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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis The following tables present information about our financial instruments measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 June 30, 2023Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents$541.0 $— $— $541.0 Cash and cash equivalents
Marketable securities$2.8 $— $— $2.8 Marketable securities
Liabilities
Contingent acquisition obligations 1
$— $— $9.1 $9.1 Accrued liabilities and Other non-current liabilities
 December 31, 2022Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents$1,688.1 $— $— $1,688.1 Cash and cash equivalents
Marketable securities$1.1 $— $— $1.1 Marketable securities
Liabilities
Contingent acquisition obligations 1
$— $— $21.6 $21.6 Accrued liabilities and Other non-current liabilities
1Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $12.5 from December 31, 2022 to June 30, 2023 is primarily due to payments related to our deferred acquisitions payments from prior-year acquisitions and valuation adjustments, partially offset by new acquisitions and the exercises of redeemable non-controlling interest. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.
[1]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 June 30, 2023December 31, 2022
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Marketable securities$97.7 $— $— $97.7 $— $— $— $— 
Liabilities
Total long-term debt$— $2,891.9 $0.8 $2,892.7 $— $2,551.5 $0.8 $2,552.3 
[1] Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $12.5 from December 31, 2022 to June 30, 2023 is primarily due to payments related to our deferred acquisitions payments from prior-year acquisitions and valuation adjustments, partially offset by new acquisitions and the exercises of redeemable non-controlling interest. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.