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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2023 and 2022:

			Fair Value Measurement at December 31, 2023 Using
(in millions of dollars)			Level 1						Level 2						Level 3						Total
Assets:
Cash equivalents			$	20.5					$	—					$	—					$	20.5
Liabilities:
Contingent consideration			—						—						4.9						4.9
Interest rate swaps			—						0.7						—						0.7

			Fair Value Measurement at December 31, 2022 Using
(in millions of dollars)			Level 1						Level 2						Level 3						Total
Assets:
Cash equivalents			$	0.2					$	—					$	—					$	0.2
Liabilities:
Contingent consideration			—						—						2.7						2.7
Interest rate swaps			—						0.3						—						0.3

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for the years ended December 31, 2023 and 2022:

(in millions of dollars)			2023						2022
Contingent consideration liability, at January 1			$	2.7					$	2.7
Issuance of contingent consideration in connection with acquisitions			4.8						—
Settlements of contingent consideration liabilities			(0.5)						—
Total gains included in earnings (a)			(2.1)						—
Contingent consideration liability, at December 31			$	4.9					$	2.7

(a)    Included as a component of Acquisition and integration-related expenses (benefits), net on the Consolidated Statements of Operations.

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

+ References

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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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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