v3.25.2
Hybrid Instruments Liabilities (Tables)
6 Months Ended
Jun. 30, 2025
Hybrid Instruments [Abstract]  
Schedule of changes in hybrid instrument liability

The following table sets forth the changes in hybrid instruments liability (in millions):

Balance at December 31, 2024

 

$

78.1

 

Acquisitions

 

 

 

Current period adjustments

 

 

1.7

 

Current period settlements

 

 

 

Foreign currency effect

 

 

3.8

 

Balance at June 30, 2025

 

$

83.6

 

Schedule of fair value measurements of hybrid instrument liabilities

The Level 3 fair value measurements of our hybrid instrument liabilities include the following significant unobservable inputs:

 

Hybrid Instrument Liabilities

Valuation Technique

Unobservable Input

Range

Weighted Average (a)

Put / Call Options

Option Pricing Model

Revenue Risk Premium

1.6% - 12.6%

10.6%

 

 

EBITDA Risk Premium

10.1% - 25.1%

21.4%

a)
Unobservable inputs were weighted by the relative fair value of the hybrid instrument liabilities.