XML 44 R37.htm IDEA: XBRL DOCUMENT v3.25.1

Fair Value Measurements (Tables)

3 Months Ended

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	%

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration