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Basis of Presentation (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2023 and 2022:
| 2023 |  | 2022 |
(in millions) | Level 1 | Level 2 | Level 3 |  | Level 1 | Level 2 | Level 3
Cash equivalents (1) | $ | 248.1 |  | $ | — |  | $ | — |  |  | $ | 42.4 |  | $ | — |  | $ | — |
Derivative instruments - assets (2) | — |  | 37.9 |  | — |  |  | — |  | 24.5 |  | — |
Derivative instruments - liabilities (2) | — |  | (18.6) |  | — |  |  | — |  | (7.9) |  | — |
Contingent considerations | — |  | — |  | 6.5 |  |  | — |  | — |  | 6.5 |
1) The carrying amounts of cash equivalents, representing United States Treasury securities and money market funds traded in an active market with relatively short maturities, are reported on the consolidated balance sheet as of June 30, 2023 and 2022 as a component of "Cash and cash equivalents". (2) Derivatives for interest rate, foreign exchange and forward swap contracts are discussed in Note 8. The carrying amounts of the term loan and revolver approximate fair value as of June 30, 2023 based upon its terms and conditions in comparison to debt instruments with similar terms and conditions available on the same date.
Accounts Receivable, Allowance for Credit Loss | The changes in the allowance for doubtful accounts receivable for the six months ended June 30, 2023 are outlined in the table below:
| Balance at |  |  | Balance at
(in thousands) | December 31, 2022 | Expense (Deductions), net | Write-Offs 1 | June 30, 2023
Allowance for Doubtful Accounts | $ | 3,240 |  | 459 |  | (88) |  | $ | 3,611 |
1 Amount is net of recoveries and the effect of foreign currency fluctuations.

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