Hybrid Instruments Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Hybrid Instruments [Abstract]

Schedule of changes in hybrid instrument liability

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

Balance at December 31, 2024	$	78.1
Acquisitions		—
Current period adjustments		1.1
Current period settlements		—
Foreign currency effect		1.0
Balance at March 31, 2025	$	80.2

Schedule of fair value measurements of hybrid instrument liabilities

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

Hybrid Instrument Liabilities	Valuation Technique	Unobservable Input	Range	Weighted Average (a)
Put / Call Options	Option Pricing Model	Revenue Risk Premium	1.6% - 12.6%	10.7%
		EBITDA Risk Premium	10.1% - 25.1%	21.6%

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