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v3.22.1

Restricted Securities Available for Sale | 3 Months Ended
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Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Restricted Securities Available for Sale | RESTRICTED SECURITIES AVAILABLE FOR SALE Restricted securities available for sale consist of the following:
(In millions) | As of March 31, 2022
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Corporate bonds | $ | 30.4 |  |  | $ | — |  |  | $ | (1.1) |  |  | $ | 29.3 |
U.S. Government and agency securities | 22.8 |  |  | — |  |  | (0.7) |  |  | 22.1 |
Asset-backed securities | 9.9 |  |  | — |  |  | (0.2) |  |  | 9.7 |
Commercial paper | 1.0 |  |  | — |  |  | — |  |  | 1.0 |
Mortgage-backed securities | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Total restricted securities available for sale | $ | 64.4 |  |  | $ | — |  |  | $ | (2.0) |  |  | $ | 62.4 |
(In millions) | As of December 31, 2021
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Corporate bonds | $ | 27.3 |  |  | $ | 0.3 |  |  | $ | (0.2) |  |  | $ | 27.4 |
U.S. Government and agency securities | 21.5 |  |  | 0.2 |  |  | (0.1) |  |  | 21.6 |
Asset-backed securities | 12.9 |  |  | — |  |  | (0.1) |  |  | 12.8 |
Mortgage-backed securities | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Total restricted securities available for sale | $ | 62.0 |  |  | $ | 0.5 |  |  | $ | (0.4) |  |  | $ | 62.1 |
The fair value and gross unrealized losses for restricted securities available for sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:
(In millions) | Securities Available for Sale with Gross Unrealized Losses as of March 31, 2022
| Less than 12 Months |  | 12 Months or More |  |  |  |
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Total Estimated Fair Value |  | Total Gross Unrealized Losses
Corporate bonds | $ | 21.2 |  |  | $ | (0.7) |  |  | $ | 4.6 |  |  | $ | (0.4) |  |  | $ | 25.8 |  |  | $ | (1.1) |
U.S. Government and agency securities | 19.2 |  |  | (0.7) |  |  | — |  |  | — |  |  | 19.2 |  |  | (0.7) |
Asset-backed securities | 8.3 |  |  | (0.2) |  |  | — |  |  | — |  |  | 8.3 |  |  | (0.2) |
Commercial paper | 1.0 |  |  | — |  |  | — |  |  | — |  |  | 1.0 |  |  | — |
Mortgage-backed securities | 0.3 |  |  | — |  |  | — |  |  | — |  |  | 0.3 |  |  | — |
Total restricted securities available for sale | $ | 50.0 |  |  | $ | (1.6) |  |  | $ | 4.6 |  |  | $ | (0.4) |  |  | $ | 54.6 |  |  | $ | (2.0) |
(In millions) | Securities Available for Sale with Gross Unrealized Losses as of December 31, 2021
| Less than 12 Months |  | 12 Months or More |  |  |  |
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Total Estimated Fair Value |  | Total Gross Unrealized Losses
Corporate bonds | $ | 15.0 |  |  | $ | (0.2) |  |  | $ | 1.3 |  |  | $ | — |  |  | $ | 16.3 |  |  | $ | (0.2) |
U.S. Government and agency securities | 10.1 |  |  | (0.1) |  |  | — |  |  | — |  |  | 10.1 |  |  | (0.1) |
Asset-backed securities | 8.4 |  |  | (0.1) |  |  | — |  |  | — |  |  | 8.4 |  |  | (0.1) |
Mortgage-backed securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total restricted securities available for sale | $ | 33.5 |  |  | $ | (0.4) |  |  | $ | 1.3 |  |  | $ | — |  |  | $ | 34.8 |  |  | $ | (0.4) |
The cost and estimated fair values of debt securities by contractual maturity were as follows (securities with multiple maturity dates are classified in the period of final maturity). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In millions) |  | As of
|  | March 31, 2022 |  | December 31, 2021
Contractual Maturity |  | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | 6.9 |  |  | $ | 6.9 |  |  | $ | 2.9 |  |  | $ | 3.0 |
Over one year to five years |  | 55.6 |  |  | 53.8 |  |  | 56.9 |  |  | 57.0 |
Over five years to ten years |  | 1.8 |  |  | 1.6 |  |  | 2.1 |  |  | 2.0 |
Over ten years |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |
Total restricted securities available for sale |  | $ | 64.4 |  |  | $ | 62.4 |  |  | $ | 62.0 |  |  | $ | 62.1 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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