Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments are as follows (in millions):

	June 30,		December 31,
	2022		2021
Non-marketable equity securities	$	84.5	$	84.5
Seed capital investments		34.0		32.0
Marketable equity securities		26.8		40.8
Partnership interests in private equity funds		14.8		15.5
Total investments	$	160.1	$	172.8

Schedule of Realized and Unrealized Gains and Losses on Investments

Realized and unrealized gains and losses for our equity securities are as follows (in millions):

	Three Months Ended June 30,					Six Months Ended June 30,
	2022			2021		2022			2021
Unrealized (losses) gains on equity securities held as of the end of the period	$	(7.7	)	$	3.1	$	(11.6	)	$	8.9
Realized (losses) gains for equity securities sold during the period		(0.2	)		0.6		(0.5	)		7.7
Total (losses) gains recognized in other income, net	$	(7.9	)	$	3.7	$	(12.1	)	$	16.6

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

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

				Fair Value Measurements at Reporting Date Using
	June 30, 2022			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)	$	1,242.6		$	1,242.6		$	—	$	—
Seed capital investments (2)		34.0			34.0			—		—
Marketable equity securities (2)		26.8			26.8			—		—
Deferred compensation liabilities (3)		(14.2	)		(14.2	)		—		—
Total	$	1,289.2		$	1,289.2		$	—	$	—

				Fair Value Measurements at Reporting Date Using
	December 31, 2021			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)	$	1,961.0		$	1,961.0		$	—	$	—
Seed capital investments (2)		32.0			32.0			—		—
Marketable equity securities (2)		40.8			40.8			—		—
Deferred compensation liabilities (3)		(21.3	)		(21.3	)		—		—
Total	$	2,012.5		$	2,012.5		$	—	$	—