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Investments in Marketable Securities | 6 Months Ended
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Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Investments in Marketable Securities | Investments in Marketable Securities Equity Securities The following table summarizes the cost, gross unrealized gains, gross unrealized losses, and fair value of investments in equity securities:
| December 31, 2023 |  | June 30, 2024
Cost | $35.3 |  | $44.0
Unrealized gains | 2.6 |  | 4.2
Unrealized losses | (0.0) |  | (0.2)
Fair value | $37.9 |  | $48.0
As of December 31, 2023 and June 30, 2024, investments in equity securities include consolidated Affiliate sponsored investment products with fair values of $15.8 million and $12.1 million, respectively. For the three and six months ended June 30, 2023, the Company recognized net unrealized gains on equity securities still held as of June 30, 2023 of $2.6 million and $3.9 million, respectively. For the three and six months ended June 30, 2024, the Company recognized net unrealized gains on equity securities still held as of June 30, 2024 of $0.2 million and $1.6 million, respectively. Debt Securities The following table summarizes the cost, gross unrealized gains, gross unrealized losses, and fair value of investments in U.S. T reasury securities classified as available-for-sale, all of which mature in 2024, and consolidated Affiliate sponsored investment products classified as trading:
| Available-for-Sale |  | Trading
| December 31, 2023 |  | June 30, 2024 |  | December 31, 2023 |  | June 30, 2024
Cost | $405.4 |  | $99.9 |  | $17.9 |  | $19.7
Unrealized gains | 0.0 |  | — |  | — |  | —
Unrealized losses | (0.1) |  | (0.0) |  | (0.1) |  | (0.3)
Fair value | $405.3 |  | $99.9 |  | $17.8 |  | $19.4
For the three months ended June 30, 2023, there were no maturities or sales of available-for-sale securities. For the six months ended June 30, 2023, the Company received $101.7 million of proceeds from the maturity of available-for sale securities. For the three and six months ended June 30, 2023, the Company purchased $75.0 million and $175.0 million of available-for-sale securities, respectively. For the three and six months ended June 30, 2024, the Company received $300.0 million and $725.2 million of proceeds from the maturity of available-for-sale securities, respectively, and purchased $99.8 million and $413.9 million of available-for-sale securities, respectively. For the three and six months ended June 30, 2023, the Company recognized net unrealized gains (losses) on debt securities classified as trading still held as of June 30, 2023 of $0.0 million and $(0.0) million, respectively. For the three and six months ended June 30, 2024, the Company recognized net unrealized gains (losses) on debt securities classified as trading still held as of June 30, 2024 of $(0.2) million and $0.6 million, respectively.

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