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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

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, 2025		Level 1				Level 2				Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds		$	33.3			$	—			$	33.3
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities			—				1,103.1				1,103.1
Asset-backed securities			—				196.5				196.5
Corporate debt securities			—				151.6				151.6
United States government agency mortgage-backed securities			—				5.5				5.5
Other assets:
Derivatives			—				9.3				9.3
Total assets		$	33.3			$	1,466.0			$	1,499.3
Liabilities:
Other liabilities:
Derivatives		$	—			$	56.7			$	56.7
Total liabilities		$	—			$	56.7			$	56.7


		Fair Value Measurement Using								Total
December 31, 2024		Level 1				Level 2				Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds		$	32.6			$	—			$	32.6
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities			—				1,029.0				1,029.0
Asset-backed securities			—				211.2				211.2
Corporate debt securities			—				85.0				85.0
United States government agency mortgage-backed securities			—				7.1				7.1
Other assets:
Derivatives			—				29.5				29.5
Total assets		$	32.6			$	1,361.8			$	1,394.4
Liabilities:
Other liabilities:
Derivatives		$	—			$	3.6			$	3.6
Total liabilities		$	—			$	3.6			$	3.6