Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Our financial assets and liabilities measured at fair value on a recurring basis were categorized as follows:


	June 30, 2024
	Level 1		Level 2			Level 3			Total
	(In millions)
Assets
Available for sale customer funds assets	$	—	$	2,303.5	(a)	$	—		$	2,303.5
Total assets measured at fair value	$	—	$	2,303.5		$	—		$	2,303.5

Liabilities
DataFuzion contingent consideration	$	—	$	—		$	14.9	(b)	$	14.9
Total liabilities measured at fair value	$	—	$	—		$	14.9		$	14.9


	December 31, 2023
	Level 1		Level 2			Level 3			Total
	(In millions)
Assets
Available for sale customer funds assets	$	—	$	2,178.3	(a)	$	—		$	2,178.3
Total assets measured at fair value	$	—	$	2,178.3		$	—		$	2,178.3

Liabilities
DataFuzion contingent consideration	$	—	$	—		$	14.9	(b)	$	14.9
Total liabilities measured at fair value	$	—	$	—		$	14.9		$	14.9

(a)

Fair value is based on inputs that are observable for the asset or liability, other than quoted prices.

(b)

For the contingent consideration related to the 2021 acquisition of certain assets and liabilities of DataFuzion HCM, Inc. ("DataFuzion"), we utilized a Monte Carlo simulation model to estimate the fair value of the contingent liability as of the reporting dates. As of June 30, 2024 and December 31, 2023, $8.6 million of the contingent consideration is included within other accrued expenses in our condensed consolidated balance sheets, and $6.3 million of the contingent consideration is included within other liabilities in our condensed consolidated balance sheets.