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Marketable Securities
 12 Months Ended
Dec. 31, 2019
Marketable Securities [Abstract]  
Marketable Securities MARKETABLE SECURITIES
The company has equity securities, available-for-sale debt securities and mutual funds classified as marketable securities on our consolidated balance sheets. The amortized cost and fair value of equity securities and available-for-sale debt securities at December 31 were as follows: 
 
 
2019
 
2018
(in millions)
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Corporate debt securities (1)
 
$
15.8

 
$
16.7

 
$
18.2

 
$
18.1

Municipal debt securities
 
—

 
—

 
1.5

 
1.7

Asset-backed security
 
0.5

 
0.3

 
0.6

 
0.3

Equity securities
 
—

 
0.1

 
—

 
0.1

Total
 
$
16.3

 
$
17.1

 
$
20.3

 
$
20.2

 _______________
(1) The corporate debt securities are maintained for a non-qualified retirement and benefit plan under the COMEX Members' Recognition and Retention Plan (MRRP) (note 12).
Net unrealized gains (losses) on marketable debt securities classified as available-for-sale are reported as a component of other comprehensive income (loss) and included on the accompanying consolidated statements of comprehensive income and consolidated statements of equity. Changes in the fair value of equity securities are recognized within investment income on the consolidated statements of income.
The fair value and gross unrealized losses of our asset-backed security was $0.3 million and $0.2 million, respectively, at December 31, 2019. The asset-backed security was in an unrealized loss position for more than 12 months at December 31, 2019 and was deemed not to be other-than-temporarily impaired. The company does not intend to sell and is not required to sell these securities prior to maturity.
The amortized cost and fair value of the corporate debt securities and asset-backed security at December 31, 2019, by contractual maturity, were as follows:
(in millions)
 
Amortized
Cost
 
Fair
Value
Maturity of one year or less
 
$
1.8

 
$
1.8

Maturity between one and five years
 
5.3

 
5.4

Maturity between five and ten years
 
2.8

 
2.9

Maturity greater than ten years
 
6.4

 
6.9

Total
 
$
16.3

 
$
17.0


The company maintains additional investments in a diverse portfolio of mutual funds related to its non-qualified deferred compensation plans (note 12). These securities are classified as trading securities. The fair value of these securities was $66.1 million and $52.7 million at December 31, 2019 and 2018, respectively.