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Investments
9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
Equity Securities
Gains on equity securities included in Recognized gains and losses, net on the Condensed Consolidated Statements of Operations consisted of the following for the three and nine months ended September 30, 2020 (in millions):
 Three Months Ended September 30, 2020Nine months ended September 30, 2020
 
Net gains recognized during the period on equity securities$69.5 $1,333.3 
Less: net gains recognized during the period on equity securities sold during the period— (180.8)
Unrealized gains recognized during the reporting period on equity securities still held at the reporting date$69.5 $1,152.5 

We recorded no gains or losses on equity securities in the three or nine months ended September 30, 2019.

Investments in Unconsolidated Affiliates
Investments in unconsolidated affiliates recorded using the equity method of accounting as of September 30, 2020 and December 31, 2019 consisted of the following (in millions):
 Ownership at September 30, 2020September 30,
2020
December 31,
2019
Dun & Bradstreet18.1 %$668.5 $385.9 
Ceridian (1)10.9 %— 309.5 
Optimal Blue20.0 %284.3 — 
Senator Focused Strategies87.4 %235.7 46.7 
AmeriLife20.3 %120.7 — 
Othervarious104.0 94.4 
Total $1,413.2 $836.5 
_____________________________________
(1) The investment in Ceridian was no longer accounted for under the equity method of accounting beginning March 31, 2020.

Equity in (losses) earnings of unconsolidated affiliates for the three and nine months ended September 30, 2020 and September 30, 2019 consisted of the following (in millions):
 Three months ended September 30, 2020Three months ended September 30, 2019Nine months ended September 30, 2020Nine months ended September 30, 2019
Dun & Bradstreet$(3.1)$(21.4)$(48.5)$(68.6)
Ceridian (1)— 12.7 1.5 16.7 
Optimal Blue(4.7)— (4.7)— 
Senator Focused Strategies1.6 — 80.9 — 
AmeriLife(0.8)— (4.3)— 
Other5.8 0.4 (21.3)1.1 
Total$(1.2)$(8.3)$3.6 $(50.8)
_____________________________________
(1) The amount for the nine months ended September 30, 2020 represents the Company's equity in earnings of Ceridian in the three months ended March 31, 2020 prior to the change in accounting for the investment beginning March 31, 2020. See Note A.
Dun & Bradstreet
Based on quoted market prices, the aggregate value of our ownership of Dun & Bradstreet common stock was $2.0 billion as of September 30, 2020.
As of September 30, 2020, we hold less than 20% of the outstanding common equity of Dun & Bradstreet but continue to account for our investment under the equity method because we continue to exert significant influence through our 18.1% ownership, because certain of our senior management and directors serve on Dun & Bradstreet's board of directors, and because we are party to an agreement with other of its equity sponsors, which collectively own greater than 50% of the outstanding voting equity of Dun & Bradstreet, pursuant to which we have agreed to collectively vote together on all matters related to the election of directors to the Dun & Bradstreet board of directors for a period of three years.
Summarized financial information for Dun & Bradstreet and its pre-IPO predecessor entity (the "D&B Predecessor") for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Condensed Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.
We acquired our initial interest in the D&B Predecessor on February 8, 2019. The results of operations for the nine months ended September 30, 2019 presented below represent the D&B Predecessor's results of operations subsequent to our acquisition.
 September 30,
2020
December 31,
2019
(In millions)
Total current assets$723.4 $417.9 
Goodwill and other intangible assets, net7,779.2 8,091.5 
Other assets682.8 603.4 
Total assets$9,185.4 $9,112.8 
Current liabilities$785.7 $1,090.4 
Long-term debt3,257.5 3,818.9 
Other non-current liabilities1,478.5 1,594.0 
Total liabilities5,521.7 6,503.3 
Preferred equity— 1,030.6 
Total equity3,663.7 1,578.9 
Total liabilities and equity$9,185.4 $9,112.8 
 Three months ended September 30, 2020Three months ended September 30, 2019Nine months ended September 30, 2020Period from February 8, 2019 to September 30, 2019
(In millions)(In millions)
Total revenues$442.1 $408.2 $1,258.0 $981.2 
Loss before income taxes(24.9)(79.8)(227.8)(278.1)
Net loss(14.9)(55.3)(114.8)(197.2)
Dividends attributable to preferred equity and noncontrolling interest expense(2.1)(33.5)(67.8)(85.3)
Net loss attributable to Dun & Bradstreet(17.0)(88.8)(182.6)(282.5)
Optimal Blue
On September 15, 2020, we closed on our $289.0 million investment in Optimal Blue. Summarized financial information for Optimal Blue for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Condensed Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.
September 30,
2020
(In millions)
Total current assets$35.7 
Goodwill and other intangible assets, net1,863.5 
Other assets100.8 
Total assets$2,000.0 
Current liabilities$26.2 
Long-term debt492.8 
Other non-current liabilities118.5 
Total liabilities637.5 
Redeemable member's interest578.0 
Additional paid-in capital812.1 
Retained deficit(27.6)
Total redeemable member's interest and equity1,362.5 
Total liabilities, redeemable member's interest and equity$2,000.0 
 Period from September 15, 2020 to September 30, 2020
(In millions)
Total revenues$6.7 
Operating loss(20.3)
Net loss attributable to Optimal Blue(25.1)
Senator Focused Strategies
Summarized financial information for SFS for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Condensed Consolidated Balance Sheets and Statements of Operations, respectively, is presented below.
 September 30,
2020
December 31,
2019
(In millions)
Due from brokers and counterparties$217.8 $138.4 
Derivative contracts, at fair value77.6 2.4 
Other assets0.6 — 
Total assets$296.0 $140.8 
Capital received in advance$25.8 $45.2 
Other liabilities0.4 0.2 
Total liabilities26.2 45.4 
Net assets$269.8 $95.4 
 Three months ended September 30, 2020Nine months ended September 30, 2020
(In millions)(In millions)
Total net investment loss$(1.8)$(2.9)
Realized gain on securities and derivative contracts17.8 103.8 
Change in unrealized (loss) gain on securities and derivative contracts(16.4)75.2 
Change in net assets from operations(0.4)176.1 
As of September 30, 2020, $25.8 million of our investment in SFS is held on deposit with SFS until such time as the general partner utilizes the funds and other limited partners make matching pro-rata contributions. Our investment held on deposit is included in Prepaid expense and other current assets on our Consolidated and Combined Balance Sheet as of September 30, 2020.
AmeriLife
On March 18, 2020, we closed on our $125.0 million investment in the AmeriLife Joint Venture. Summarized financial information for the AmeriLife Joint Venture for the relevant dates and time periods included in Investments in unconsolidated affiliates and Equity in earnings (losses) of unconsolidated affiliates in our Condensed Consolidated Balance Sheets and Statements of Operations, respectively, is presented below. We account for our investment in AmeriLife as an equity method investment and report our equity in earnings or loss of the AmeriLife Joint Venture on a three-month lag. Accordingly, our net earnings for the nine-month period ended September 30, 2020 includes our equity in AmeriLife’s losses for the period from March 18, 2020 through June 30, 2020.
 June 30,
2020
(In millions)
Total current assets$86.5 
Goodwill and other intangible assets, net1,100.6 
Other assets15.2 
Total assets$1,202.3 
Current liabilities$39.3 
Long-term debt500.2 
Other non-current liabilities5.9 
Total liabilities545.4 
Member's equity594.5 
Noncontrolling interest - nonredeemable62.4 
Total member's equity656.9 
Total liabilities and member's equity$1,202.3 
 Three months ended June 30, 2020Period from March 18, 2020 to June 30, 2020
(In millions)(In millions)
Total revenues$79.4 $93.1 
Operating income (loss)5.1 (4.8)
Net loss(5.4)(16.1)
Income attributable to noncontrolling interests3.9 4.3 
Net loss attributable to AmeriLife(9.3)(20.4)

Equity Security Investments Without Readily Determinable Fair Values
We account for our investment in preferred equity of QOMPLX, Inc. ("QOMPLX"), an intelligent decision and analytics platform used by businesses for modeling and planning, at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly market transactions. As of September 30, 2020, we have $30.0 million recorded for our investment in QOMPLX, which is included in Other long term investments and noncurrent assets on our Condensed Consolidated Balance Sheet. We have not recorded any upward or downward adjustments to our investment in QOMPLX.
Fixed Maturity Securities
 The carrying amounts and fair values of our available for sale fixed maturity securities at September 30, 2020 and December 31, 2019 are as follows:
 September 30, 2020
 Carrying
Value
Cost BasisUnrealized
Gains
Unrealized
Losses
Fair
Value
 (In millions)
Fixed maturity securities available for sale:     
Corporate debt securities$34.5 $20.5 $14.0 $— $34.5 
  Total$34.5 $20.5 $14.0 $— $34.5 
 December 31, 2019
 Carrying
Value
Cost BasisUnrealized
Gains
Unrealized
Losses
Fair
Value
 (In millions)
Fixed maturity securities available for sale:     
Corporate debt securities$19.2 $19.6 $0.7 $(1.1)$19.2 
  Total$19.2 $19.6 $0.7 $(1.1)$19.2 
 
The cost basis of fixed maturity securities available for sale includes an adjustment for amortized premium or discount and other-than-temporary-impairment recognized in earnings since the date of purchase.
As of September 30, 2020, $34.0 million of the fixed maturity securities in our investment portfolio had a maturity of less than one year and $0.5 million had a maturity of greater than one year, but less than five years. Expected maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
During the three and nine months ended September 30, 2020 and three months ended September 30, 2019, we incurred no other-than-temporary impairment charges relating to corporate debt securities. During the nine months ended September 30, 2019, we incurred $0.4 million of other-than-temporary impairment charges relating to corporate debt securities, which is included in Recognized gains and losses, net on the Condensed Consolidated Statement of Operations. The impairment recorded related to a corporate debt holding that had experienced a prolonged period of declining earnings and that we were uncertain of our ability to recover our initial investment. All of the loss represents credit loss recognized in earnings and no portion of the loss was included in other comprehensive earnings.
As of September 30, 2020, we held corporate debt securities with a fair value of $15.7 million for which an other-than-temporary impairment had been previously recognized. It is possible that future events may lead us to recognize potential future impairment losses related to our investment portfolio. Unanticipated future events may lead us to dispose of certain investment holdings and recognize the effects of any market movements in our results of operations.