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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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