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Investments in Marketable Securities | 9 Months Ended
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Sep. 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 |  | September 30, 2024
Cost | $35.3 |  | $37.6
Unrealized gains | 2.6 |  | 4.7
Unrealized losses | (0.0) |  | (0.3)
Fair value | $37.9 |  | $42.0
As of December 31, 2023 and September 30, 2024, investments in equity securities include consolidated Affiliate sponsored investment products with fair values of $15.8 million and $11.9 million, respectively. For the three months ended September 30, 2023, the Company recognized net unrealized losses on equity securities still held as of September 30, 2023 of $2.1 million. For the nine months ended September 30, 2023, the Company recognized net unrealized gains on equity securities still held as of September 30, 2023 of $1.3 million. For the three and nine months ended September 30, 2024, the Company recognized net unrealized gains on equity securities still held as of September 30, 2024 of $2.0 million and $3.5 million, respectively. Debt Securities The following table summarizes the cost, gross unrealized gains, gross unrealized losses, and fair value of investments in U.S. Treasury securities classified as available-for-sale, all of which matured during the nine months ended September 30, 2024, and consolidated Affiliate sponsored investment products classified as trading:
| Available-for-Sale |  | Trading
| December 31, 2023 |  | September 30, 2024 |  | December 31, 2023 |  | September 30, 2024
Cost | $405.4 |  | $— |  | $17.9 |  | $23.3
Unrealized gains | 0.0 |  | — |  | — |  | 0.8
Unrealized losses | (0.1) |  | — |  | (0.1) |  | —
Fair value | $405.3 |  | $— |  | $17.8 |  | $24.1
For the three and nine months ended September 30, 2023, the Company received $178.4 million and $280.1 million of proceeds from the maturity of available-for sale securities, respectively, and purchased $245.3 million and $420.3 million of available-for-sale securities, respectively. For the three months ended September 30, 2024, the Company received $100.0 million of proceeds from the maturity of available-for-sale securities and purchased no available-for-sale securities. For the nine months ended September 30, 2024, the Company received $825.2 million of proceeds from the maturity of available-for- sale securities and purchased $413.9 million of available-for-sale securities. For the three and nine months ended September 30, 2023, the Company recognized net unrealized gains on debt securities classified as trading still held as of September 30, 2023 of $0.0 million and $0.0 million, respectively. For the three and nine months ended September 30, 2024, the Company recognized net unrealized gains on debt securities classified as trading still held as of September 30, 2024 of $0.8 million and $1.4 million, respectively.

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