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Fair value measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy of Assets and Liabilities

The table below presents information about the Company's assets and liabilities that are regularly measured and carried at fair value and indicates the level within the fair value hierarchy of the valuation techniques the Company utilized to determine fair value:

			September 30, 2023															December 31, 2022 (As Restated)
			Total			Level 1			Level 2			Level 3						Total			Level 1			Level 2			Level 3
Assets:
Money market accounts			$	37.2		$	37.2		$	—		$	—					$	320.8		$	320.8		$	—		$	—
Time deposits			—			—			—			—						170.7			—			170.7			—
Derivative instruments			—			—			—			—						8.5			—			8.5			—
Total			$	37.2		$	37.2		$	—		$	—					$	500.0		$	320.8		$	179.2		$	—
Liabilities:
Contingent consideration			$	5.4		$	—		$	—		$	5.4					$	8.0		$	—		$	—		$	8.0
Total			$	5.4		$	—		$	—		$	5.4					$	8.0		$	—		$	—		$	8.0

Schedule of Contingent Consideration Roll Forward

The table below is a reconciliation of the beginning and ending balance of the Company's Level 3 contingent consideration liability:

						Contingent Consideration
Balance at December 31, 2022 (As Restated)						$	8.0
Change in fair value						0.3
Settlements						(0.7)
Balance at March 31, 2023						$	7.6
Change in fair value						0.4
Settlements						(0.6)
Balance at June 30, 2023						$	7.4
Change in fair value						(1.1)
Settlements						(0.9)
Balance at September 30, 2023						$	5.4

Schedule of Fair Value Level 3 of Significant Unobservable Inputs

The recurring Level 3 fair value measurement for the Company's contingent consideration liability used the following significant unobservable inputs:

Contingent Consideration Liability

Fair Value as of September 30, 2023

Valuation Technique

Unobservable Input

Range

Royalty based

$5.4 million

Discounted cash flow

Discount rate

10.4%

Probability of payment

0% - 75%

Projected year of payment

2023 - 2028

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are 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. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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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

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-Section 50
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