XML 55 R35.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

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 category (in millions):


		Fair Value Measurement Using								Total
December 31, 2022		Level 1				Level 2				Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds		$	11.7			$	—			$	11.7
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities			—				933.3				933.3
Asset-backed securities			—				184.1				184.1
Corporate debt securities			—				146.9				146.9
State and municipal variable-rate demand notes			—				48.9				48.9
United States government agency mortgage-backed securities			—				20.5				20.5
Other assets:
Derivatives			—				126.1				126.1
Total assets		$	11.7			$	1,459.8			$	1,471.5
Liabilities:
Other liabilities:
Derivatives		$	—			$	98.9			$	98.9
Total liabilities		$	—			$	98.9			$	98.9


		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