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Fair Value Measurements | 9 Months Ended
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Sep. 30, 2022
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements Assets and Liabilities Recorded at Fair Value on a Recurring Basis The following table provides a summary of the Company’s assets and liabilities that were recognized at fair value on a recurring basis as at September 30, 2022 and December 31, 2021:
|  |  | September 30, 2022
|  |  | Level 2 |  | Level 3 |  | Total Fair Value
Assets |  |  |  |  |  |  |
Interest rate swap asset - current |  |  | $ | 2.5 |  |  | $ | — |  |  | $ | 2.5 |
Interest rate swap asset - non-current |  |  | 50.4 |  |  | — |  |  | 50.4 |
Total |  |  | $ | 52.9 |  |  | $ | — |  |  | $ | 52.9 |
Liabilities |  |  |  |  |  |  |
Warrant liability |  |  | $ | — |  |  | $ | 25.1 |  |  | $ | 25.1 |
CPA Global Equity Plan liability - current |  |  | 7.9 |  |  | — |  |  | 7.9 |
Forward currency contracts liability - current |  |  | 7.8 |  |  | — |  |  | 7.8 |
Total |  |  | $ | 15.7 |  |  | $ | 25.1 |  |  | $ | 40.8 |
|  |  | December 31, 2021
|  |  | Level 2 |  | Level 3 |  | Total Fair Value
Assets |  |  |  |  |  |  |
Forward currency contracts asset - current |  |  | $ | 2.2 |  |  | $ | — |  |  | $ | 2.2 |
Interest rate swap asset - non-current |  |  | 2.0 |  |  | — |  |  | 2.0 |
Total |  |  | $ | 4.2 |  |  | $ | — |  |  | $ | 4.2 |
Liabilities |  |  |  |  |  |  |
Warrant liability |  |  | $ | — |  |  | $ | 227.8 |  |  | $ | 227.8 |
CPA Global Equity Plan liability - current |  |  | 152.4 |  |  | — |  |  | 152.4 |
Forward currency contracts liability - current |  |  | 0.7 |  |  | — |  |  | 0.7 |
Total |  |  | $ | 153.1 |  |  | $ | 227.8 |  |  | $ | 380.9 |
Private Placement Warrants - The following table summarizes the changes in the Private Placement Warrants liability for the three and nine months ended September 30, 2022 and 2021:
Balance at December 31, 2021 | $ | 227.8 |  |  |
Mark to market gain on financial instruments | (100.4) |  |  |
Exercise of Private Placement Warrants | — |  |  |
Balance at March 31, 2022 | $ | 127.4 |  |  |
Mark to market gain on financial instruments | (49.0) |  |  |
Exercise of Private Placement Warrants | — |  |  |
Balance at June 30, 2022 | $ | 78.4 |  |  |
Mark to market gain on financial instruments | (53.3) |  |  |
Exercise of Private Placement Warrants | — |  |  |
Balance at September 30, 2022 | $ | 25.1 |  |  |
Balance at December 31, 2020 | $ | 312.8 |  |  |
Mark to market gain on financial instruments | (51.2) |  |  |
Exercise of Private Placement Warrants | (3.6) |  |  |
Balance at March 31, 2021 | $ | 258.0 |  |  |
Mark to market loss on financial instruments | 21.0 |  |  |
Exercise of Private Placement Warrants | — |  |  |
Balance at June 30, 2021 | $ | 279.0 |  |  |
Mark to market gain on financial instruments | (83.0) |  |  |
Exercise of Private Placement Warrants | — |  |  |
Balance at September 30, 2021 | $ | 196.0 |  |  |
There were no transfers of assets or liabilities between levels during the three and nine months ended September 30, 2022 and 2021. Non-Financial Assets Valued on a Non-Recurring Basis Right of Use Asset — The Company recorded a non-cash impairment charge to reduce the carrying value of operating lease right of use assets by $2.3 and $0.8 for the three months ended September 30, 2022 and 2021, respectively, and $8.5 and $51.0 for the nine months ended September 30, 2022 and 2021, respectively. Additionally, the Company incurred $0.0 and $0.2 in lease termination fees for the three months ended September 30, 2022 and 2021, respectively, and $0.4 and $3.3 during the nine months ended September 30, 2022 and 2021, respectively. Fair value assumptions including sublease probabilities and the present value factor were used in the impairment calculation.

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- References No definition available. + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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