Annual report [Section 13 and 15(d), not S-K Item 405]

Fair Value Measurements (Tables)

v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

Our assets and liabilities measured at fair value on a recurring basis consist of the following:

 

 

Fair Value Measurements Using

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

December 31, 2024:

 

 

 

 

 

 

 

 

 

Liabilities — Munger make-whole provision

 

$

—

 

 

$

—

 

 

$

8.6

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023:

 

 

 

 

 

 

 

 

 

Assets — Investment in BPC

 

$

—

 

 

$

—

 

 

$

23.4

 

 

 

 

 

 

 

 

 

 

 

Liabilities — Munger make-whole provision

 

$

—

 

 

$

—

 

 

$

7.5

 
Reconciliation of Recurring Level 3 Fair Value Measurements

The following is a reconciliation of our recurring Level 3 fair value measurements:

 

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

Net asset (liability) balance at beginning of period

 

$

15.9

 

 

$

46.6

 

 

Change in fair value of Level 3 fair value measurements

 

 

0.4

 

 

 

(30.7

)

 

Transfer of investment in BPC to acquisition purchase consideration

 

 

(24.9

)

 

 

—

 

 

Net asset (liability) balance at end of period

 

$

(8.6

)

 

$

15.9