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Settlement Assets and Obligations and Non-Settlement Related Investments (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Settlement assets and obligations
Settlement assets and obligations consisted of the following (in millions):
 
2018
 
2017
Settlement assets:
 
 
 
Cash and cash equivalents
$
1,255.6

 
$
1,264.8

Receivables from selling agents and Business Solutions customers
1,485.7

 
1,573.9

Investment securities
1,277.5

 
1,350.2

 
$
4,018.8

 
$
4,188.9

Settlement obligations:
 
 
 
Money transfer, money order, and payment service payables
$
2,679.9

 
$
2,789.2

Payables to agents
1,338.9

 
1,399.7

 
$
4,018.8

 
$
4,188.9
Components of investment securities, available-for-sale
The components of investment securities are as follows (in millions):
September 30, 2018
 
Amortized
Cost
 
 
Fair
Value
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Net
Unrealized Losses
Settlement assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents:
 
 
 
 
 
 
 
 
 
Money market funds
$
56.5

 
$
56.5

 
$
—

 
$
—

 
$
—

Available-for-sale securities:
 
 
 
 
 
 
 
 
 
State and municipal debt securities (a)
962.9

 
951.9

 
2.1

 
(13.1
)
 
(11.0
)
State and municipal variable rate demand notes
246.8

 
246.8

 
—

 
—

 
—

Corporate and other debt securities
70.2

 
69.3

 
—

 
(0.9
)
 
(0.9
)
United States Treasury securities
9.9

 
9.5

 
—

 
(0.4
)
 
(0.4
)
 
1,289.8

 
1,277.5

 
2.1

 
(14.4
)
 
(12.3
)
Other assets:
 
 
 
 
 
 
 
 
 
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
Foreign corporate debt securities
41.7

 
41.7

 
—

 
—

 
—

 
$
1,388.0

 
$
1,375.7

 
$
2.1

 
$
(14.4
)
 
$
(12.3
)
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
Amortized
Cost
 
 
Fair
Value
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Net
Unrealized
Gains/(Losses)
Settlement assets:
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
State and municipal debt securities (a)
$
955.7

 
$
960.0

 
$
7.9

 
$
(3.6
)
 
$
4.3

State and municipal variable rate demand notes
319.6

 
319.6

 
—

 
—

 
—

Corporate and other debt securities
60.9

 
60.8

 
0.2

 
(0.3
)
 
(0.1
)
United States Treasury securities
9.9

 
9.8

 
—

 
(0.1
)
 
(0.1
)
 
1,346.1

 
1,350.2

 
8.1

 
(4.0
)
 
4.1

Other assets:
 
 
 
 
 
 
 
 
 
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
Foreign corporate debt securities
56.2

 
56.2

 
—

 
—

 
—

 
$
1,402.3

 
$
1,406.4

 
$
8.1

 
$
(4.0
)
 
$
4.1

____________

(a)
The majority of these securities are fixed rate instruments.
Components of investment securities, held-to-maturity
The components of investment securities are as follows (in millions):
September 30, 2018
 
Amortized
Cost
 
 
Fair
Value
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Net
Unrealized Losses
Settlement assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents:
 
 
 
 
 
 
 
 
 
Money market funds
$
56.5

 
$
56.5

 
$
—

 
$
—

 
$
—

Available-for-sale securities:
 
 
 
 
 
 
 
 
 
State and municipal debt securities (a)
962.9

 
951.9

 
2.1

 
(13.1
)
 
(11.0
)
State and municipal variable rate demand notes
246.8

 
246.8

 
—

 
—

 
—

Corporate and other debt securities
70.2

 
69.3

 
—

 
(0.9
)
 
(0.9
)
United States Treasury securities
9.9

 
9.5

 
—

 
(0.4
)
 
(0.4
)
 
1,289.8

 
1,277.5

 
2.1

 
(14.4
)
 
(12.3
)
Other assets:
 
 
 
 
 
 
 
 
 
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
Foreign corporate debt securities
41.7

 
41.7

 
—

 
—

 
—

 
$
1,388.0

 
$
1,375.7

 
$
2.1

 
$
(14.4
)
 
$
(12.3
)
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
Amortized
Cost
 
 
Fair
Value
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Net
Unrealized
Gains/(Losses)
Settlement assets:
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
State and municipal debt securities (a)
$
955.7

 
$
960.0

 
$
7.9

 
$
(3.6
)
 
$
4.3

State and municipal variable rate demand notes
319.6

 
319.6

 
—

 
—

 
—

Corporate and other debt securities
60.9

 
60.8

 
0.2

 
(0.3
)
 
(0.1
)
United States Treasury securities
9.9

 
9.8

 
—

 
(0.1
)
 
(0.1
)
 
1,346.1

 
1,350.2

 
8.1

 
(4.0
)
 
4.1

Other assets:
 
 
 
 
 
 
 
 
 
Held-to-maturity securities:
 
 
 
 
 
 
 
 
 
Foreign corporate debt securities
56.2

 
56.2

 
—

 
—

 
—

 
$
1,402.3

 
$
1,406.4

 
$
8.1

 
$
(4.0
)
 
$
4.1

____________

(a)
The majority of these securities are fixed rate instruments.
Contractual maturities of debt securities
The following summarizes the contractual maturities of settlement-related debt securities as of September 30, 2018 (in millions):

 
Fair
Value
Due within 1 year
$
135.4

Due after 1 year through 5 years
497.2

Due after 5 years through 10 years
227.0

Due after 10 years
417.9

 
$
1,277.5