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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Schedule of fair value of financial assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement at December 31, 2021 Using:
​ | ​ | ​ | ​ | ​ | Quoted Prices in Active | ​ | Significant Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
​ |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
​ | ​ | (in millions)
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plan asset for deferred compensation(1) | ​ | $ | 2.6 | ​ | $ | 2.6 | ​ | $ | — | ​ | $ | —
Interest rate swap(1) | ​ | $ | 1.4 | ​ | $ | — | ​ | $ | 1.4 | ​ | $ | —
Total assets | ​ | $ | 4.0 | ​ | $ | 2.6 | ​ | $ | 1.4 | ​ | $ | —
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap(3) | ​ | $ | 0.6 | ​ | $ | — | ​ | $ | 0.6 | ​ | $ | —
Plan liability for deferred compensation(2) | ​ | $ | 2.6 | ​ | $ | 2.6 | ​ | $ | — | ​ | $ | —
Contingent consideration(4) | ​ | $ | 6.3 | ​ | $ | — | ​ | $ | — | ​ | $ | 6.3
Total liabilities | ​ | $ | 9.5 | ​ | $ | 2.6 | ​ | $ | 0.6 | ​ | $ | 6.3
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at December 31, 2020 Using:
​ | ​ | ​ | ​ | ​ | Quoted Prices in Active | ​ | Significant Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | Markets for Identical | ​ | Observable | ​ | Unobservable
​ |  | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
​ | ​ | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
​ | ​ | (in millions)
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Plan asset for deferred compensation(1) | ​ | $ | 2.5 | ​ | $ | 2.5 | ​ | $ | — | ​ | $ | —
Total assets | ​ | $ | 2.5 | ​ | $ | 2.5 | ​ | $ | — | ​ | $ | —
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps(3) | ​ | $ | 0.6 | ​ | $ | — | ​ | $ | 0.6 | ​ | $ | —
Plan liability for deferred compensation(2) | ​ | $ | 2.5 | ​ | $ | 2.5 | ​ | $ | — | ​ | $ | —
Designated foreign currency hedge(3) | ​ | $ | 0.1 | ​ | $ | — | ​ | $ | 0.1 | ​ | $ | —
Contingent consideration(4) | ​ | $ | 3.2 | ​ | $ | — | ​ | $ | — | ​ | $ | 3.2
Total liabilities | ​ | $ | 6.4 | ​ | $ | 2.5 | ​ | $ | 0.7 | ​ | $ | 3.2
(1) | Included on the Company’s consolidated balance sheet in other assets (other, net).
​
(2) | Included on the Company’s consolidated balance sheet in accrued compensation and benefits.
​
(3) | Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities.
​
(4) | As of December 31, 2021, $3.8 million classified in accrued expenses and other liabilities on the Company’s consolidated balance sheet, relates to contingent consideration as part of the acquisition of Australian Valve Group Pty Ltd (“AVG”) and $2.5 million classified in other noncurrent liabilities relates to contingent consideration as part of the acquisition of Sentinel Hydrosolutions, LLC (“Sentinel”). The balance as of December 31, 2020 of $3.2 million related to the estimated contingent consideration as part of the acquisition of AVG and was classified on the Company’s consolidated balance sheet in other noncurrent liabilities.
​
Significant Unobservable Inputs (Level 3) |
Summary of the changes in fair value of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total realized and unrealized | ​ | ​ | ​
​ | ​ | Balance | ​ | ​ | ​ | ​ | ​ | ​ | (gains) losses included in: | ​ | Balance
​ | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | ​ | Net earnings | ​ | Comprehensive | ​ | December 31,
​ |  | 2020 |  | Settlements |  | Purchases |  | adjustments |  | income |  | 2021
​ | ​ | (in millions)
Contingent consideration | ​ | $ | 3.2 | ​ | ​ | — | ​ | $ | 2.5 | ​ | ​ | 0.8 | ​ | $ | (0.2) | ​ | $ | 6.3

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 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 (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + 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/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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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