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INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments in Debt Securities
Investments in debt securities at the end of each period were as follows (in millions):
 March 31, 2024December 31, 2023
Held-to-maturityAmortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Bank time deposits$56.0 $— $— $56.0 $64.5 $— $— $64.5 
Available-for-sale
U.S. government and agency securities63.8 — (2.4)61.4 72.7 0.1 (2.8)70.0 
Asset-backed securities148.0 — (3.8)144.2 192.1 — (7.8)184.3 
Corporate debt securities553.1 0.1 (11.7)541.5 658.5 — (16.7)641.8 
Municipal securities2.8 — (0.1)2.7 2.8 — (0.2)2.6 
Total$767.7 $0.1 $(18.0)$749.8 $926.1 $0.1 $(27.5)$898.7 
Schedule of Cost and Fair Value of Investments in Debt Securities, by Contractual Maturity
The cost and fair value of investments in debt securities, by contractual maturity, as of March 31, 2024, were as follows:
Held-to-MaturityAvailable-for-Sale
 Amortized CostFair ValueAmortized CostFair Value
 (in millions)
Due in 1 year or less$56.0 $56.0 $422.8 $417.0 
Due after 1 year through 5 years— — 181.6 174.8 
Instruments not due at a single maturity date (a)
— — 163.3 158.0 
$56.0 $56.0 $767.7 $749.8 
_______________________________________
(a)     Consists of mortgage-backed and asset-backed securities.
Schedule of Gross Unrealized Losses and Fair Values for Investments in Unrealized Loss Position
The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2024 and December 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in millions):

March 31, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
U.S. government and agency securities$— $— $58.5 $(2.4)$58.5 $(2.4)
Asset-backed securities12.2 (0.1)130.7 (3.7)142.9 (3.8)
Corporate debt securities— — 430.3 (11.7)430.3 (11.7)
Municipal securities— — 2.6 (0.1)2.6 (0.1)
$12.2 $(0.1)$622.1 $(17.9)$634.3 $(18.0)
December 31, 2023
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
U.S. government and agency securities$— $— $67.1 $(2.8)$67.1 $(2.8)
Asset-backed securities10.2 (1.8)172.7 (6.0)182.9 (7.8)
Corporate debt securities25.0 (0.1)601.3 (16.6)626.3 (16.7)
Municipal securities— — 2.6 (0.2)2.6 (0.2)
$35.2 $(1.9)$843.7 $(25.6)$878.9 $(27.5)
Schedule of Investments in Unconsolidated Affiliates These investments are recorded in Long-term Investments on the consolidated condensed balance sheets, and are as follows:
 March 31,
2024
December 31,
2023
 (in millions)
Equity method investments  
Carrying value of equity method investments$34.1 $33.6 
Equity securities  
Carrying value of non-marketable equity securities88.7 87.6 
Total investments in unconsolidated entities$122.8 $121.2