Hybrid Instruments Liabilities

12 Months Ended

Dec. 31, 2024

25. Hybrid instruments liabilities

As part of the 2018 Mestrelab Research, S.L. (“Mestrelab”), 2022 PreOmics, 2023 Biognosys, 2023 Zontal and certain other majority owned acquisitions, the Company entered into agreements with the noncontrolling interest holders that provide the Company with the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining ownerships for cash at contractually defined redemption values. Refer to Note 2, Summary of Significant Accounting Policies for more information on the Company’s policy on hybrid instruments liabilities.

The following table sets forth the changes in hybrid instruments liability (in millions):


Balance at December 31, 2022	$	34.2
Current period additions		36.1
Current period adjustments		(2.1	)
Foreign currency effect		2.3
Balance at December 31, 2023		70.5
Current period additions		—
Current period adjustments		24.1
Current period settlements (a)		(13.8	)
Foreign currency effect		(2.7	)
Balance at December 31, 2024	$	78.1

(a)

On October 1, 2024, the call option for Mestrelab was executed, and Bruker acquired the remaining 19.03% of Mestrelab. As a result of the transaction, Bruker has obtained 100% ownership interest in Mestrelab

The Level 3 fair value measurements of our hybrid instrument liabilities include the following significant unobservable inputs:


Hybrid Instrument Liabilities	Fair Value as of December 31, 2024 (millions)	Valuation Technique	Unobservable Input	Range	Weighted Average (a)
Put / Call Options	78.1	Option Pricing Model	Revenue Risk Premium	1.6% - 12.6%	10.70%
			EBITDA Risk Premium	10.1% - 25.1%	21.70%

Unobservable inputs were weighted by the relative fair value of the hybrid instrument liabilities.