Additional contingent consideration incurred

  
The following tables set forth the Company’s financial assets and liabilities at June 30, 2022 and 2021, respectively, that are recorded at fair value, segregated by level within the fair value hierarchy:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
|   |  | (in millions) |
| Assets: |  |  |  |  |  |  |  |  |
| Cash and cash equivalents: |  |  |  |  |  |  |  |  |
| Money market funds (a) |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |
| Other current assets: |  |  |  |  |  |  |  |  |
| Securities |  | 0.6  |  |  | —  |  |  | —  |  |  | 0.6  |  |
| Other non-current assets: |  |  |  |  |  |  |  |  |
| Securities |  | 118.0  |  |  | —  |  |  | —  |  |  | 118.0  |  |
|        Derivative asset |  | —  |  |  | 101.4  |  |  | —  |  |  | 101.4  |  |
| Total assets as of June 30, 2022 |  | $ | 118.7  |  |  | $ | 101.4  |  |  | $ | —  |  |  | $ | 220.1  |  |
| Liabilities: |  |  |  |  |  |  |  |  |
| Contingent consideration obligations |  | $ | —  |  |  | $ | —  |  |  | $ | 12.9  |  |  | $ | 12.9  |  |
| Total liabilities as of June 30, 2022 |  | $ | —  |  |  | $ | —  |  |  | $ | 12.9  |  |  | $ | 12.9  |  |



|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
|   |  | (in millions) |
| Assets: |  |  |  |  |  |  |  |  |
| Cash and cash equivalents: |  |  |  |  |  |  |  |  |
| Money market funds (a) |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |
| Other current assets: |  |  |  |  |  |  |  |  |
| Securities |  | 0.7  |  |  | —  |  |  | —  |  |  | 0.7  |  |
| Other non-current assets: |  |  |  |  |  |  |  |  |
| Securities |  | 120.6  |  |  | —  |  |  | —  |  |  | 120.6  |  |
| Total assets as of June 30, 2021 |  | $ | 121.2  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 121.2  |  |
| Liabilities: |  |  |  |  |  |  |  |  |
| Contingent consideration obligations |  | $ | —  |  |  | $ | —  |  |  | $ | 23.2  |  |  | $ | 23.2  |  |
| Total liabilities as of June 30, 2021 |  | $ | —  |  |  | $ | —  |  |  | $ | 23.2  |  |  | $ | 23.2  |  |

  (a)Money market funds include money market deposit account balances of $0.0 million and less than $0.1 million as of June 30, 2022 and 2021, respectively.In addition, the Company has non-marketable securities with a carrying amount of $53.4 million as of June 30, 2022 and $37.5 million as of June 30, 2021 that are classified as Level 2 financial assets and included as part of Other non-current assets. The following table sets forth an analysis of changes during fiscal years 2022 and 2021 in Level 3 financial liabilities of the Company:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | June 30, |
|  |  | 2022 |  | 2021 |
|   |  | (in millions) |
| Beginning balance |  | $ | 23.2  |  |  | $ | 33.1  |  |
| Additional contingent consideration incurred |  | —  |  |  | 7.3  |  |
| Net increase (decrease) in contingent consideration liability |  | 1.1  |  |  | (1.5) |  |
| Foreign currency impact |  | (1.0) |  |  | 1.8  |  |
| Payments |  | (10.4) |  |  | (17.5) |  |
| Ending balance |  | $ | 12.9  |  |  | $ | 23.2  |  |

73  

