v3.25.2
Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of financial instruments recorded at fair value on a recurring basis The following tables set forth the Company’s financial instruments and presents them within the fair value hierarchy using the lowest level of input that is significant to the fair value measurement (in millions):

June 30, 2025

 

Total

 

 

Quoted Prices
in Active
Markets
Available
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Time deposits and money market funds

 

$

0.6

 

 

$

0.6

 

 

$

—

 

 

$

—

 

Interest rate and cross-currency swap agreements (note 17)

 

 

9.2

 

 

 

—

 

 

 

9.2

 

 

 

—

 

Forward currency contracts

 

 

0.2

 

 

 

—

 

 

 

0.2

 

 

 

—

 

Total assets recorded at fair value

 

$

10.0

 

 

$

0.6

 

 

$

9.4

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration (note 18)

 

$

13.9

 

 

$

—

 

 

$

—

 

 

$

13.9

 

Hybrid instruments liabilities (note 19)

 

 

83.6

 

 

 

—

 

 

 

—

 

 

 

83.6

 

Interest rate and cross-currency swap agreements (note 17)

 

 

42.8

 

 

 

—

 

 

 

42.8

 

 

 

—

 

Forward currency contracts

 

 

3.3

 

 

 

—

 

 

 

3.3

 

 

 

—

 

Equity interest purchase option liability (a)

 

 

17.0

 

 

 

—

 

 

 

—

 

 

 

17.0

 

Total liabilities recorded at fair value

 

$

160.6

 

 

$

—

 

 

$

46.1

 

 

$

114.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

Total

 

 

Quoted Prices
in Active
Markets
Available
(Level 1)

 

 

Significant
Other
Observable
Inputs
(Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Time deposits and money market funds

 

$

17.2

 

 

$

—

 

 

$

17.2

 

 

$

—

 

Interest rate and cross-currency swap agreements (note 17)

 

 

21.8

 

 

 

—

 

 

 

21.8

 

 

 

—

 

Forward currency contracts

 

 

6.0

 

 

 

—

 

 

 

6.0

 

 

 

—

 

Total assets recorded at fair value

 

$

45.0

 

 

$

—

 

 

$

45.0

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration (note 18)

 

$

17.3

 

 

$

—

 

 

$

—

 

 

$

17.3

 

Hybrid instruments liabilities (note 19)

 

 

78.1

 

 

 

—

 

 

 

—

 

 

 

78.1

 

Interest rate and cross-currency swap agreements (note 17)

 

 

17.2

 

 

 

—

 

 

 

17.2

 

 

 

—

 

Forward currency contracts

 

 

0.5

 

 

 

—

 

 

 

0.5

 

 

 

—

 

Equity interest purchase option liability (a)

 

 

14.9

 

 

 

—

 

 

 

—

 

 

 

14.9

 

Total liabilities recorded at fair value

 

$

128.0

 

 

$

—

 

 

$

17.7

 

 

$

110.3

 
a)
Equity interest purchase option liability is related to NovAliX, refer to Note 4, Minority and equity-method investments, for more information.