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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis The following tables present information about our financial instruments measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 June 30, 2022Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents$1,188.8 $0.0 $0.0 $1,188.8 Cash and cash equivalents
Liabilities
Contingent acquisition obligations 1
$0.0 $0.0 $24.6 $24.6 Accrued liabilities and Other non-current liabilities
 December 31, 2021Balance Sheet Classification
 Level 1Level 2Level 3Total
Assets
Cash equivalents$2,391.8 $0.0 $0.0 $2,391.8 Cash and cash equivalents
Liabilities
Contingent acquisition obligations 1
$0.0 $0.0 $33.5 $33.5 Accrued liabilities and Other non-current liabilities
1Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $8.9 from December 31, 2021 to June 30, 2022 is primarily due to valuation adjustments and payments related to our deferred acquisitions payments from prior-year acquisitions. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.
[1]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 June 30, 2022December 31, 2021
 Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Total long-term debt$0.0 $2,658.4 $37.6 $2,696.0 $0.0 $3,295.6 $41.8 $3,337.4 
[1] Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $8.9 from December 31, 2021 to June 30, 2022 is primarily due to valuation adjustments and payments related to our deferred acquisitions payments from prior-year acquisitions. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.