FINANCIAL INVESTMENTS

3 Months Ended

Mar. 31, 2020

INVESTMENTS

FINANCIAL INVESTMENTS

5.   FINANCIAL INVESTMENTS

The Company’s financial investments with original or acquired maturities longer than three months, but that mature in less than one year from the condensed consolidated balance sheet date and any money market funds that are considered cash and cash equivalents are classified as current assets. The Company’s marketable securities are also classified as current assets within financial investments. The Company’s financial investments are summarized as follows (in millions):

	March 31, 2020
	Cost basis		Unrealized gains		Unrealized losses		Fair value
Available-for-sale securities:
U.S. Treasury securities	$	25.2	$	—	$	—	$	25.2
Trading securities:
Marketable securities (1)		18.4		—		—		18.4
Total financial investments	$	43.6	$	—	$	—	$	43.6

	December 31, 2019
	Cost basis		Unrealized gains		Unrealized losses		Fair value
Available-for-sale securities:
U.S. Treasury securities	$	47.6	$	—	$	—	$	47.6
Trading securities:
Marketable securities (1)		23.4		—		—		23.4
Total financial investments	$	71.0	$	—	$	—	$	71.0

(1) The marketable securities are primarily mutual funds maintained for non-qualified retirement and benefit plans, also referred to as deferred compensation plan assets. See Note 15 (“Employee Benefit Plans”) for more information.