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Settlement Assets and Obligations - Components of Investment Securities (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021
--- | --- | --- | ---
Cash and cash equivalents |  |  |  |  |
Amortized Cost |  | $ 1,176.1 |  | $ 1,208.3 | $ 1,003.4
Available-for-sale securities: |  |  |  |  |
Amortized Cost |  | 1,334.4 |  | 1,361.1 |
Fair Value |  | 1,243.7 |  | 1,398.9 |
Gross Unrealized Gains |  |  |  | 40.8 |
Gross Unrealized Losses |  | (90.7) | [1] | (3.0) |
Net Unrealized Gains/ (Losses) |  | (90.7) |  | 37.8 |
Amortized Cost |  | 1,336.2 |  | 1,369.0 |
Fair Value |  | 1,245.5 |  | 1,406.8 |
Gross Unrealized Gains |  |  |  | 40.8 |
Gross Unrealized Losses |  | (90.7) | [1] | (3.0) |
Net Unrealized Gains/ (Losses) |  | (90.7) |  | 37.8 |
Money market funds | Settlement Assets |  |  |  |  |
Cash and cash equivalents |  |  |  |  |
Amortized Cost |  | 1.8 |  | 7.9 |
Fair Value |  | 1.8 |  | 7.9 |
State and municipal debt securities |  |  |  |  |
Available-for-sale securities: |  |  |  |  |
Amortized Cost | [2] | 1,094.1 |  | 1,182.6 |
Fair Value | [2] | 1,012.5 |  | 1,219.9 |
Gross Unrealized Gains | [2] |  |  | 39.8 |
Gross Unrealized Losses | [2] | (81.6) | [1] | (2.5) |
Net Unrealized Gains/ (Losses) | [2] | (81.6) |  | 37.3 |
State and municipal variable rate demand notes |  |  |  |  |
Available-for-sale securities: |  |  |  |  |
Amortized Cost |  | 97.5 |  | 84.8 |
Fair Value |  | 97.5 |  | 84.8 |
Corporate debt securities |  |  |  |  |
Available-for-sale securities: |  |  |  |  |
Amortized Cost |  | 117.9 |  |  |
Fair Value |  | 110.3 |  |  |
Gross Unrealized Losses | [1] | (7.6) |  |  |
Net Unrealized Gains/ (Losses) |  | (7.6) |  |  |
Corporate and other debt securities |  |  |  |  |
Available-for-sale securities: |  |  |  |  |
Amortized Cost |  |  |  | 58.1 |
Fair Value |  |  |  | 57.8 |
Gross Unrealized Gains |  |  |  | 0.2 |
Gross Unrealized Losses |  |  |  | (0.5) |
Net Unrealized Gains/ (Losses) |  |  |  | (0.3) |
United States government agency mortgage-backed securities |  |  |  |  |
Available-for-sale securities: |  |  |  |  |
Amortized Cost |  | 24.9 |  | 35.6 |
Fair Value |  | 23.4 |  | 36.4 |
Gross Unrealized Gains |  |  |  | 0.8 |
Gross Unrealized Losses | [1] | (1.5) |  |  |
Net Unrealized Gains/ (Losses) |  | $ (1.5) |  | $ 0.8 |
[1] | As of September 30, 2022, the Company held 430 investment securities that were in an unrealized loss position, 386 of which have a total fair value of $918.2 million and unrealized losses of $77.7 million and have been in a loss position for less than twelve months and 44 of which have a total fair value of $80.5 million and unrealized losses of $13.0 million and have been in a loss position for greater than twelve months. As discussed above, the Company's provision for credit losses on its investment securities for the three and nine months ended September 30, 2022 and the related allowance for credit losses as of September 30, 2022 were immaterial, as the increase in unrealized losses was driven by a rise in U.S. Treasury interest rates over the nine months ended September 30, 2022.
[2] | The substantial majority of these securities are fixed-rate instruments.

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