XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.25.1

INVESTMENTS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Carrying Amounts of Investment Securities and Fair Values | The amortized cost, gross unrealized gains and losses and estimated fair values of debt securities available-for-sale are as follows:
| As of March 31, 2025
| Amortized Cost |  |  |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (In millions)
Short-term investments | $ | 6.6 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 6.6 |
U.S. Treasury | 1.6 |  |  |  |  | — |  |  | — |  |  | 1.6 |
Municipal | 4.8 |  |  |  |  | 0.1 |  |  | — |  |  | 4.9 |
Corporate | 149.9 |  |  |  |  | 1.7 |  |  | (0.1) |  |  | 151.4 |
Mortgage and other asset-backed securities | 199.8 |  |  |  |  | 1.8 |  |  | (0.7) |  |  | 200.9 |
Total investments | $ | 362.7 |  |  |  |  | $ | 3.6 |  |  | $ | (0.8) |  |  | $ | 365.4 |
| As of December 31, 2024
| Amortized Cost |  |  |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (In millions)
Short-term investments | $ | 14.4 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 14.4 |
U.S. Treasury | 2.6 |  |  |  |  | — |  |  | — |  |  | 2.6 |
Municipal | 10.6 |  |  |  |  | 0.1 |  |  | (0.1) |  |  | 10.6 |
Corporate | 152.0 |  |  |  |  | 0.8 |  |  | (0.9) |  |  | 151.9 |
Mortgage and other asset-backed securities | 170.1 |  |  |  |  | 0.6 |  |  | (1.7) |  |  | 169.1 |
Total investments | $ | 349.8 |  |  |  |  | $ | 1.6 |  |  | $ | (2.7) |  |  | $ | 348.6 |
Schedule of Amortized Cost and Fair Value of TCA's Investment | A summary of amortized costs and fair value of investments by time to maturity, is as follows:
| As of March 31, 2025
| Amortized Cost |  | Fair Value
| (In millions)
Due in 1 year or less | $ | 6.6 |  |  | $ | 6.6 |
Due in 1-5 years | 103.6 |  |  | 104.7 |
Due in 6-10 years | 49.9 |  |  | 50.4 |
Due after 10 years | 2.8 |  |  | 2.8 |
Total by maturity | 162.9 |  |  | 164.5 |
Mortgage and other asset-backed securities | 199.8 |  |  | 200.9 |
Total investment securities | $ | 362.7 |  |  | $ | 365.4 |
Schedule of Unrealized Loss on Investments | The following tables summarize the amount of unrealized losses, defined as the amount by which the amortized cost exceeds fair value, and the related fair value of investments with unrealized losses. The investments were segregated into two categories: those that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 or more months. The reference point for determining how long an investment was in an unrealized loss position was March 31, 2025.
| As of March 31, 2025
| Less than 12 Months |  | Greater than 12 Months |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
| (In millions)
Short-term investments | $ | — |  |  | $ | — |  |  | $ | 2.1 |  |  | $ | — |  |  | $ | 2.1 |  |  | $ | — |
U.S. Treasury | — |  |  | — |  |  | 0.8 |  |  | — |  |  | 0.8 |  |  | — |
Municipal | — |  |  | — |  |  | 1.4 |  |  | — |  |  | 1.4 |  |  | — |
Corporate | 11.3 |  |  | (0.1) |  |  | 6.0 |  |  | (0.1) |  |  | 17.4 |  |  | (0.1) |
Mortgage and other asset-backed securities | 38.2 |  |  | (0.2) |  |  | 22.5 |  |  | (0.4) |  |  | 60.6 |  |  | (0.7) |
Total debt securities | $ | 49.5 |  |  | $ | (0.3) |  |  | $ | 32.9 |  |  | $ | (0.6) |  |  | $ | 82.4 |  |  | $ | (0.8) |
| As of December 31, 2024
| Less than 12 Months |  | Greater than 12 Months |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
| (In millions)
Short-term investments | $ | 0.3 |  |  | $ | — |  |  | $ | 3.9 |  |  | $ | — |  |  | $ | 4.1 |  |  | $ | — |
U.S. Treasury | 1.1 |  |  | — |  |  | 1.4 |  |  | — |  |  | 2.5 |  |  | — |
Municipal | 3.4 |  |  | (0.1) |  |  | 1.6 |  |  | — |  |  | 4.9 |  |  | (0.1) |
Corporate | 64.3 |  |  | (0.5) |  |  | 26.6 |  |  | (0.4) |  |  | 90.9 |  |  | (0.9) |
Mortgage and other asset-backed securities | 78.5 |  |  | (1.0) |  |  | 26.4 |  |  | (0.7) |  |  | 104.9 |  |  | (1.7) |
Total debt securities | $ | 147.5 |  |  | $ | (1.6) |  |  | $ | 59.8 |  |  | $ | (1.2) |  |  | $ | 207.3 |  |  | $ | (2.7) |

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration