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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

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 category (in millions):


		Fair Value Measurement Using								Total
June 30, 2023		Level 1				Level 2				Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds		$	7.6				—			$	7.6
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities			—				1,019.3				1,019.3
Asset-backed securities			—				190.9				190.9
Corporate debt securities			—				147.5				147.5
State and municipal variable-rate demand notes			—				46.3				46.3
United States government agency mortgage-backed securities			—				16.0				16.0
Other assets:
Derivatives			—				80.8				80.8
Total assets		$	7.6			$	1,500.8			$	1,508.4
Liabilities:
Other liabilities:
Derivatives		$	—			$	70.3			$	70.3
Total liabilities		$	—			$	70.3			$	70.3


		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