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Investments in Marketable Securities
 9 Months Ended
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.