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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

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

The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows:

(in millions)						Quoted Prices in Active Markets (Level 1)						Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total Carrying Value
As of December 31, 2022
Assets:
Cash and cash equivalents—money market funds						$	75.4					$	—					$	—					$	75.4
Certificate of deposit						—						2.0						—						2.0
						$	75.4					$	2.0					$	—					$	77.4
Liabilities:
Contingent consideration						$	—					$	—					$	30.9					$	30.9

(in millions)						Quoted Prices in Active Markets (Level 1)						Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total Carrying Value
As of December 31, 2021
Assets:
Cash and cash equivalents—money market funds						$	164.9					$	—					$	—					$	164.9
Certificate of deposit						—						2.0						—						2.0
						$	164.9					$	2.0					$	—					$	166.9
Liabilities:
Contingent consideration						$	—					$	—					$	54.7					$	54.7

Schedule of Level 3 Liabilities

Level 3 liabilities consist entirely of contingent consideration, and the changes in fair values are as follows:

(in millions)
Year Ended December 31,						2022						2021
Balance as of beginning of year						$	54.7					$	36.5
Payment						(30.5)						—
Change in fair value, recognized in earnings						6.7						18.1
Other						—						0.1
Balance as of end of year						$	30.9					$	54.7

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- References

No definition available.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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