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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis | Our assets and liabilities measured at fair value on a recurring basis consist of the following:
|  | Fair Value Measurements Using |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
June 30, 2024: |  |  |  |  |  |  |  |  |
Liabilities — Munger make-whole provision |  | $ | — |  |  | $ | — |  |  | $ | 8.8 |
December 31, 2023: |  |  |  |  |  |  |  |  |
Assets — Investment in BPC |  | $ | — |  |  | $ | — |  |  | $ | 23.4 |
Liabilities — Munger make-whole provision |  | $ | — |  |  | $ | — |  |  | $ | 7.5 |
Reconciliation of Recurring Level 3 Fair Value Measurements | The following is a reconciliation of our recurring Level 3 fair value measurements:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net asset balance at beginning of period |  | $ | 17.1 |  |  | $ | 40.3 |  |  | $ | 15.9 |  |  | $ | 46.6 |
Change in fair value of Level 3 fair value measurements |  |  | (1.0 | ) |  |  | (5.8 | ) |  |  | 0.2 |  |  |  | (12.1 | )
Transfer of investment in BPC to acquisition purchase consideration |  |  | (24.9 | ) |  |  | — |  |  |  | (24.9 | ) |  |  | — |
Net asset (liability) balance at end of period |  | $ | (8.8 | ) |  | $ | 34.5 |  |  | $ | (8.8 | ) |  | $ | 34.5 |
Summary of Carrying Amounts and Fair Value of Financial Instruments | The carrying amounts of our term loan facility and ABL credit facility approximate fair value due to the variable interest rate. The fair value of our fixed rate debt, which includes the Monarch note and the Equify note was as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
Carrying amount of fixed rate debt |  | $ | 50.7 |  |  | $ | 74.7 |
Fair value of fixed rate debt |  | $ | 49.9 |  |  | $ | 74.3 |

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- Definition Fair value disclosure of asset and liability measured at fair value on recurring basis. + References No definition available. + Details
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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: 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 Reference 2: 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 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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/2009/role/commonPracticeRef -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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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