Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Disclosure of Fair Value and Carrying Value of Debt Instruments

The estimated fair value, as well as the carrying value, of the Company's debt instruments as of March 31, 2023 and December 31, 2022 are shown below:

	March 31, 2023		December 31, 2022
Estimated aggregate fair value	$	574.7	$	521.0
Aggregate carrying value (1)		595.2		554.1

(1) Total debt excluding the impact of unamortized debt discount and debt issuance costs.

Summary of Recurring Measures at Fair Value by Level of Hierarchy

The following table sets forth, by level of hierarchy, the Company’s recurring measures at fair value as of March 31, 2023 and December 31, 2022, which are presented in “Other current liabilities” and “Other liabilities” on the Condensed Consolidated Balance Sheets:

	March 31, 2023
	Level 1		Level 2		Level 3
Liabilities
Contingent consideration	$	—	$	—	$	9.9
	December 31, 2022
	Level 1		Level 2		Level 3
Liabilities
Contingent consideration	$	—	$	—	$	9.8

Summary of Changes to Level 3 Instruments

The following is a summary of changes to Level 3 instruments for the three months ended March 31, 2023:

	Contingent Consideration
Balance, December 31, 2022	$	9.8
Acquisitions		—
Changes in fair value		0.1
Payments		—
Balance, March 31, 2023	$	9.9

Summary of Derivative Financial Instruments Measured at Fair Value

The following table sets forth the Company’s derivative financial instruments measured at fair value as of March 31, 2023 and December 31, 2022, which were presented in “Other assets” and "Other current liabilities" on the Condensed Consolidated Balance Sheets:

Derivatives	Financial Statement Location	March 31, 2023		December 31, 2022
Interest rate cap fair value	Other assets	$	2.7	$	3.5
Foreign currency contracts	Other current liabilities		—		0.2