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Equity Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Summary of Investments in Equity Securities, by Classification

Investments in equity securities, by classification, are summarized as follows:


(in millions)		March 31, 2023				December 31, 2022
Marketable equity securities		$	315.2			$	279.5
Non-marketable equity securities			384.7				395.8
Equity method investments			74.0				78.9
		$	773.9			$	754.2

Summary of Investments in Marketable Equity Securities

Investments in marketable equity securities are summarized as follows:


(in millions)		Cost				Unrealized losses				Estimated fair value
March 31, 2023
Common stocks		$	348.8			$	(44.9	)		$	303.9
Preferred stocks			15.3				(4.0	)			11.3
		$	364.1			$	(48.9	)		$	315.2
December 31, 2022
Common stocks		$	323.7			$	(55.6	)		$	268.1
Preferred stocks			15.3				(3.9	)			11.4
		$	339.0			$	(59.5	)		$	279.5

Summary of Investments in Non-Marketable Equity Securities

Investments in non-marketable equity securities are summarized as follows:


(in millions)		Cost				Unrealized gains				Carrying amount
March 31, 2023		$	313.3			$	71.4			$	384.7
December 31, 2022		$	307.2			$	88.6			$	395.8