| RESTRICTED SECURITIES AVAILABLE FOR SALE Restricted securities available for sale consist of the following: | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | As of June 30, 2025 | | | Amortized Cost | | Gross Unrealized
Gains | | Gross Unrealized
Losses | | Estimated Fair
Value | | Corporate bonds | $ | 52.6 | | | $ | 0.7 | | | $ | (0.1) | | | $ | 53.2 | | | U.S. Government and agency securities | 33.3 | | | 0.4 | | | — | | | 33.7 | | | Asset-backed securities | 18.3 | | | 0.2 | | | — | | | 18.5 | | | | | | | | | | | | | | | | | | | Mortgage-backed securities | 1.7 | | | — | | | — | | | 1.7 | | | Total restricted securities available for sale | $ | 105.9 | | | $ | 1.3 | | | $ | (0.1) | | | $ | 107.1 | | | | | | | | | | | (In millions) | As of December 31, 2024 | | | Amortized Cost | | Gross Unrealized
Gains | | Gross Unrealized
Losses | | Estimated Fair
Value | | Corporate bonds | $ | 49.4 | | | $ | 0.2 | | | $ | (0.4) | | | $ | 49.2 | | | U.S. Government and agency securities | 35.6 | | | 0.1 | | | (0.4) | | | 35.3 | | | Asset-backed securities | 20.1 | | | 0.1 | | | — | | | 20.2 | | | | | | | | | | | Mortgage-backed securities | 1.7 | | | — | | | — | | | 1.7 | | | Total restricted securities available for sale | $ | 106.8 | | | $ | 0.4 | | | $ | (0.8) | | | $ | 106.4 | |
The fair value and gross unrealized losses for restricted securities available for sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Securities Available for Sale with Gross Unrealized Losses as of June 30, 2025 | | | Less than 12 Months | | 12 Months or More | | | | | | | Estimated
Fair Value | | Gross
Unrealized
Losses | | Estimated
Fair Value | | Gross
Unrealized
Losses | | Total
Estimated
Fair Value | | Total
Gross
Unrealized
Losses | | Corporate bonds | $ | 2.2 | | | $ | — | | | $ | 3.9 | | | $ | (0.1) | | | $ | 6.1 | | | $ | (0.1) | | | U.S. Government and agency securities | 2.6 | | | — | | | 1.5 | | | — | | | 4.1 | | | — | | Asset-backed securities | 0.2 | | | — | | | 3.2 | | | — | | | 3.4 | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | Total restricted securities available for sale | $ | 5.0 | | | $ | — | | | $ | 8.6 | | | $ | (0.1) | | | $ | 13.6 | | | $ | (0.1) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Securities Available for Sale with Gross Unrealized Losses as of December 31, 2024 | | | Less than 12 Months | | 12 Months or More | | | | | | | Estimated
Fair Value | | Gross
Unrealized
Losses | | Estimated
Fair Value | | Gross
Unrealized
Losses | | Total
Estimated
Fair Value | | Total
Gross
Unrealized
Losses | | Corporate bonds | $ | 13.1 | | | $ | (0.2) | | | $ | 8.4 | | | $ | (0.2) | | | $ | 21.5 | | | $ | (0.4) | | | U.S. Government and agency securities | 19.8 | | | (0.2) | | | 4.9 | | | (0.2) | | | 24.7 | | | (0.4) | | | Asset-backed securities | 2.4 | | | — | | | 3.6 | | | — | | | 6.0 | | | — | | | Mortgage-backed securities | 1.7 | | | — | | | — | | | — | | | 1.7 | | | — | | Total restricted securities available for sale | $ | 37.0 | | | $ | (0.4) | | | $ | 16.9 | | | $ | (0.4) | | | $ | 53.9 | | | $ | (0.8) | |
The cost and estimated fair values of debt securities by contractual maturity were as follows (securities with multiple maturity dates are classified in the period of final maturity). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | | As of | | | | June 30, 2025 | | December 31, 2024 | | Contractual Maturity | | Amortized Cost | | Estimated Fair
Value | | Amortized Cost | | Estimated Fair
Value | | Within one year | | $ | 8.5 | | | $ | 8.5 | | | $ | 9.5 | | | $ | 9.4 | | | Over one year to five years | | 90.0 | | | 91.1 | | | 84.7 | | | 84.3 | | | Over five years to ten years | | 7.4 | | | 7.5 | | | 12.6 | | | 12.7 | | | Over ten years | | — | | | — | | | — | | | — | | Total restricted securities available for sale | | $ | 105.9 | | | $ | 107.1 | | | $ | 106.8 | | | $ | 106.4 | |
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