v3.25.2
Financial Instruments and Contingent Consideration (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Estimated Fair Value of Financial Instruments The estimated fair values of our financial instruments and contingent consideration are as follows:

 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Carrying
Amount

 

 

Estimated
Fair Value

 

 

Carrying
Amount

 

 

Estimated
Fair Value

 

Liabilities, net:

 

 

 

 

 

 

 

 

 

 

 

 

Total long-term debt, including current portion

 

$

(484.3

)

 

$

(484.3

)

 

$

(525.1

)

 

$

(525.1

)

Interest rate swap contracts

 

 

(4.0

)

 

 

(4.0

)

 

 

(1.5

)

 

 

(1.5

)

Acquisition-related contingent consideration

 

 

(2.1

)

 

 

(2.1

)

 

 

(3.2

)

 

 

(3.2

)

Schedule of Liabilities Measured at Fair Value on a Recurring Basis

The liabilities measured at fair value on a recurring basis and reported on the Condensed Consolidated Balance Sheets is summarized below:

 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Fair value based on

 

 

Fair value based on

 

 

 

Other
observable
inputs

 

 

Other
unobservable
inputs

 

 

Other
observable
inputs

 

 

Other
unobservable
inputs

 

 

 

Level 2

 

 

Level 3

 

 

Level 2

 

 

Level 3

 

Liabilities, net:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contracts

 

$

(4.0

)

 

$

-

 

 

$

(1.5

)

 

$

-

 

Acquisition-related contingent consideration

 

 

-

 

 

 

(2.1

)

 

 

-

 

 

 

(1.7

)

 

Schedule of Weighted-average Of Significant Unobservable Inputs

The following table summarizes the weighted average of the significant unobservable inputs as of June 30, 2025:

 

 

 

BOK

 

 

Insolcorp

 

Unobservable input

 

 

 

 

 

 

Volatility

 

 

27.5

%

 

 

25.0

%

Discount rates

 

 

4.0

%

 

 

3.8

%

Schedule of Changes in Fair Value of the Acquisition-related Contingent Consideration Liability

The changes in fair value of the acquisition-related contingent consideration liabilities for the three and six months ended June 30, 2025 and 2024 were as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Fair value of contingent consideration as of beginning of period

 

$

2.0

 

 

$

1.3

 

 

$

3.2

 

 

$

1.6

 

Cash consideration paid

 

 

-

 

 

 

-

 

 

 

(1.5

)

 

 

-

 

Loss related to change in fair value of contingent consideration

 

 

0.1

 

 

 

0.7

 

 

 

0.4

 

 

 

0.4

 

Fair value of contingent consideration as of end of period

 

$

2.1

 

 

$

2.0

 

 

$

2.1

 

 

$

2.0