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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Summary of Carrying Amounts and Fair Values of Financial Instruments | The following table summarizes the carrying amounts and fair values of financial instruments:
|  |  |  |  |  | As of March 31, 2025 |  |  | As of December 31, 2024 |
|  | Balance Sheet Classification |  | Level |  | Carrying Amount |  |  | Fair Value |  |  | Carrying Amount |  |  | Fair Value |
|  |  |  |  |  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | Prepaid expenses and other current assets |  | 2 |  | $ | 908 |  |  | $ | 908 |  |  | $ | 1,539 |  |  | $ | 1,539 |
Total assets |  |  |  |  |  | $ | 908 |  |  | $ | 908 |  |  | $ | 1,539 |  |  | $ | 1,539 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate caps |  | Accrued expenses and other current liabilities |  | 2 |  |  | 8,510 |  |  |  | 8,510 |  |  |  | 8,967 |  |  |  | 8,967 |
Interest rate caps |  | Other non-current liabilities |  | 2 |  |  | 4,043 |  |  |  | 4,043 |  |  |  | 3,709 |  |  |  | 3,709 |
Contingent consideration - current |  | Accrued expenses and other current liabilities |  | 3 |  |  | 7,000 |  |  |  | 7,000 |  |  |  | 7,000 |  |  |  | 7,000 |
Contingent consideration - non-current |  | Other non-current liabilities |  | 3 |  |  | 8,150 |  |  |  | 8,150 |  |  |  | 8,150 |  |  |  | 8,150 |
Long-term debt, including current portion: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
New 2024 Term Loan Facility |  | (1) |  | 2 |  |  | 2,207,593 |  |  |  | 2,244,375 |  |  |  | 2,211,822 |  |  |  | 2,250,000 |
Total liabilities |  |  |  |  |  | $ | 2,235,296 |  |  | $ | 2,272,078 |  |  | $ | 2,239,648 |  |  | $ | 2,277,826 |
(1) The carrying amount of debt instruments is presented net of the debt issuance costs, premium and discount. Refer to Note 8, “Long-Term Debt”, for gross carrying amounts
Summary of Gains (Losses) on Derivative Instruments | The gains (losses) on the Company’s derivative instruments were as follows:
|  |  |  | Three months ended March 31, |
|  | Statement of Operations Classification |  | 2025 |  |  | 2024 |
|  |  |  | (in thousands) |
Amount of gain (loss) recognized in net income (loss): |  |  |  |  |  |  |  |
Interest rate swaps |  | Interest expense |  | $ | 621 |  |  | $ | 5,187 |
Interest rate caps |  | Interest expense |  |  | (2,699 | ) |  |  | 384 |
Foreign exchange contracts |  | Selling, general and administrative expense |  |  | — |  |  |  | 220 |
Total gain (loss) in net income (loss) |  |  |  | $ | (2,078 | ) |  | $ | 5,791 |
Amount of gain (loss) recognized in other comprehensive income (loss): |  |  |  |  |  |  |  |
Interest rate swaps |  | Cash flow hedge gain |  | $ | (9 | ) |  | $ | 4,803 |
Interest rate caps |  | Cash flow hedge loss |  |  | (2,624 | ) |  |  | 5,376 |
Foreign exchange contracts |  | Cash flow hedge gain (loss) |  |  | — |  |  |  | (617 | )
Total gain recognized in other comprehensive income (loss) |  |  |  | $ | (2,633 | ) |  | $ | 9,562 |
Significant Inputs used in Calculating Fair Value of Contingent Consideration Liability | The following table represents the significant inputs used in calculating the fair value of the contingent consideration liability on the issuance date and as of March 31, 2025:
Longest midpoint term |  |  | 1.86 |
Gross profit discount rate |  |  | 10.7 | %
Risk-free rate |  |  | 3.9 | %
Gross profit volatility |  |  | 23.3 | %
Payment discount rate |  |  | 13.2 | %

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