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Financial Instruments and Risk Management (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Summary of Financial Instruments Recognized at Fair Value | A summary of the Company's financial instruments recognized at fair value, and the fair value measurements used, follows:
| Balance Sheet Location | Total |  | Quoted prices in active markets for identical assets (Level 1) |  | Other observable inputs (Level 2) |  | Unobservable inputs (Level 3)
March 31, 2022 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Interest rate swaps | Other current assets | $ | 4.4 |  |  | $ | — |  |  | $ | 4.4 |  |  | $ | — |
Interest rate swaps | Other noncurrent assets | 58.5 |  |  | — |  |  | 58.5 |  |  | — |
Total assets |  | $ | 62.9 |  |  | $ | — |  |  | $ | 62.9 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Contingent consideration | Accrued expenses and other liabilities | $ | 2.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.2 |
Private warrants | Warrant liabilities | 54.7 |  |  | — |  |  | 54.7 |  |  | — |
Total liabilities |  | $ | 56.9 |  |  | $ | — |  |  | $ | 54.7 |  |  | $ | 2.2 |
| Balance Sheet Location | Total |  | Quoted prices in active markets for identical assets (Level 1) |  | Other observable inputs (Level 2) |  | Unobservable inputs (Level 3)
December 31, 2021 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Interest rate swaps | Other noncurrent assets | $ | 16.1 |  |  | $ | — |  |  | $ | 16.1 |  |  | $ | — |
Total assets |  | $ | 16.1 |  |  | $ | — |  |  | $ | 16.1 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps | Accrued expenses and other liabilities | $ | 7.4 |  |  | $ | — |  |  | $ | 7.4 |  |  | $ | — |
Contingent consideration | Accrued expenses and other liabilities | 3.7 |  |  | — |  |  | — |  |  | 3.7 |
Private warrants | Warrant liabilities | 149.6 |  |  | — |  |  | 149.6 |  |  | — |
Total liabilities |  | $ | 160.7 |  |  | $ | — |  |  | $ | 157.0 |  |  | $ | 3.7 |
Fair Value Measurement Inputs and Valuation Techniques | The significant assumptions which the Company used in the model are:
Warrant valuation inputs |  | March 31, 2022 |  | December 31, 2021
Stock price |  | $ | 14.00 |  |  | $ | 24.97 |
Strike price |  | $ | 11.50 |  |  | $ | 11.50 |
Remaining life |  | 2.85 |  | 3.10
Volatility |  | 41.0 | % |  | 34.2 | %
Interest rate (1) |  | 2.42 | % |  | 0.98 | %
Dividend yield (2) |  | 0.07 | % |  | 0.04 | %
(1) Interest rate determined from a constant maturity treasury yield (2) March 31, 2022 and December 31, 2021 dividend yield assumes $0.01 per share per annum.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table presents the estimated fair value and carrying value of long-term debt, including the current portion of long-term debt as of March 31, 2022 and December 31, 2021.
| March 31, 2022 |  | December 31, 2021
| Fair Value |  | Par Value (1) |  | Fair Value |  | Par Value (1)
Term Loan due 2027 | $ | 2,102.3 |  |  | $ | 2,156.2 |  |  | $ | 2,148.2 |  |  | $ | 2,161.7 |
Senior Secured Notes due 2028 | 773.5 |  |  | 850.0 |  |  | 853.2 |  |  | 850.0 |
(1)See Note 6 — Debt for additional information

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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