CASH EQUIVALENT AND INVESTMENTS

3 Months Ended

Mar. 31, 2018

NOTE 7. CASH EQUIVALENTS AND INVESTMENTS

The table below provides additional information on the Company’s cash equivalents and investments:

	As of March 31, 2018
							Balance sheet location
	Cost		Gross Unrealized Gains		Fair Value		Cash and cash equivalents		Short-term investments		Other assets
Money market mutual funds	$	24.8	$	-	$	24.8	$	24.8	$	-	$	-
Certificates of deposit and money market deposit accounts ⁽¹⁾	$	281.7	$	-	$	281.7	$	176.6	$	100.5	$	4.6
Fixed maturity and open ended mutual funds ⁽²⁾	$	35.0	$	4.7	$	39.7	$	-	$	-	$	39.7

	As of December 31, 2017
							Balance sheet location
	Cost		Gross Unrealized Gains		Fair Value		Cash and cash equivalents		Short-term investments		Other assets
Money market mutual funds	$	42.2	$	-	$	42.2	$	42.2	$	-	$	-
Certificates of deposit and money market deposit accounts ⁽¹⁾	$	351.4	$	-	$	351.4	$	238.6	$	111.8	$	1.0
Fixed maturity and open ended mutual funds ⁽²⁾	$	16.8	$	4.3	$	21.1	$	-	$	-	$	21.1
(1) Consists of time deposits and money market deposit accounts. The remaining contractual maturities for the certificates of deposits classified as short-term investments were one to 12 month at both March 31, 2018 and December 31, 2017. The remaining contractual maturities for the certificates of deposits classified in other assets are 14 to 45 months at March 31, 2018 and 15 to 48 months at December 31, 2017. Time deposits with a maturity of less than 90 days at time of purchase are classified as cash and cash equivalents.
(2) Consists of investments in fixed maturity mutual funds and open-ended mutual funds. The remaining contractual maturities for the fixed maturity instruments range from three to four months and six months to seven months at March 31, 2018 and December 31, 2017 respectively.

As a result of the adoption of ASU 2016-01, as further discussed in Note 1 and Note 2, the money market mutual funds and the fixed maturity and open-ended mutual funds in the table above are deemed to be equity securities with readily determinable fair values with changes in the fair value recognized through net income under ASC Topic 321. The fair value of these instruments is determined using Level 1 inputs as defined in the ASC.