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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value | The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025.
| March 31, 2026
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial Assets |  |  |  |  |  |  |
Trading securities held in deferred compensation plan(1) | $ | 23.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 23.5 |
Interest rate swaps(2) | — |  |  | 12.3 |  |  | — |  |  | 12.3 |
Cross-currency interest rate swaps(3) | — |  |  | 15.6 |  |  | — |  |  | 15.6 |
Foreign currency forwards(4) | — |  |  | 2.0 |  |  | — |  |  | 2.0 |
Total | $ | 23.5 |  |  | $ | 29.9 |  |  | $ | — |  |  | $ | 53.4 |
Financial Liabilities |  |  |  |  |  |  |
Deferred compensation plans(1) | $ | 28.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 28.1 |
Cross-currency interest rate swaps(3) | — |  |  | 107.6 |  |  | — |  |  | 107.6 |
Foreign currency forwards(4) | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Contingent consideration(5) | — |  |  | — |  |  | 45.1 |  |  | 45.1 |
Total | $ | 28.1 |  |  | $ | 107.9 |  |  | $ | 45.1 |  |  | $ | 181.1 |
| December 31, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial Assets |  |  |  |  |  |  |
Trading securities held in deferred compensation plan(1) | $ | 24.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 24.4 |
Interest rate swaps(2) | — |  |  | 19.8 |  |  | — |  |  | 19.8 |
Cross-currency interest rate swaps(3) | — |  |  | 10.7 |  |  | — |  |  | 10.7 |
Foreign currency forwards(4) | — |  |  | — |  |  | — |  |  | — |
Total | $ | 24.4 |  |  | $ | 30.5 |  |  | $ | — |  |  | $ | 54.9 |
Financial Liabilities |  |  |  |  |  |  |
Deferred compensation plan(1) | $ | 30.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 30.8 |
Cross-currency interest rate swaps(3) | — |  |  | 130.5 |  |  | — |  |  | 130.5 |
Foreign currency forwards(4) | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
Contingent consideration(5) | — |  |  | — |  |  | 44.0 |  |  | 44.0 |
Total | $ | 30.8 |  |  | $ | 131.4 |  |  | $ | 44.0 |  |  | $ | 206.2 |
(1)Based on the quoted price of publicly traded mutual funds and other equity securities which are classified as trading securities and accounted for using the mark-to-market method. (2)Measured as the present value of all expected future cash flows based on the SOFR-based swap yield curves as of the end of the period. The present value calculation uses discount rates that have been adjusted to reflect the credit quality of the Company and its counterparties. (3)Measured as the present value of all expected future cash flows on each leg of the contracts. The model utilizes inputs of observable market data including interest yield curves and foreign currency exchange rates. The present value calculation uses cross-currency basis-adjusted discount factors that have been adjusted to reflect the credit quality of the Company and its counterparties. (4)Based on calculations that use readily observable market parameters as their basis, such as spot and forward rates. (5)Measured as the present value of expected consideration payable for completed acquisitions, generally derived using probability-weighted analysis of achieving projected revenue or EBITDA targets.
Schedule of Activity for Contingent Consideration | The following table provides a reconciliation of the activity for contingent consideration for the three month periods ended March 31, 2026 and 2025.
|  |  | For the Three Month Period Ended March 31,
|  |  |  |  | 2026 |  | 2025
Balance at beginning of the period |  |  |  |  | $ | 44.0 |  |  | $ | 22.2 |
Acquisitions |  |  |  |  | 0.1 |  |  | 9.7 |
Changes in fair value |  |  |  |  | 1.3 |  |  | — |
Foreign currency translation |  |  |  |  | (0.3) |  |  | 0.9 |
Balance at end of the period |  |  |  |  | $ | 45.1 |  |  | $ | 32.8 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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