Marketable Investment Securities

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

MARKETABLE INVESTMENT SECURITIES

The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at March 31, 2022 and December 31, 2021 were as follows:


(in millions)	Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
March 31, 2022
Cash and cash equivalents:
Cash	$	138.0	$	—	$	—	$	138.0
Cash equivalents	27.2		—		—		27.2
Total cash and cash equivalents	165.2		—		—		165.2
Available-for-sale:
Corporate bonds and notes	109.1		—		(1.0)		108.1
Municipal bonds	21.6		—		(0.2)		21.4
Federal agency issues	18.0		—		(0.3)		17.7
US government securities	27.0		—		(0.2)		26.8
Total	$	340.9	$	—	$	(1.7)	$	339.2


(in millions)	Amortized cost		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
December 31, 2021:
Cash and cash equivalents:
Cash	$	195.2	$	—	$	—	$	195.2
Cash equivalents	63.2		—		—		63.2
Total cash and cash equivalents	258.4		—		—		258.4
Available-for-sale:
Corporate bonds and notes	105.7		0.1		(0.2)		105.6
Municipal bonds	16.1		—		—		16.1
Federal agency issues	6.8		—		—		6.8
US government securities	11.9		—		—		11.9
Total	$	398.9	$	0.1	$	(0.2)	$	398.8

Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at March 31, 2022:


(in millions)	Amortized cost		Estimated fair value
Cash	$	138.0	$	138.0
Cash equivalents	27.2		27.2
Available-for-sale:
Due within one year	103.4		103.2
Due after one year through five years	72.3		70.8
Due after five years	—		—
Total	$	340.9	$	339.2

Additional information relating to fair value of marketable investment securities can be found in Note 4.