XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Derivatives | 9 Months Ended
--- | ---
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives | Note 7. Derivatives 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 was $405.0 million through February 2022 at which time the notional amount was reduced to $300.0 million through February 2024. The following is a summary of location and fair value of the financial position recorded related to the derivative instruments (in thousands):
|  |  |  | Fair Value |
Derivatives not designated as hedging instruments |  | Balance Sheet Location |  | As of September 30, 2022 |  |  | As of December 31, 2021 |
Interest rate swaps |  | Prepaid expenses and other current assets |  | $ | 11,754 |  |  | $ | 197 |
The following is a summary of location and amount of gains and (losses) recorded related to the derivative instruments (in thousands):
|  |  |  | Gain/(Loss) |
|  |  |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
Derivatives not designated as hedging instruments |  | Income Statement Location |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Interest rate swaps |  | Interest expense, net |  | $ | 3,998 |  |  | $ | (108 | ) |  | $ | 11,376 |  |  | $ | 845 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI https://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126731327&loc=d3e90205-114008 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration