Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s assets and liabilities, which are measured at fair value on a recurring basis, by category (in millions):

	Fair Value Measurement Using				Total
September 30, 2022	Level 1		Level 2		Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds	$	1.8	$	—	$	1.8
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities		—		1,012.5		1,012.5
Corporate debt securities		—		110.3		110.3
State and municipal variable-rate demand notes		—		97.5		97.5
United States government agency mortgage-backed securities		—		23.4		23.4
Other assets:
Derivatives		—		328.2		328.2
Total assets	$	1.8	$	1,571.9	$	1,573.7
Liabilities:
Other liabilities:
Derivatives	$	—	$	242.3	$	242.3
Total liabilities	$	—	$	242.3	$	242.3

	Fair Value Measurement Using				Total
December 31, 2021	Level 1		Level 2		Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds	$	7.9	$	—	$	7.9
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities		—		1,219.9		1,219.9
State and municipal variable-rate demand notes		—		84.8		84.8
Corporate and other debt securities		—		57.8		57.8
United States government agency mortgage-backed securities		—		36.4		36.4
Other assets:
Derivatives		—		247.7		247.7
Total assets	$	7.9	$	1,646.6	$	1,654.5
Liabilities:
Other liabilities:
Derivatives	$	—	$	183.8	$	183.8
Total liabilities	$	—	$	183.8	$	183.8