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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Disclosure of Fair Value and Carrying Value of Debt Instruments The estimated fair value, as well as the carrying value, of the Company's debt instruments are shown below:

 

December 31, 2024

 

 

December 31, 2023

 

Estimated aggregate fair value

$

706.4

 

 

$

655.6

 

Aggregate carrying value (1)

 

728.9

 

 

 

671.3

 

(1) Total debt excluding the impact of unamortized debt discount and debt issuance costs.

Schedule of Contingent Consideration Liabilities Recorded at Fair Value

The following table sets forth the Company’s contingent consideration liabilities recorded at fair value and their presentation on the Consolidated Balance Sheets:

 

Level 3

 

Balance Sheet Location

December 31, 2024

 

 

December 31, 2023

 

Other current liabilities

$

 

 

$

0.4

 

Other liabilities

 

5.7

 

 

 

4.2

 

Summary of Changes to Level 3 Instruments

The following is a summary of changes to Level 3 instruments for the years ended December 31, 2024 and 2023:

 

Contingent Consideration

 

Balance, December 31, 2022

$

9.8

 

Changes in fair value

 

1.1

 

Payments

 

(1.2

)

Non-contingent reclass

 

(5.1

)

Balance, December 31, 2023

$

4.6

 

Changes in fair value

 

1.1

 

Balance, December 31, 2024

$

5.7

 

Summary of Maturity Dates Unit of Measure and Notional Value for Derivative Instruments

The following table summarizes the maturity dates, unit of measure and notional value for the derivative instruments as of December 31, 2024:

Maturity Date of Derivatives

Currency / Unit of Measure

 

Notional Value

 

Interest rate cap (December 2025)

One-month SOFR

 

$

200.0

 

Fuel swaps (various through February 2026)

Gallons

 

 

4.0

 

Summary of Derivative Financial Instruments Measured at Fair Value

The following table sets forth the location and fair values of the Company’s derivative financial instruments on the Consolidated Balance Sheets:

 

Asset Derivatives

 

 

Liability Derivatives

 

Derivative designated as hedge

Balance Sheet location

 

December 31, 2024

 

 

December 31, 2023

 

 

Balance Sheet location

December 31, 2024

 

 

December 31, 2023

 

Interest rate cap - current portion

Prepaid expenses and other current assets

 

$

0.2

 

 

$

 

 

Other current liabilities

$

1.6

 

 

$

1.6

 

Interest rate cap - long-term

Other assets

 

 

 

 

 

1.7

 

 

Other liabilities

 

 

 

 

1.6