Corporate Investments and Funds Held For Clients (Tables)

6 Months Ended

Dec. 31, 2016

Corporate Investments And Funds Held For Clients [Abstract]

Available-for-sale Securities

Corporate investments and funds held for clients at December 31, 2016 and June 30, 2016 were as follows:

	December 31, 2016
	Amortized Cost		Gross Unrealized  Gains		Gross Unrealized Losses			Fair Market Value (A)
Type of issue:
Money market securities, cash and other cash equivalents	$	11,721.5	$	—	$	—		$	11,721.5
Available-for-sale securities:
Corporate bonds	9,221.1		75.6		(49.2		)	9,247.5
U.S. government agency securities	3,833.5		21.6		(20.5		)	3,834.6
Asset-backed securities	4,260.5		10.5		(17.3		)	4,253.7
Canadian government obligations and Canadian government agency obligations	955.3		5.4		(5.8		)	954.9
Canadian provincial bonds	699.2		16.3		(1.2		)	714.3
U.S. Treasury securities	1,364.7		1.9		(21.6		)	1,345.0
Municipal bonds	614.5		7.9		(5.7		)	616.7
Other securities	485.7		8.0		(1.7		)	492.0
Total available-for-sale securities	21,434.5		147.2		(123.0		)	21,458.7
Total corporate investments and funds held for clients	$	33,156.0	$	147.2	$	(123.0	)	$	33,180.2

(A) Included within available-for-sale securities are corporate investments with fair values of $48.6 million and funds held for clients with fair values of $21,410.1 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.

	June 30, 2016
	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value (B)
Type of issue:
Money market securities, cash and other cash equivalents	$	15,458.6	$	—	$	—		$	15,458.6
Available-for-sale securities:
Corporate bonds	9,429.2		261.8		(0.6		)	9,690.4
U.S. government agency securities	4,298.8		91.3		—			4,390.1
Asset-backed securities	3,761.9		59.0		(0.3		)	3,820.6
Canadian government obligations and Canadian government agency obligations	995.1		12.8		—			1,007.9
Canadian provincial bonds	735.4		30.8		(0.1		)	766.1
U.S. Treasury securities	746.9		16.3		—			763.2
Municipal bonds	594.2		23.9		(0.3		)	617.8
Other securities	533.3		15.8		(0.2		)	548.9
Total available-for-sale securities	21,094.8		511.7		(1.5		)	21,605.0
Total corporate investments and funds held for clients	$	36,553.4	$	511.7	$	(1.5	)	$	37,063.6

(B) Included within available-for-sale securities are corporate investments with fair values of $31.3 million and funds held for clients with fair values of $21,573.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of December 31, 2016, are as follows: 

	December 31, 2016
	Securities in Unrealized Loss Position Less Than 12 Months					Securities in Unrealized Loss Position Greater Than 12 Months					Total
	Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value
Corporate bonds	$	(49.2	)	$	3,958.2	$	—		$	22.5	$	(49.2	)	$	3,980.7
U.S. government agency securities	(20.5		)	1,765.9		—			—		(20.5		)	1,765.9
Asset-backed securities	(17.2		)	2,264.8		(0.1		)	77.8		(17.3		)	2,342.6
Canadian government obligations and Canadian government agency obligations	(5.8		)	501.5		—			—		(5.8		)	501.5
Canadian provincial bonds	(1.2		)	180.4		—			7.6		(1.2		)	188.0
U.S. Treasury securities	(21.6		)	1,186.7		—			—		(21.6		)	1,186.7
Municipal bonds	(5.4		)	275.7		(0.3		)	6.6		(5.7		)	282.3
Other securities	(1.5		)	82.1		(0.2		)	8.9		(1.7		)	91.0
	$	(122.4	)	$	10,215.3	$	(0.6	)	$	123.4	$	(123.0	)	$	10,338.7

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2016, are as follows:

	June 30, 2016
	Securities in Unrealized Loss Position Less Than 12 Months					Securities in Unrealized Loss Position Greater Than 12 Months					Total
	Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value
Corporate bonds	$	(0.5	)	$	138.0	$	(0.1	)	$	35.1	$	(0.6	)	$	173.1
U.S. government agency securities	—			—		—			—		—			—
Asset-backed securities	(0.1		)	58.8		(0.2		)	154.8		(0.3		)	213.6
Canadian government obligations and Canadian government agency obligations	—			53.2		—			—		—			53.2
Canadian provincial bonds	(0.1		)	19.1		—			7.8		(0.1		)	26.9
U.S. Treasury securities	—			3.4		—			1.6		—			5.0
Municipal bonds	—			12.9		(0.3		)	10.6		(0.3		)	23.5
Other securities	(0.1		)	10.5		(0.1		)	8.0		(0.2		)	18.5
	$	(0.8	)	$	295.9	$	(0.7	)	$	217.9	$	(1.5	)	$	513.8

Classification Of Corporate Investments On The Consolidated Balance Sheets

Classification of corporate investments on the Consolidated Balance Sheets is as follows:

	December 31,		June 30,
	2016		2016
Corporate investments:
Cash and cash equivalents	$	2,705.2	$	3,191.1
Short-term marketable securities (a)	41.0		23.5
Long-term marketable securities (b)	7.6		7.8
Total corporate investments	$	2,753.8	$	3,222.4

Schedule Of Investment Of Funds Held For Clients

Funds held for clients have been invested in the following categories:

	December 31,		June 30,
	2016		2016
Funds held for clients:
Restricted cash and cash equivalents held to satisfy client funds obligations	$	9,016.3	$	12,267.5
Restricted short-term marketable securities held to satisfy client funds obligations	2,977.3		3,032.1
Restricted long-term marketable securities held to satisfy client funds obligations	18,432.8		18,541.6
Total funds held for clients	$	30,426.4	$	33,841.2

Expected Maturities Of Available-For-Sale Securities

Expected maturities of available-for-sale securities at December 31, 2016 are as follows:

One year or less	$	3,018.3
One year to two years	2,403.8
Two years to three years	4,199.7
Three years to four years	4,768.4
After four years	7,068.5
Total available-for-sale securities	$	21,458.7