Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 (in millions):


	As of March 31, 2022
	Total		Level 1		Level 2		Level 3
Assets
Cash equivalents - money market funds	$	0.9	$	0.9	$	—	$	—
Deferred compensation plan assets	37.1		37.1		—		—
Foreign currency forward contracts	1.1		—		1.1		—
Deferred purchase price receivable	94.6		—		—		94.6
Equity securities	102.3		102.3		—		—
Total	$	236.0	$	140.3	$	1.1	$	94.6
Liabilities
Deferred compensation plan liabilities	$	37.7	$	37.7	$	—	$	—
Foreign currency forward contracts	0.6		—		0.6		—
Interest rate swap agreements	14.0		—		14.0		—
Earn-out liabilities	22.8		—		—		22.8
Total	$	75.1	$	37.7	$	14.6	$	22.8


	As of December 31, 2021
	Total		Level 1		Level 2		Level 3
Assets
Cash equivalents - money market funds	$	45.2	$	45.2	$	—	$	—
Deferred compensation plan assets	47.2		47.2		—		—
Foreign currency forward contracts	0.9		—		0.9		—
Deferred purchase price receivable	142.3		—		—		142.3
Equity securities	129.0		129.0		—		—
Total	364.6		221.4		0.9		142.3
Liabilities
Deferred compensation plan liabilities	$	47.4	$	47.4	$	—	$	—
Foreign currency forward contracts	1.1		—		1.1		—
Interest rate swap agreements	84.0		—		84.0		—
Earn-out liabilities	21.4		—		—		21.4
Total	$	153.9	$	47.4	$	85.1	$	21.4

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below presents a reconciliation of earn-out liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions):


	Earn-out Liabilities
	2022		2021
Balance as of January 1,	$	21.4	$	21.0
Purchases/additions	2.0		—
Net change in fair value and other adjustments	(0.5)		(0.7)
Payments	(0.1)		—
Balance as of March 31,	$	22.8	$	20.3