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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2022
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 |
June 30, 2022 |  | Level 1 |  |  | Level 2 |  |  | Fair Value |
Assets: |  |  |  |  |  |  |  |  |
Settlement assets: |  |  |  |  |  |  |  |  |
Measured at fair value through net income: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 6.6 |  |  | $ | — |  |  | $ | 6.6 |
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income): |  |  |  |  |  |  |  |  |
State and municipal debt securities |  |  | — |  |  |  | 1,256.0 |  |  |  | 1,256.0 |
State and municipal variable-rate demand notes |  |  | — |  |  |  | 89.8 |  |  |  | 89.8 |
Corporate debt securities |  |  | — |  |  |  | 57.5 |  |  |  | 57.5 |
United States government agency mortgage-backed securities |  |  | — |  |  |  | 19.0 |  |  |  | 19.0 |
Other assets: |  |  |  |  |  |  |  |  |
Derivatives |  |  | — |  |  |  | 214.8 |  |  |  | 214.8 |
Total assets |  | $ | 6.6 |  |  | $ | 1,637.1 |  |  | $ | 1,643.7 |
Liabilities: |  |  |  |  |  |  |  |  |
Other liabilities: |  |  |  |  |  |  |  |  |
Derivatives |  | $ | — |  |  | $ | 156.5 |  |  | $ | 156.5 |
Total liabilities |  | $ | — |  |  | $ | 156.5 |  |  | $ | 156.5 |
|  | 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 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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