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Restricted Securities Available for Sale

3 Months Ended

Mar. 31, 2025

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, 2025
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Estimated Fair Value
Corporate bonds			$	51.2					$	0.5					$	(0.2)					$	51.5
U.S. Government and agency securities			36.3						0.3						(0.1)						36.5
Asset-backed securities			19.1						0.2						—						19.3
Mortgage-backed securities			1.7						—						—						1.7
Total restricted securities available for sale			$	108.3					$	1.0					$	(0.3)					$	109.0
(In millions)			As of December 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Estimated Fair Value
Corporate bonds			$	49.4					$	0.2					$	(0.4)					$	49.2
U.S. Government and agency securities			35.6						0.1						(0.4)						35.3
Asset-backed securities			20.1						0.1						—						20.2
Mortgage-backed securities			1.7						—						—						1.7
Total restricted securities available for sale			$	106.8					$	0.4					$	(0.8)					$	106.4

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, 2025
			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			$	4.9					$	(0.1)					$	7.5					$	(0.1)					$	12.4					$	(0.2)
U.S. Government and agency securities			9.1						—						1.9						(0.1)						11.0						(0.1)
Asset-backed securities			1.6						—						3.3						—						4.9						—
Mortgage-backed securities			1.0						—						—						—						1.0						—
Total restricted securities available for sale			$	16.6					$	(0.1)					$	12.7					$	(0.2)					$	29.3					$	(0.3)

(In millions)			Securities Available for Sale with Gross Unrealized Losses as of December 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			$	13.1					$	(0.2)					$	8.4					$	(0.2)					$	21.5					$	(0.4)
U.S. Government and agency securities			19.8						(0.2)						4.9						(0.2)						24.7						(0.4)
Asset-backed securities			2.4						—						3.6						—						6.0						—
Mortgage-backed securities			1.7						—						—						—						1.7						—
Total restricted securities available for sale			$	37.0					$	(0.4)					$	16.9					$	(0.4)					$	53.9					$	(0.8)

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, 2025												December 31, 2024
Contractual Maturity						Amortized Cost						Estimated Fair Value						Amortized Cost						Estimated Fair Value
Within one year						$	12.7					$	12.7					$	9.5					$	9.4
Over one year to five years						85.0						85.6						84.7						84.3
Over five years to ten years						10.6						10.7						12.6						12.7
Over ten years						—						—						—						—
Total restricted securities available for sale						$	108.3					$	109.0					$	106.8					$	106.4

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- References

No definition available.

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- 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

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