XML 34 R15.htm IDEA: XBRL DOCUMENT v3.25.3
INVESTMENTS
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
Marketable Securities
As of September 30, 2025 and December 31, 2024, marketable equity securities recorded within other current
assets in the Consolidated Balance Sheets were $2.4 million and $2.2 million, respectively. Net unrealized gains
recognized during the nine months ended September 30, 2025 and 2024 on marketable equity securities held at the
reporting date were $0.2 million and $0.3 million, respectively.
Marketable debt securities accounted for as AFS, and recorded within Other current assets in the Consolidated
Balance Sheets, were as follows:
As of September 30, 2025
Fair Value of Securities with Contractual
Maturities
(In millions)
Amortized
Cost
Total Net
Gains1
Total Net
Losses1
Fair Value
Within 1
Year
After 1 Year
through 5
Years
After 5
Years
U.S. Treasury
$21.3
$0.2
$—
$21.5
$3.7
$14.3
$3.5
Municipal securities
8.9
0.2
—
9.1
—
7.5
1.6
Corporate debt
21.7
0.3
—
22.0
5.0
12.3
4.7
Total
$51.9
$0.7
$—
$52.6
$8.7
$34.1
$9.8
As of December 31, 2024
Fair Value of Securities with Contractual
Maturities
(In millions)
Amortized
Cost
Total Net
Gains1
Total Net
Losses1
Fair Value
Within 1
Year
After 1 Year
through 5
Years
After 5
Years
U.S. Treasury
$20.4
$—
$(0.2)
$20.2
$3.4
$13.8
$3.1
Municipal securities
10.0
—
—
10.0
1.5
7.0
1.5
Corporate debt
21.0
—
(0.1)
20.9
4.2
13.7
2.9
Total
$51.4
$—
$(0.3)
$51.1
$9.1
$34.5
$7.5
1Represents total unrealized losses for securities with net gains (losses) in accumulated other comprehensive income.
Proceeds from the maturity of AFS debt securities were $2.0 million and $8.2 million for the three and nine-months
ended September 30, 2025. There were no gross realized gains or losses on the maturity of AFS debt securities for
the three and nine-months ended September 30, 2025 and 2024.
Equity Method Investments
Our common stock voting interests in Pinewood Technologies, PLC (PINE.L), a U.K.-based automotive dealership
management system provider, increased from 25.50% to 31.95% in July 2025. The investment is accounted for as
an equity method investment. The investment is measured at fair value based on quoted market prices, and all fair
market value changes in the investment are recorded as unrealized gains or losses as a component of Other
(expense) income, net in the Consolidated Statements of Operations. The fair value of our investment was $205.1
million and $100.0 million  as of September 30, 2025 and December 31, 2024, respectively. See Note 11 – Fair
Value Measurements.