v3.26.1
Hybrid Instruments Liabilities
6 Months Ended
Jun. 30, 2026
Hybrid Instruments [Abstract]  
Hybrid Instruments Liabilities
19.
Hybrid Instruments Liabilities

Related to certain other majority owned acquisitions, the Company has entered into agreements with the noncontrolling interest holders that provide the Company with the right to purchase, and the noncontrolling interest holders with the right to sell the remaining ownerships for cash at contractually defined redemption values. Refer to Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements included in the 2025 Form 10-K, for more information on the Company’s policy on hybrid instruments liabilities.

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

Balance at December 31, 2025

 

$

19.6

 

Acquisitions

 

 

 

Current period adjustments

 

 

0.3

 

Current period settlements

 

 

 

Foreign currency effect

 

 

(0.1

)

Balance at June 30, 2026

 

$

19.8

 

The significant unobservable inputs used to measure the fair value of the Company's Level 3 hybrid instrument liabilities for the six months ended June 30, 2026, were unchanged from those disclosed in the 2025 Form 10-K.