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MARKETABLE INVESTMENT SECURITIES
6 Months Ended
Jun. 30, 2024
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 debt securities classified as available-for-sale securities by major security type and class of security at June 30, 2024 and December 31, 2023 were as follows:
(in millions)Amortized
cost
Gross
unrealized
holding
gains
Gross
unrealized
holding
losses
Estimated
fair value
June 30, 2024
Cash and cash equivalents:
Cash$88.3 $— $— $88.3 
Cash equivalents6.4 — — 6.4 
Total cash and cash equivalents94.7 — — 94.7 
Reclassification to assets held for sale
(2.3)— — (2.3)
Total cash and cash equivalents
92.4— — 92.4
Available-for-sale:
Corporate bonds and notes4.3 — — 4.3 
Municipal bonds0.6 — — 0.6 
Total$97.3 $— $— $97.3 
(in millions)Amortized
cost
Gross
unrealized
holding
gains
Gross
unrealized
holding
losses
Estimated
fair value
December 31, 2023
Cash and cash equivalents:
Cash$129.9 $— $— $129.9 
Cash equivalents2.2 — — 2.2 
Total cash and cash equivalents132.1 — — 132.1 
Available-for-sale:
Corporate bonds and notes8.4 — (0.1)8.3 
Municipal bonds0.5 — — 0.5 
Total$141.0 $— $(0.1)$140.9 
Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at June 30, 2024:
(in millions)Amortized
cost
Estimated
fair value
Cash$88.3 $88.3 
Cash equivalents6.4 6.4 
Available-for-sale:
Due within one year4.9 4.9 
Total99.6 99.6 
Reclassification to assets held for sale(2.3)(2.3)
Total cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities
$97.3 $97.3 
The cost of a security sold, or amount reclassified out of accumulated other comprehensive income or loss into net loss, 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.