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Fair Value Measurement
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement
Note 10. Fair Value Measurement
The following table summarizes the fair values and carrying amounts of the Company's financial instruments that are required to be recorded or disclosed at fair value on a recurring basis:
March 31, 2025December 31, 2024
CategoryCarrying
amount		Fair valueCarrying
amount		Fair value
Loans receivableLevel 2$75.0 $75.1 $53.6 $53.3 
Contingent consideration liabilityLevel 34.9 4.9 4.8 4.8 
Long-term debt
Secured NotesLevel 1545.2 561.0 544.8 563.8 
Unsecured NotesLevel 1791.3 837.0 790.9 837.5 
Term loans Level 21,290.2 1,296.3 1,290.5 1,297.5 
The fair value of loans receivable with a maturity date greater than one year are determined by estimating discounted cash flows using market rates. The fair value of the contingent consideration liability, which relates to IAA's acquisition of Marisat, Inc. in 2021, is determined using certain unobservable inputs, including the likelihood of the achievement of volume targets. The fair values of the Secured Notes and Unsecured Notes are determined by reference to a quoted market price traded in an over-the-counter broker market. The carrying values of the term loans, before deduction of deferred debt issuance costs, approximate their fair values as the interest rates on the loans are short-term in nature.