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Equity Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of Investments in Equity Securities, by Accounting Classification

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


(in millions)		June 30, 2023				December 31, 2022
Marketable equity securities		$	430.9			$	279.5
Non-marketable equity securities			362.9				395.8
Equity method investments			73.3				78.9
		$	867.1			$	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
June 30, 2023
Common stocks		$	423.1			$	(3.7	)		$	419.4
Preferred stocks			15.6				(4.1	)			11.5
		$	438.7			$	(7.8	)		$	430.9
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
June 30, 2023		$	314.2			$	48.7			$	362.9
December 31, 2022		$	307.2			$	88.6			$	395.8