FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2022

FAIR VALUE MEASUREMENT

Schedule of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 (in millions):

	September 30, 2022
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	0.5	$	0.5	$	—	$	—
Canadian short-term investments (1)		1.5		1.5		—		—
Marketable securities (1):
Mutual funds		15.9		15.9		—		—
Money market funds		9.5		9.5		—		—
Digital assets - safeguarded assets		24.0		24.0		—		—
Total assets	$	51.4	$	51.4	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	47.5	$	—	$	—	$	47.5
Digital assets - safeguarded liabilities		24.0		24.0		—		—
Total liabilities	$	71.5	$	24.0	$	—	$	47.5

	December 31, 2021
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	9.1	$	9.1	$	—	$	—
Marketable securities (1):
Mutual funds		18.4		18.4		—		—
Money market funds		9.6		9.6		—		—
Total assets	$	37.1	$	37.1	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	70.5	$	—	$	—	$	70.5
Total liabilities	$	70.5	$	—	$	—	$	70.5

(1) These amounts are reflected within financial investments in the condensed consolidated balance sheets.

Schedule of fair value hierarchy for assets and liabilities measured at carrying value

The following tables present the Company’s fair value hierarchy for certain assets and liabilities held by the Company, with the exception of debt and digital assets held which are presented at its carrying value, as of September 30, 2022 and December 31, 2021 (in millions):

	September 30, 2022
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	0.5	$	0.5	$	—	$	—
Canadian short-term investments (1)		1.5		1.5		—		—
Deferred compensation plan assets (1)		25.4		25.4		—		—
Digital assets - safeguarded assets		24.0		24.0		—		—
Digital assets held (2)		0.9		0.9		—		—
Total assets	$	52.3	$	52.3	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	47.5	$	—	$	—	$	47.5
Deferred compensation plan liabilities (3)		25.4		25.4		—		—
Digital assets - safeguarded liabilities		24.0		24.0		—		—
Debt		1,859.8		—		1,859.8		—
Total liabilities	$	1,956.7	$	49.4	$	1,859.8	$	47.5

	December 31, 2021
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	9.1	$	9.1	$	—	$	—
Deferred compensation plan assets (1)		28.0		28.0		—		—
Total assets	$	37.1	$	37.1	$	—	$	—
Liabilities:
Contingent consideration liabilities	$	70.5	$	—	$	—	$	70.5
Deferred compensation plan liabilities (3)		28.0		28.0		—		—
Debt		1,299.3		—		1,299.3		—
Total liabilities	$	1,397.8	$	28.0	$	1,299.3	$	70.5

(1) These amounts are reflected within financial investments in the condensed consolidated balance sheets.

(2) These amounts are reflected within intangible assets, net in the condensed consolidated balance sheets.

(3) These amounts are reflected within other non-current liabilities in the condensed consolidated balance sheets.

Schedule of fair value of debt obligation

At September 30, 2022 and December 31, 2021, the fair values of the Company’s debt obligations were as follows (in millions):

	Fair Value
	September 30, 2022		December 31, 2021
Term Loan Agreement	$	411.5	$	160.1
3.650% Senior Notes		613.8		702.6
1.625% Senior Notes		382.4		470.9
3.000% Senior Notes		249.8		—

Summary of changes in the fair value of Level 3 financial liabilities

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities during the three and nine months ended September 30, 2022 (in millions):

	Level 3 Financial Liabilities for the Three Months Ended September 30, 2022
	Balance at		Realized (Gains)								Foreign		Balance at
	Beginning of		Losses during								Currency		End of
	Period		Period		Adjustments		Additions		Settlements		Translation		Period
Liabilities
Contingent consideration liabilities	$	102.1	$	—	$	(46.6)	$	—	$	(7.3)	$	(0.7)	$	47.5
Total liabilities	$	102.1	$	—	$	(46.6)	$	—	$	(7.3)	$	(0.7)	$	47.5

	Level 3 Financial Liabilities for the Nine Months Ended September 30, 2022
	Balance at		Realized (Gains)								Foreign		Balance at
	Beginning of		Losses during								Currency		End of
	Period		Period		Adjustments		Additions		Settlements		Translation		Period
Liabilities
Contingent consideration liabilities	$	70.5	$	—	$	(46.6)	$	57.7	$	(33.2)	$	(0.9)	$	47.5
Total liabilities	$	70.5	$	—	$	(46.6)	$	57.7	$	(33.2)	$	(0.9)	$	47.5