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v3.23.1

Basis of Presentation (Tables) | 3 Months Ended
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Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Fair Value, by Balance Sheet Grouping | The following tables summarize financial assets and liabilities measured at fair value as of March 31, 2023 and 2022:
| 2023 |  | 2022
(in millions) | Level 1 | Level 2 | Level 3 |  | Level 1 | Level 2
Cash equivalents (1) | $ | 120.5 |  | $ | — |  | $ | — |  |  | $ | 32.6 |  | — |
Term loan due 2027 (2) | — |  | 427.5 |  | — |  |  | — |  | 450.0 |
Revolver due 2027 (2) | — |  | 150.0 |  | — |  |  | — |  | 250.0 |
Derivative instruments - assets (3) | — |  | 35.6 |  | — |  |  | — |  | 9.7 |
Derivative instruments - liabilities (3) | — |  | (11.5) |  | — |  |  | — |  | (25.8) |
Contingent considerations | — |  | — |  | 6.5 |  |  | — |  | — |
1) The carrying amounts of cash equivalents, representing government and other money market funds traded in an active market with relatively short maturities, are reported on the consolidated balance sheet as of March 31, 2023 and 2022 as a component of "Cash and cash equivalents". (2) The carrying amounts of the term loan and revolver approximate fair value as of March 31, 2023 based upon the terms and conditions as disclosed in Note 12 in comparison to debt instruments with similar terms and conditions available on the same date. (3) Derivatives for interest rate, foreign exchange and forward swap contracts are discussed in Note 8.
Accounts Receivable, Allowance for Credit Loss | The changes in the allowance for doubtful accounts receivable for the three months ended March 31, 2023 are outlined in the table below:
| Balance at |  |  | Balance at
(in thousands) | December 31, 2022 | Expense (Deductions), net | Write-Offs 1 | March 31, 2023
Allowance for Doubtful Accounts | $ | 3,240 |  | 635 |  | (85) |  | $ | 3,960 |
1 Amount is net of recoveries and the effect of foreign currency fluctuations.

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