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Fair value measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
The table below presents information about the Company's assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques we utilized to determine fair value:
December 31, 2022December 31, 2021
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Money market accounts$320.8 $320.8 $— $— $152.4 $152.4 $— $— 
Time deposits170.7 — 170.7 — 200.0 — 200.0 — 
Derivative instruments$8.5 $— $8.5 $— $— $— $— $— 
Total$500.0 $320.8 $179.2 $— $352.4 $152.4 $200.0 $— 
Liabilities:
Contingent consideration$6.8 $— $— $6.8 $37.2 $— $— $37.2 
Derivative instruments— — — — 6.1 — 6.1 — 
Total$6.8 $— $— $6.8 $43.3 $— $6.1 $37.2 
Summary of Reconciliation of Contingent Consideration Liabilities Measured at Fair Value
The following table is a reconciliation of the beginning and ending balance of the contingent consideration liabilities measured at fair value during the years ended December 31, 2022, 2021 and 2020.
Contingent Consideration
Balance at December 31, 2019$29.2 
Expense included in earnings31.7 
Settlements(2.8)
Balance at December 31, 2020$58.1 
Expense included in earnings2.9 
Settlements(23.8)
Balance at December 31, 2021$37.2 
Expense included in earnings2.6 
Settlements(33.0)
Balance at December 31, 2022$6.8 
Fair Value Measurement Inputs and Valuation Techniques
The recurring Level 3 fair value measurements for the Company's contingent consideration liability include the following significant unobservable inputs:
Contingent Consideration Liability
Fair Value as of December 31, 2022Valuation TechniqueUnobservable InputRange
Royalty based$6.8 millionDiscounted cash flowDiscount rate
9.9%
Probability of payment
25.0% - 50.0%
Projected year of payment2023 - 2028