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MARKETABLE INVESTMENT SECURITIES

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

MARKETABLE INVESTMENT SECURITIES

MARKETABLE INVESTMENT SECURITIES

At September 30, 2024, the Company had no investment securities outstanding. 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 December 31, 2023 were as follows:

(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 equivalents			2.2						—						—						2.2
Total cash and cash equivalents			132.1						—						—						132.1
Available-for-sale:
Corporate bonds and notes			8.4						—						(0.1)						8.3
Municipal bonds			0.5						—						—						0.5
Total			$	141.0					$	—					$	(0.1)					$	140.9

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

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- Definition

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

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