XML 40 R28.htm IDEA: XBRL DOCUMENT v3.22.4
Corporate Investments and Funds Held For Clients (Tables)
6 Months Ended
Dec. 31, 2022
Corporate Investments And Funds Held For Clients [Abstract]  
Debt Securities, Available-for-Sale
Corporate investments and funds held for clients at December 31, 2022 and June 30, 2022 were as follows:
 December 31, 2022
Amortized
Cost
Gross
Unrealized
 Gains
Gross
Unrealized
Losses
 Fair Market Value (A)
Type of issue:   
Money market securities, cash and other cash equivalents$13,282.5 $— $— $13,282.5 
Available-for-sale securities:
Corporate bonds16,154.2 1.4 (1,388.6)14,767.0 
U.S. Treasury securities6,803.3 0.1 (287.7)6,515.7 
Asset-backed securities1,576.0 0.3 (76.8)1,499.5 
Canadian government obligations and Canadian government agency obligations
1,979.4 — (147.3)1,832.1 
U.S. government agency securities1,688.3 — (187.1)1,501.2 
Canadian provincial bonds926.4 0.2 (77.8)848.8 
Commercial mortgage-backed securities752.5 — (50.3)702.2 
Other securities1,260.6 1.8 (89.5)1,172.9 
Total available-for-sale securities31,140.7 3.8 (2,305.1)28,839.4 
Total corporate investments and funds held for clients$44,423.2 $3.8 $(2,305.1)$42,121.9 
(A) Included within available-for-sale securities are corporate investments with fair values of $16.4 million and funds held for clients with fair values of $28,823.0 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
 June 30, 2022
Amortized 
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Market Value (B)
Type of issue:    
Money market securities, cash and other cash equivalents$22,783.0 $— $— $22,783.0 
Available-for-sale securities: 
Corporate bonds16,183.1 3.9 (1,083.0)15,104.0 
U.S. Treasury securities5,003.6 2.2 (171.1)4,834.7 
Asset-backed securities1,995.7 0.5 (58.8)1,937.4 
Canadian government obligations and Canadian government agency obligations
2,022.9 0.1 (123.5)1,899.5 
U.S. government agency securities1,728.2 0.1 (138.2)1,590.1 
Canadian provincial bonds994.3 0.4 (62.7)932.0 
Commercial mortgage-backed securities858.7 0.3 (29.9)829.1 
Other securities1,326.5 2.2 (63.9)1,264.8 
Total available-for-sale securities30,113.0 9.7 (1,731.1)28,391.6 
Total corporate investments and funds held for clients$52,896.0 $9.7 $(1,731.1)$51,174.6 
(B) Included within available-for-sale securities are corporate investments with fair values of $169.1 million and funds held for clients with fair values of $28,222.5 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of December 31, 2022, are as follows: 
December 31, 2022
Securities in Unrealized Loss Position Less Than 12 MonthsSecurities in Unrealized Loss Position Greater Than 12 MonthsTotal
Gross
Unrealized
Losses
Fair Market
Value
Gross
Unrealized
Losses
Fair Market
Value
Gross
Unrealized
Losses
Fair
Market Value
Corporate bonds$(552.1)$8,221.3 $(836.5)$6,457.6 $(1,388.6)$14,678.9 
U.S. Treasury securities(116.0)5,008.0 (171.7)1,495.8 (287.7)6,503.8 
Asset-backed securities(30.4)1,091.4 (46.4)371.0 (76.8)1,462.4 
Canadian government obligations and Canadian government agency obligations
(39.0)808.8 (108.3)1,019.9 (147.3)1,828.7 
U.S. government agency securities(61.0)586.0 (126.1)915.2 (187.1)1,501.2 
Canadian provincial bonds(29.6)503.0 (48.2)324.1 (77.8)827.1 
Commercial mortgage-backed securities(39.3)610.4 (11.0)91.8 (50.3)702.2 
Other securities(31.9)698.5 (57.6)388.5 (89.5)1,087.0 
 $(899.3)$17,527.4 $(1,405.8)$11,063.9 $(2,305.1)$28,591.3 

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, 2022, are as follows:
June 30, 2022
Securities in Unrealized Loss Position Less Than 12 MonthsSecurities in Unrealized Loss Position Greater Than 12 MonthsTotal
Gross
Unrealized
Losses
Fair Market
Value
Gross
Unrealized
Losses
Fair Market
Value
Gross
Unrealized
Losses
Fair
Market Value
Corporate bonds$(824.0)$11,525.4 $(259.0)$2,356.7 $(1,083.0)$13,882.1 
U.S. Treasury securities(126.4)2,919.6 (44.7)464.6 (171.1)3,384.2 
Asset-backed securities(52.6)1,444.9 (6.2)59.9 (58.8)1,504.8 
Canadian government obligations and Canadian government agency obligations
(110.0)1,782.6 (13.5)113.3 (123.5)1,895.9 
U.S. government agency securities(75.3)859.3 (62.9)695.6 (138.2)1,554.9 
Canadian provincial bonds(45.4)726.9 (17.3)133.2 (62.7)860.1 
Commercial mortgage-backed securities(29.5)802.8 (0.4)4.3 (29.9)807.1 
Other securities(42.6)737.3 (21.3)178.2 (63.9)915.5 
 $(1,305.8)$20,798.8 $(425.3)$4,005.8 $(1,731.1)$24,804.6 
Schedule Of Corporate Investments Text Block
Classification of corporate investments on the Consolidated Balance Sheets is as follows:
December 31,June 30,
20222022
Corporate investments:  
Cash and cash equivalents$1,345.0 $1,436.3 
Short-term marketable securities (a)16.4 47.0 
Long-term marketable securities (b)— 122.1 
Total corporate investments$1,361.4 $1,605.4 
 
(a) - Short-term marketable securities are included within Other current assets on the Consolidated Balance Sheets.
(b) - Long-term marketable securities are included within Other assets on the Consolidated Balance Sheets.
Schedule Of Investment Of Funds Held For Clients Text Block Funds held for clients have been invested in the following categories:
December 31,June 30,
20222022
Funds held for clients:  
Restricted cash and cash equivalents held to satisfy client funds obligations$11,937.5 $21,346.7 
Restricted short-term marketable securities held to satisfy client funds obligations3,294.3 4,263.1 
Restricted long-term marketable securities held to satisfy client funds obligations25,528.7 23,959.4 
Total funds held for clients$40,760.5 $49,569.2 
Schedule Of Expected Maturities Of Available For Sale Securities Text Block Expected maturities of available-for-sale securities at December 31, 2022 are as follows:
One year or less$3,310.7 
One year to two years5,854.5 
Two years to three years6,497.9 
Three years to four years5,978.0 
After four years7,198.3 
Total available-for-sale securities$28,839.4