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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Measurements

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s assets and liabilities which are measured at fair value on a recurring basis, by balance sheet line item (in millions):


		Fair Value Measurement Using								Total
December 31, 2021		Level 1				Level 2				Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds		$	7.9			$	—			$	7.9
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities			—				1,219.9				1,219.9
State and municipal variable-rate demand notes			—				84.8				84.8
Corporate and other debt securities			—				57.8				57.8
United States government agency mortgage-backed securities			—				36.4				36.4
Other assets:
Derivatives			—				247.7				247.7
Total assets		$	7.9			$	1,646.6			$	1,654.5
Liabilities:
Other liabilities:
Derivatives		$	—			$	183.8			$	183.8
Total liabilities		$	—			$	183.8			$	183.8


		Fair Value Measurement Using								Total
December 31, 2020		Level 1				Level 2				Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds		$	13.1			$	—			$	13.1
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities			—				1,303.9				1,303.9
State and municipal variable-rate demand notes			—				562.1				562.1
Corporate and other debt securities			—				72.8				72.8
United States government agency mortgage-backed securities			—				51.8				51.8
Other assets:
Derivatives			—				453.3				453.3
Total assets		$	13.1			$	2,443.9			$	2,457.0
Liabilities:
Other liabilities:
Derivatives		$	—			$	430.3			$	430.3
Total liabilities		$	—			$	430.3			$	430.3