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Fair Value of Financial Instruments | 6 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments | 16. Fair Value of Financial Instruments The Company measures the following financial assets and liabilities at fair value on a recurring basis. The following tables set forth the Company’s financial instruments and presents them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement (in millions):
June 30, 2025 |  | Total |  |  | Quoted Prices in Active Markets Available (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Time deposits and money market funds |  | $ | 0.6 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | — |
Interest rate and cross-currency swap agreements (note 17) |  |  | 9.2 |  |  |  | — |  |  |  | 9.2 |  |  |  | — |
Forward currency contracts |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |  |  |  | — |
Total assets recorded at fair value |  | $ | 10.0 |  |  | $ | 0.6 |  |  | $ | 9.4 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration (note 18) |  | $ | 13.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 13.9 |
Hybrid instruments liabilities (note 19) |  |  | 83.6 |  |  |  | — |  |  |  | — |  |  |  | 83.6 |
Interest rate and cross-currency swap agreements (note 17) |  |  | 42.8 |  |  |  | — |  |  |  | 42.8 |  |  |  | — |
Forward currency contracts |  |  | 3.3 |  |  |  | — |  |  |  | 3.3 |  |  |  | — |
Equity interest purchase option liability (a) |  |  | 17.0 |  |  |  | — |  |  |  | — |  |  |  | 17.0 |
Total liabilities recorded at fair value |  | $ | 160.6 |  |  | $ | — |  |  | $ | 46.1 |  |  | $ | 114.5 |
December 31, 2024 |  | Total |  |  | Quoted Prices in Active Markets Available (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Time deposits and money market funds |  | $ | 17.2 |  |  | $ | — |  |  | $ | 17.2 |  |  | $ | — |
Interest rate and cross-currency swap agreements (note 17) |  |  | 21.8 |  |  |  | — |  |  |  | 21.8 |  |  |  | — |
Forward currency contracts |  |  | 6.0 |  |  |  | — |  |  |  | 6.0 |  |  |  | — |
Total assets recorded at fair value |  | $ | 45.0 |  |  | $ | — |  |  | $ | 45.0 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration (note 18) |  | $ | 17.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 17.3 |
Hybrid instruments liabilities (note 19) |  |  | 78.1 |  |  |  | — |  |  |  | — |  |  |  | 78.1 |
Interest rate and cross-currency swap agreements (note 17) |  |  | 17.2 |  |  |  | — |  |  |  | 17.2 |  |  |  | — |
Forward currency contracts |  |  | 0.5 |  |  |  | — |  |  |  | 0.5 |  |  |  | — |
Equity interest purchase option liability (a) |  |  | 14.9 |  |  |  | — |  |  |  | — |  |  |  | 14.9 |
Total liabilities recorded at fair value |  | $ | 128.0 |  |  | $ | — |  |  | $ | 17.7 |  |  | $ | 110.3 |
a) Equity interest purchase option liability is related to NovAliX, refer to Note 4, Minority and equity-method investments, for more information. Refer to Note 2, Summary of Significant Accounting Policies to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024, for further information on the risks and valuation methodology used for assets and liabilities measured or disclosed at fair value.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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