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Basis of Presentation (Tables)

3 Months Ended

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-Offs1			March 31, 2023
Allowance for Doubtful Accounts			$	3,240		635			(85)			$	3,960

1Amount is net of recoveries and the effect of foreign currency fluctuations.

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

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

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