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Unconsolidated Affiliates (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments in Unconsolidated Affiliates

Investments in unconsolidated affiliates are as follows (in millions):

 

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

 

Ownership Percentage

 

Carrying Value

 

 

Excess carrying value of investment over proportionate share of net assets

 

 

Carrying Value

 

 

Excess carrying value of investment over proportionate share of net assets

 

Orbit Private Investments L.P.

 

9.8%

 

$

211.6

 

 

$

 

 

$

115.3

 

 

$

 

International Financial Data Services L.P.

 

50.0%

 

 

68.3

 

 

 

31.4

 

 

 

85.1

 

 

 

34.8

 

Broadway Square Partners, LLP

 

50.0%

 

 

53.4

 

 

 

29.5

 

 

 

53.8

 

 

 

30.3

 

Pershing Road Development Company, LLC

 

50.0%

 

 

10.0

 

 

 

55.4

 

 

 

10.6

 

 

 

57.9

 

Other unconsolidated affiliates

 

 

 

 

1.9

 

 

 

 

 

 

2.1

 

 

 

 

Total

 

 

 

$

345.2

 

 

$

116.3

 

 

$

266.9

 

 

$

123.0

 

Schedule of Equity in Earnings of Unconsolidated Affiliates

Equity in earnings of unconsolidated affiliates is as follows (in millions):

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Orbit Private Investments L.P.

 

$

96.3

 

 

$

29.3

 

 

$

 

International Financial Data Services L.P.

 

 

3.8

 

 

 

0.3

 

 

 

1.6

 

Pershing Road Development Company, LLC

 

 

(0.6

)

 

 

(5.4

)

 

 

(1.1

)

Broadway Square Partners, LLP

 

 

(0.4

)

 

 

1.7

 

 

 

1.8

 

Other unconsolidated affiliates

 

 

0.9

 

 

 

(0.1

)

 

 

23.1

 

Total

 

$

100.0

 

 

$

25.8

 

 

$

25.4

 

Schedule of Related Party Transactions and Balances Outstanding With Our Related Parties

The following tables summarize related party transactions and balances outstanding with our related parties, which is primarily comprised of transactions with our unconsolidated affiliates (in millions):

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Operating revenues from related parties

 

$

60.5

 

 

$

65.2

 

 

$

71.7

 

Amounts paid to related parties (1)

 

 

46.3

 

 

 

46.5

 

 

 

50.5

 

Distributions received from related parties

 

 

22.6

 

 

 

68.7

 

 

 

30.1

 

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

Outstanding advances/loans to related parties

 

$

1.9

 

 

$

1.9

 

Trade accounts receivable from related parties

 

 

11.4

 

 

 

11.7

 

Total amounts receivable from related parties

 

$

13.3

 

 

$

13.6

 

 

 

 

 

 

 

 

Amounts payable to related parties

 

$

2.7

 

 

$

1.3

 

(1)
Excludes amounts paid to our unconsolidated joint ventures related to loans, advancements and other capital investments.