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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Fair Value of Assets and Liabilities | The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2024:
| Fair Value Measurement at Reporting Date Using
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 15.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 15.1 |
Interest rate swaps | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | — |  |  | — |  |  | 4.7 |  |  | 4.7 |
Roll-Forward of Fair Value of Recurring Level 3 Fair Value Measurements | The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the three months ended June 30, 2024 and 2023:
(in millions) | 2024 |  | 2023
Contingent consideration liability, at April 1 | $ | 4.6 |  | ` | $ | 6.0 |
Acquisitions, including measurement period adjustments | — |  |  | 4.5 |
Total expense included in earnings (a) | 0.1 |  |  | — |
Contingent consideration liability, at June 30 | $ | 4.7 |  |  | $ | 10.5 |
(a) Changes in the fair value of contingent consideration liabilities are included as a component of Acquisition and integration-related expenses, net on the Condensed Consolidated Statements of Operations. The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements in the six months ended June 30, 2024 and 2023:
(in millions) | 2024 |  | 2023
Contingent consideration liability, at January 1 | $ | 4.9 |  |  | $ | 2.7 |
Acquisitions, including measurement period adjustments | (0.2) |  |  | 8.5 |
Settlements of contingent consideration liabilities | — |  |  | (0.5) |
Foreign currency translation | (0.1) |  |  | — |
Total expense (benefit) included in earnings (a) | 0.1 |  |  | (0.2) |
Contingent consideration liability, at June 30 | $ | 4.7 |  |  | $ | 10.5 |
(a) Changes in the fair value of contingent consideration liabilities are included as a component of Acquisition and integration-related expenses, net on the Condensed Consolidated Statements of Operations.

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + 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 -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 -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 + Details
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