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MARKETABLE INVESTMENT SECURITIES | 6 Months Ended
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Jun. 30, 2023
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, 2023 and December 31, 2022 were as follows:
(in millions) | Amortized cost |  | Gross unrealized holding gains |  | Gross unrealized holding losses |  | Estimated fair value
June 30, 2023 |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |
Cash | $ | 102.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 102.2 |
Cash equivalents | 0.6 |  |  | — |  |  | — |  |  | 0.6 |
Total cash and cash equivalents | 102.8 |  |  | — |  |  | — |  |  | 102.8 |
Available-for-sale: |  |  |  |  |  |  |
Corporate bonds and notes | 10.9 |  |  | — |  |  | (0.3) |  |  | 10.6 |
Municipal bonds | 8.1 |  |  | — |  |  | (0.1) |  |  | 8.0 |
Federal agency issues | 3.5 |  |  | — |  |  | (0.1) |  |  | 3.4 |
U.S. government securities | 3.0 |  |  | — |  |  | — |  |  | 3.0 |
Total | $ | 128.3 |  |  | $ | — |  |  | $ | (0.5) |  |  | $ | 127.8 |
(in millions) | Amortized cost |  | Gross unrealized holding gains |  | Gross unrealized holding losses |  | Estimated fair value
December 31, 2022 |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |
Cash | $ | 53.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 53.6 |
Cash equivalents | 3.3 |  |  | — |  |  | — |  |  | 3.3 |
Total cash and cash equivalents | 56.9 |  |  | — |  |  | — |  |  | 56.9 |
Available-for-sale: |  |  |  |  |  |  |
Corporate bonds and notes | 66.7 |  |  | — |  |  | (1.6) |  |  | 65.1 |
Municipal bonds | 16.3 |  |  | — |  |  | (0.3) |  |  | 16.0 |
Federal agency issues | 20.7 |  |  | — |  |  | (0.7) |  |  | 20.0 |
U.S. government securities | 11.8 |  |  | — |  |  | (0.1) |  |  | 11.7 |
Total | $ | 172.4 |  |  | $ | — |  |  | $ | (2.7) |  |  | $ | 169.7 |
Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at June 30, 2023:
(in millions) | Amortized cost |  | Estimated fair value
Cash | $ | 102.2 |  |  | $ | 102.2 |
Cash equivalents | 0.6 |  |  | 0.6 |
Available-for-sale: |  |  |
Due within one year | 19.0 |  |  | 18.8 |
Due after one year through five years | 6.5 |  |  | 6.2 |
Due after five years | — |  |  | — |
Total | $ | 128.3 |  |  | $ | 127.8 |
The cost of a security sold, or amount reclassified out of accumulated other comprehensive income or loss into net income, is determined based on the specific identification method. The Company does not intend to sell these available-for-sale debt securities, and it is not more likely than not that the Company will be required to sell these securities prior to recovery of their amortized cost basis. Additional information relating to fair value of marketable investment securities can be found in Note 4.

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