Investments (Tables)

6 Months Ended

Jun. 30, 2018

Investments Debt And Equity Securities [Abstract]

Summary of Investments

Investments are as follows (in millions):

	June 30, 2018
Investments in unconsolidated affiliates	$	262.5
Partnership interests in private equity funds		119.6
Marketable equity securities		46.1
Non-marketable equity securities		44.0
Seed capital investments		10.1
Other investments		1.3
Total investments	$	483.6

Schedule of Investments in Unconsolidated Affiliates

Investments in unconsolidated affiliates are as follows (in millions):

		Carrying Value		Excess carrying value of investment over proportionate share of net assets
	Ownership Percentage	June 30, 2018		June 30, 2018
International Financial Data Services L.P.	50%	$	95.0	$	50.0
Pershing Road Development Company, LLC	50%		79.4		79.1
Broadway Square Partners, LLP	50%		72.8		39.6
Other unconsolidated affiliates			15.3		0.3
Total		$	262.5	$	169.0

Schedule of Equity in Earnings of Unconsolidated Affiliates

Equity in earnings of unconsolidated affiliates are as follows (in millions):

	For the Three Months Ended June 30,			For the Six Months Ended June 30,
	2018			2018
International Financial Data Services L.P.	$	1.1		$	1.1
Pershing Road Development Company, LLC		(0.5	)		(0.5	)
Broadway Square Partners, LLP		0.1			0.1
Other unconsolidated affiliates		0.4			0.4
Total	$	1.1		$	1.1

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table present assets and liabilities measured at fair value on a recurring basis (in millions):

				Fair Value Measurements at Reporting Date Using
	June 30, 2018			Quoted prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Money market funds (1)	$	538.1		$	538.1		$	—		$	—
Marketable equity securities (2)		46.1			46.1			—			—
Seed capital investments (2)		10.1			10.1			—			—
Deferred compensation liabilities (3)		(32.1	)		(32.1	)		—			—
Derivative instruments (4)		(1.3	)		—			(1.3	)		—
Total	$	560.9		$	562.2		$	(1.3	)	$	—

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(1) Included in Cash and cash equivalents and Funds receivable and held on behalf of clients on the Condensed Consolidated Balance Sheet.

(2) Included in Investments on the Condensed Consolidated Balance Sheet.

(3) Included in Other long-term liabilities on the Condensed Consolidated Balance Sheet.

(4) Included in Other accrued expenses on the Condensed Consolidated Balance Sheet.