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Settlement Assets and Obligations - Components of Investment Securities (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023
--- | --- | --- | ---
Cash and cash equivalents |  |  |  |
Amortized Cost |  | $ 1,106.5 | $ 1,268.6 | $ 1,228.6
Available-for-sale securities: |  |  |  |
Fair Value |  | 1,403.0 |  |
Settlement Assets |  |  |  |
Available-for-sale securities: |  |  |  |
Amortized Cost |  | 1,448.7 | 1,498.4 |
Fair Value |  | 1,403.0 | 1,458.2 |
Gross Unrealized Gains |  | 6.8 | 11.4 |
Gross Unrealized Losses |  | (52.5) | (51.6) |
Net Unrealized Gains/ (Losses) |  | (45.7) | (40.2) |
Amortized Cost |  | 1,461.7 | 1,510.2 |
Fair Value |  | 1,416.0 | 1,470.0 |
Gross Unrealized Gains |  | 6.8 | 11.4 |
Gross Unrealized Losses |  | (52.5) | (51.6) |
Net Unrealized Gains/ (Losses) |  | (45.7) | (40.2) |
Money market funds | Settlement Assets |  |  |  |
Cash and cash equivalents |  |  |  |
Amortized Cost |  | 13.0 | 11.8 |
Fair Value |  | 13.0 | 11.8 |
State and municipal debt securities | Settlement Assets |  |  |  |
Available-for-sale securities: |  |  |  |
Amortized Cost | [1] | 1,087.1 | 1,049.3 |
Fair Value | [1] | 1,044.8 | 1,011.4 |
Gross Unrealized Gains | [1] | 5.2 | 8.7 |
Gross Unrealized Losses | [1] | (47.5) | (46.6) |
Net Unrealized Gains/ (Losses) | [1] | (42.3) | (37.9) |
Asset-backed securities | Settlement Assets |  |  |  |
Available-for-sale securities: |  |  |  |
Amortized Cost |  | 212.9 | 194.5 |
Fair Value |  | 213.8 | 195.7 |
Gross Unrealized Gains |  | 1.0 | 1.2 |
Gross Unrealized Losses |  | (0.1) |  |
Net Unrealized Gains/ (Losses) |  | 0.9 | 1.2 |
Corporate debt securities | Settlement Assets |  |  |  |
Available-for-sale securities: |  |  |  |
Amortized Cost |  | 89.9 | 155.2 |
Fair Value |  | 86.2 | 152.2 |
Gross Unrealized Gains |  | 0.6 | 1.5 |
Gross Unrealized Losses |  | (4.3) | (4.5) |
Net Unrealized Gains/ (Losses) |  | (3.7) | (3.0) |
State and municipal variable-rate demand notes | Settlement Assets |  |  |  |
Available-for-sale securities: |  |  |  |
Amortized Cost |  | 47.7 | 86.8 |
Fair Value |  | 47.7 | 86.8 |
United States government agency mortgage-backed securities | Settlement Assets |  |  |  |
Available-for-sale securities: |  |  |  |
Amortized Cost |  | 11.1 | 12.6 |
Fair Value |  | 10.5 | 12.1 |
Gross Unrealized Losses |  | (0.6) | (0.5) |
Net Unrealized Gains/ (Losses) |  | $ (0.6) | $ (0.5) |
[1] | The majority of these securities are fixed-rate instruments.

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