		108.4		120.1
Invested customer trust funds	$	3,684.6	$	3,746.2