v3.22.2.2
FAIR VALUE MEASUREMENTS
9 Months Ended
Sep. 25, 2022
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
12. FAIR VALUE MEASUREMENTS
The following table presents fair values of certain assets and liabilities at September 25, 2022 and December 31, 2021:
September 25, 2022 December 31, 2021
(in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Cash equivalents(1)
$ 32.1  $   $   $ 118.4  $ —  $ — 
7.50% senior notes due 2027(2)
  276.8    —  319.5  — 
4.75% senior notes due 2029(2)
  265.1    —  350.6  — 
1.75% convertible notes due 2028(2)
  189.4    —  269.8  — 
1.00% convertible notes due 2023(2)
  167.1    —  194.1  — 
Term loan due 2027(3)
  140.6    —  144.4  — 
Revolver due 2027(3)
  135.0    —  135.0  — 
Interest rate swaps(4)
      —  1.0  — 
Contingent consideration(5)
    10.7  —  —  12.3 
(1) The carrying amounts of cash equivalents, representing government and other money market funds traded in an active market with relatively short maturities, are reported on the condensed consolidated balance sheet as of September 25, 2022 and December 31, 2021 as a component of "Cash and cash equivalents".
(2) The amounts of these notes listed above are the current fair values for disclosure purposes only, and they are recorded in the Company's condensed consolidated balance sheets as of September 25, 2022 and December 31, 2021 using the interest rate method.
(3) The carrying amounts of our term loan and revolver approximate fair value as of September 25, 2022 and December 31, 2021 based upon their terms and conditions in comparison to the terms and conditions of debt instruments with similar terms and conditions available at those dates.
(4) The interest rate swaps are discussed further in Note 10.
(5) The estimated fair value of the Company's contingent consideration is discussed further in Note 6.