XML 49 R29.htm IDEA: XBRL DOCUMENT
v3.21.1

Customer Funds (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Investments Debt And Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Values of Investments of Customer Funds Available for Sale |
|  | March 31, 2021 |
|  | Amortized |  |  | Gross Unrealized |  |  | Fair |
|  | Cost |  |  | Gain |  |  | Loss |  |  | Value |
|  | (Dollars in millions) |
Money market securities, investments carried at cost and other cash equivalents |  | $ | 2,105.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,105.0 |
Available for sale investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities |  |  | 541.9 |  |  |  | 17.7 |  |  |  | (2.3 | ) |  |  | 557.3 |
Canadian and provincial government securities |  |  | 400.2 |  |  |  | 12.4 |  |  |  | (0.1 | ) |  |  | 412.5 |
Corporate debt securities |  |  | 420.3 |  |  |  | 15.5 |  |  |  | (0.3 | ) |  |  | 435.5 |
Asset-backed securities |  |  | 192.7 |  |  |  | 3.9 |  |  |  | — |  |  |  | 196.6 |
Mortgage-backed securities |  |  | 7.4 |  |  |  | 0.1 |  |  |  | — |  |  |  | 7.5 |
Other short-term investments |  |  | 509.3 |  |  |  | — |  |  |  | — |  |  |  | 509.3 |
Other securities |  |  | 44.5 |  |  |  | — |  |  |  | (0.2 | ) |  |  | 44.3 |
Total available for sale investments |  |  | 2,116.3 |  |  |  | 49.6 |  |  |  | (2.9 | ) |  |  | 2,163.0 |
Invested customer funds |  |  | 4,221.3 |  |  | $ | 49.6 |  |  | $ | (2.9 | ) |  |  | 4,268.0 |
Receivables |  |  | 16.0 |  |  |  |  |  |  |  |  |  |  |  | 16.0 |
Total customer funds |  | $ | 4,237.3 |  |  |  |  |  |  |  |  |  |  | $ | 4,284.0 |
|  | 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 funds |  |  | 3,684.6 |  |  | $ | 61.7 |  |  | $ | (0.1 | ) |  |  | 3,746.2 |
Receivables |  |  | 13.2 |  |  |  |  |  |  |  |  |  |  |  | 13.2 |
Total customer funds |  | $ | 3,697.8 |  |  |  |  |  |  |  |  |  |  | $ | 3,759.4 |
Schedule of Unrealized Losses and Fair Value | The following represents the gross unrealized losses and the related fair value of the investments of customer funds available for sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.
|  | March 31, 2021 |
|  | 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 |  | $ | (2.3 | ) |  | $ | 140.7 |  |  | $ | — |  |  | $ | — |  |  | $ | (2.3 | ) |  | $ | 140.7 |
Canadian and provincial government securities |  |  | (0.1 | ) |  |  | 7.0 |  |  |  | — |  |  |  | — |  |  |  | (0.1 | ) |  |  | 7.0 |
Corporate debt securities |  |  | (0.3 | ) |  |  | 23.5 |  |  |  | — |  |  |  | — |  |  |  | (0.3 | ) |  |  | 23.5 |
Asset-backed securities |  |  | — |  |  |  | 16.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16.9 |
Other securities |  |  | (0.2 | ) |  |  | 38.4 |  |  |  | — |  |  |  | — |  |  |  | (0.2 | ) |  |  | 38.4 |
Total available for sale investments |  | $ | (2.9 | ) |  | $ | 226.5 |  |  | $ | — |  |  | $ | — |  |  | $ | (2.9 | ) |  | $ | 226.5 |
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 March 31, 2021, 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.
|  | March 31, 2021 |
|  | Cost |  |  | Fair Value |
|  | (Dollars in millions) |
Due in one year or less |  | $ | 3,000.7 |  |  | $ | 3,006.4 |
Due in one to three years |  |  | 678.7 |  |  |  | 705.7 |
Due in three to five years |  |  | 403.9 |  |  |  | 410.9 |
Due after five years |  |  | 138.0 |  |  |  | 145.0 |
Invested customer funds |  | $ | 4,221.3 |  |  | $ | 4,268.0 |

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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 Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration