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Marketable Investment Securities

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable Investment Securities

MARKETABLE INVESTMENT SECURITIES

The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at June 30, 2022 and December 31, 2021 were as follows:

(in millions)			Amortized cost						Gross unrealized holding gains						Gross unrealized holding losses						Estimated fair value
June 30, 2022
Cash and cash equivalents:
Cash			$	81.1					$	—					$	—					$	81.1
Cash equivalents			24.1						—						—						24.1
Total cash and cash equivalents			105.2						—						—						105.2
Available-for-sale:
Corporate bonds and notes			96.5						—						(1.5)						95.0
Municipal bonds			31.1						—						(0.2)						30.9
Federal agency issues			21.9						—						(0.4)						21.5
US government securities			31.3						—						(0.3)						31.0
Total			$	286.0					$	—					$	(2.4)					$	283.6

(in millions)			Amortized cost						Gross unrealized holding gains						Gross unrealized holding losses						Estimated fair value
December 31, 2021
Cash and cash equivalents:
Cash			$	195.2					$	—					$	—					$	195.2
Cash equivalents			63.2						—						—						63.2
Total cash and cash equivalents			258.4						—						—						258.4
Available-for-sale:
Corporate bonds and notes			105.7						0.1						(0.2)						105.6
Municipal bonds			16.1						—						—						16.1
Federal agency issues			6.8						—						—						6.8
US government securities			11.9						—						—						11.9
Total			$	398.9					$	0.1					$	(0.2)					$	398.8

Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at June 30, 2022:

(in millions)			Amortized cost						Estimated fair value
Cash			$	81.1					$	81.1
Cash equivalents			24.1						24.1
Available-for-sale:
Due within one year			100.5						99.9
Due after one year through five years			80.1						78.3
Due after five years			0.2						0.2
Total			$	286.0					$	283.6

Additional information relating to fair value of marketable investment securities can be found in Note 4.

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- References

No definition available.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2176304

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

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