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Hybrid Instruments Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2025
Hybrid Instruments [Abstract] |
Schedule of changes in hybrid instrument liability | The following table sets forth the changes in hybrid instruments liability (in millions):
Balance at December 31, 2024 |  | $ | 78.1 |
Acquisitions |  |  | — |
Current period adjustments |  |  | 1.7 |
Current period settlements |  |  | — |
Foreign currency effect |  |  | 3.8 |
Balance at June 30, 2025 |  | $ | 83.6 |
Schedule of fair value measurements of hybrid instrument liabilities | The Level 3 fair value measurements of our hybrid instrument liabilities include the following significant unobservable inputs:
Hybrid Instrument Liabilities | Valuation Technique | Unobservable Input | Range | Weighted Average (a)
Put / Call Options | Option Pricing Model | Revenue Risk Premium | 1.6% - 12.6% | 10.6%
|  | EBITDA Risk Premium | 10.1% - 25.1% | 21.4%
a) Unobservable inputs were weighted by the relative fair value of the hybrid instrument liabilities.

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