XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Restricted Securities Available for Sale | 3 Months Ended
--- | ---
Mar. 31, 2024
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, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Corporate bonds | $ | 44.7 |  |  | $ | — |  |  | $ | (0.7) |  |  | $ | 44.0 |
U.S. Government and agency securities | 35.1 |  |  | — |  |  | (0.8) |  |  | 34.3 |
Asset-backed securities | 20.8 |  |  | 0.1 |  |  | (0.2) |  |  | 20.7 |
Municipal securities | 0.8 |  |  | — |  |  | — |  |  | 0.8 |
Mortgage-backed securities | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total restricted securities available for sale | $ | 101.5 |  |  | $ | 0.1 |  |  | $ | (1.7) |  |  | $ | 99.9 |
(In millions) | As of December 31, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Corporate bonds | $ | 40.5 |  |  | $ | 0.3 |  |  | $ | (0.9) |  |  | $ | 39.9 |
U.S. Government and agency securities | 35.2 |  |  | 0.2 |  |  | (0.9) |  |  | 34.5 |
Asset-backed securities | 18.0 |  |  | 0.1 |  |  | (0.2) |  |  | 17.9 |
Municipal securities | 0.7 |  |  | — |  |  | — |  |  | 0.7 |
Mortgage-backed securities | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Total restricted securities available for sale | $ | 94.6 |  |  | $ | 0.6 |  |  | $ | (2.0) |  |  | $ | 93.2 |
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, 2024
| 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 | $ | 12.0 |  |  | $ | (0.1) |  |  | $ | 13.8 |  |  | $ | (0.6) |  |  | $ | 25.8 |  |  | $ | (0.7) |
U.S. Government and agency securities | 13.2 |  |  | (0.1) |  |  | 13.5 |  |  | (0.7) |  |  | 26.7 |  |  | (0.8) |
Asset-backed securities | 8.1 |  |  | — |  |  | 6.7 |  |  | (0.2) |  |  | 14.8 |  |  | (0.2) |
Mortgage-backed securities | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |  |  | — |
Total restricted securities available for sale | $ | 33.3 |  |  | $ | (0.2) |  |  | $ | 34.1 |  |  | $ | (1.5) |  |  | $ | 67.4 |  |  | $ | (1.7) |
(In millions) | Securities Available for Sale with Gross Unrealized Losses as of December 31, 2023
| 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 | $ | 2.7 |  |  | $ | — |  |  | $ | 18.4 |  |  | $ | (0.9) |  |  | $ | 21.1 |  |  | $ | (0.9) |
U.S. Government and agency securities | 6.8 |  |  | (0.1) |  |  | 16.4 |  |  | (0.8) |  |  | 23.2 |  |  | (0.9) |
Asset-backed securities | 1.6 |  |  | — |  |  | 7.3 |  |  | (0.2) |  |  | 8.9 |  |  | (0.2) |
Mortgage-backed securities | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |  |  | — |
Total restricted securities available for sale | $ | 11.1 |  |  | $ | (0.1) |  |  | $ | 42.3 |  |  | $ | (1.9) |  |  | $ | 53.4 |  |  | $ | (2.0) |
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, 2024 |  | December 31, 2023
Contractual Maturity |  | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | 4.8 |  |  | $ | 4.7 |  |  | $ | 6.9 |  |  | $ | 6.8 |
Over one year to five years |  | 87.6 |  |  | 86.1 |  |  | 80.5 |  |  | 79.1 |
Over five years to ten years |  | 9.0 |  |  | 9.0 |  |  | 7.1 |  |  | 7.2 |
Over ten years |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |
Total restricted securities available for sale |  | $ | 101.5 |  |  | $ | 99.9 |  |  | $ | 94.6 |  |  | $ | 93.2 |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration