XML 44 R10.htm IDEA: XBRL DOCUMENT v3.23.2
MARKETABLE INVESTMENT SECURITIES
 6 Months Ended
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 equivalents0.6 — — 0.6 
Total cash and cash equivalents102.8 — — 102.8 
Available-for-sale:
Corporate bonds and notes10.9 — (0.3)10.6 
Municipal bonds8.1 — (0.1)8.0 
Federal agency issues3.5 — (0.1)3.4 
U.S. government securities3.0 — — 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 equivalents3.3 — — 3.3 
Total cash and cash equivalents56.9 — — 56.9 
Available-for-sale:
Corporate bonds and notes66.7 — (1.6)65.1 
Municipal bonds16.3 — (0.3)16.0 
Federal agency issues20.7 — (0.7)20.0 
U.S. government securities11.8 — (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 equivalents0.6 0.6 
Available-for-sale:
Due within one year19.0 18.8 
Due after one year through five years6.5 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.