Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows:

(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value
As of March 31, 2022
Assets:
Cash and cash equivalents — money market funds	$	157.9	$	—	$	—	$	157.9
Certificate of deposit	—		2.0		—		2.0
	$	157.9	$	2.0	$	—	$	159.9
Liabilities:
Contingent consideration	$	—	$	—	$	58.6	$	58.6

(in millions)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Carrying Value
As of December 31, 2021
Assets:
Cash and cash equivalents — money market funds	$	164.9	$	—	$	—	$	164.9
Certificate of deposit	—		2.0		—		2.0
	$	164.9	$	2.0	$	—	$	166.9
Liabilities:
Contingent consideration	$	—	$	—	$	54.7	$	54.7

Schedule of Level 3 Liabilities

Level 3 liabilities consist entirely of contingent consideration, and the changes in fair value are as follows:

	Three Months Ended March 31,
(in millions)	2022		2021
Balance at beginning of period	$	54.7	$	36.5
Change in fair value, recognized in earnings	3.9		7.0
Balance at end of period	$	58.6	$	43.5