MARKETABLE INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security

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

Schedule of Cash, Cash Equivalents, and Maturities of Debt Securities Classified as Available-For-Sale Securities

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