In February 2020, the Company entered into an interest rate collar agreement with a counterparty bank in order to reduce its exposure to interest rate volatility. In this agreement, the Company and the counterparty bank agreed to a one-month USD LIBOR floor of 0.48% and a cap of 1.50% on a portion of the Company’s Successor First Lien Facility. The notional amount of this agreement is $405.0 million through February 2022 at which time the notional amount reduces to $300.0 million through February 2024.

The following is a summary of location and fair value of the financial position and location and amount of gains and (losses) recorded related to the derivative instruments recorded (in thousands):


		Fair Value					Gain/(Loss)
Derivatives not designated as hedging instruments	Balance Sheet Location	As of March 31, 2022		As of December 31, 2021		Income Statement Location	Three Months Ended March 31, 2022		Three Months Ended March 31, 2021
Interest rate swaps	Prepaid expenses and other current assets	$	5,842	$	197	Interest (income) expense, net	$	5,260	$	1,032