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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-Sale Securities
(in millions)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses
Fair Value(1)
As of March 31, 2026
Current:
Available-for-sale debt securities(2):
U.S. treasury notes
$417.8 $0.4 $16.8 $401.4 
Corporate and sovereign debt securities
1,596.2 15.4 15.2 1,596.3 
Municipal bonds70.6 0.7 3.1 68.2 
Asset-backed securities
1,018.8 2.8 4.4 1,017.1 
Mortgage-backed securities
1,714.9 10.4 32.9 1,692.4 
Total current investment securities$4,818.2 $29.6 $72.4 $4,775.4 
Non-current:
Available-for-sale debt securities(3)
$53.6 $0.1 $1.6 $52.2 
Equity securities(4):
Mutual fund27.7 
Pooled investment fund12.9 
Total non-current investment securities$92.8 

(in millions)
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses
Fair
Value(1)
As of December 31, 2025
Current:
Available-for-sale debt securities:
U.S. treasury notes$412.4 $1.0 $15.9 $397.5 
Corporate and sovereign debt securities
1,322.8 29.7 2.9 1,349.6 
Municipal bonds68.7 0.8 2.9 66.6 
Asset-backed securities865.3 5.6 2.7 868.2 
Mortgage-backed securities1,659.6 17.1 25.7 1,651.0 
Total current investment securities$4,328.8 $54.3 $50.2 $4,332.9 
Non-current:
Available-for-sale debt securities(3)
$54.8 $0.2 $1.3 $53.7 
Equity securities(4):
Mutual fund27.6 
Pooled investment fund12.9 
Total non-current investment securities$94.2 
(1)The Company’s methods for measuring the fair value of its investment securities are discussed in Note 13, Financial Instruments − Fair Value and Concentrations of Credit Risk.
(2)As of March 31, 2026, the Company has pledged available-for-sale debt securities with a fair value of $86.5 million as collateral against recurring settlement obligations owed in conjunction with its transactions processed through licensed card networks and $1.8 billion as collateral for FHLB advances, as further discussed in Note 10, Financing and Other Debt.
(3)The fair value of available-for-sale debt securities at March 31, 2026, was comprised of municipal bonds of $44.9 million and mortgage-backed securities of $7.3 million. The fair value of available-for-sale debt securities at December 31, 2025 was comprised of municipal bonds of $45.3 million and mortgage-backed securities of $8.4 million.
(4)Excludes $16.7 million and $18.4 million in equity securities as of March 31, 2026 and December 31, 2025, respectively, included in prepaid expenses and other current assets and other assets on the condensed consolidated balance sheets.
Schedule of Estimated Fair Value and Gross Unrealized Losses of Debt Securities in an Unrealized Loss Position
The following tables present estimated fair value and gross unrealized losses of available-for-sale debt securities in an unrealized loss position for less than and greater than one year for which an allowance for credit losses has not been recorded, aggregated by security category. There are no expected credit losses that have been recorded against our investment securities as of March 31, 2026 and December 31, 2025.
 
As of March 31, 2026
 Less Than One YearOne Year or LongerTotal
(in millions)Fair Value
Gross
Unrealized
Losses
Fair Value
Gross
Unrealized
Losses
Fair Value
Gross
Unrealized
Losses
Investment-grade rated debt securities:
U.S. treasury notes$44.5 $0.4 $330.3 $16.4 $374.8 $16.8 
Corporate and sovereign debt securities832.2 13.1 33.4 2.1 865.6 15.2 
Municipal bonds55.3 1.2 31.2 3.3 86.5 4.5 
Asset-backed securities508.9 3.2 14.4 1.2 523.3 4.4 
Mortgage-backed securities700.7 8.0 417.3 25.1 1,118.0 33.1 
Total available-for-sale debt securities$2,141.6 $25.8 $826.5 $48.1 $2,968.1 $74.0 
As of December 31, 2025
Less Than One YearOne Year or LongerTotal
(in millions)Fair Value
Gross
Unrealized
Losses
Fair Value
Gross
Unrealized
Losses
Fair Value
Gross
Unrealized
Losses
Investment-grade rated debt securities:
U.S. treasury notes$7.4 $0.1 $330.8 $15.8 $338.2 $15.9 
Corporate and sovereign debt securities147.5 0.7 47.3 2.3 194.8 3.0 
Municipal bonds50.5 0.7 34.6 3.3 85.1 4.0 
Asset-backed securities134.5 2.1 22.5 0.6 157.0 2.7 
Mortgage-backed securities227.4 1.4 477.7 24.5 705.1 25.9 
Total available-for-sale debt securities$567.3 $5.0 $912.8 $46.5 $1,480.2 $51.5 
Schedule of Maturity Dates of Available-for-Sale Securities
The following table summarizes the contractual maturity dates of the Company’s available-for-sale debt securities.
 March 31, 2026
(in millions)
Amortized Cost
Fair Value
Due within one year$107.7 $106.7 
Due after 1 year through year 5841.5 828.9 
Due after 5 years through year 101,262.7 1,258.9 
Due after 10 years2,659.9 2,633.1 
Total$4,871.8 $4,827.6