XML 52 R36.htm IDEA: XBRL DOCUMENT v3.22.4

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Financial Liabilities Measured on Recurring Basis

The following table sets forth the carrying values and fair values of the Company’s financial liabilities measured on a non-recurring basis, categorized by input level within the fair value hierarchy:

(in thousands)		Carrying Value				Fair Value (Level 2)
Balance at December 31, 2022
Term Loan Facility		$	1,298,500			$	1,372,125
Notes			775,000				736,517
Government loans for COVID-19 relief			4,480				4,723
Other			1,207				1,207
Total long-term debt		$	2,079,187			$	2,114,572

(in thousands)		Carrying Value				Fair Value (Level 2)
Balance at December 31, 2021
Term Loan Facility		$	1,311,750			$	1,406,552
Notes			775,000				894,611
Government loans for COVID-19 relief			5,212				5,615
Other			1,113				1,113
Total long-term debt		$	2,093,075			$	2,307,891

The fair value of debt reported in the table above is based on adjusted price quotations on the debt instruments in an active market. The Company believes that the carrying value of its other borrowings, including amounts outstanding, if any, for the Revolving Credit Facility, approximate fair market value based on maturities for debt of similar terms.

Fair Value, Recurring [Member]

Summary of Financial Assets and Liabilities Measured on Recurring Basis

The following table sets forth the Company’s financial assets and liabilities measured on a recurring basis at fair value, categorized by input level within the fair value hierarchy. The carrying amounts of “Cash and cash equivalents”, “Accounts receivable”, and “Accounts payable” approximate fair value due to the short-term maturities of these financial instruments in the Consolidated Balance Sheets.

		December 31, 2022
(in thousands)		Fair Value				Level 1				Level 2				Level 3
Assets measured at fair value
Derivative financial instruments		$	47,493			$	—			$	47,493			$	—
Total assets measured at fair value		$	47,493			$	—			$	47,493			$	—
Liabilities measured at fair value
Warrant liability		$	953			$	—			$	953			$	—
Contingent consideration liabilities			20,334				—				—				20,334
Total liabilities measured at fair value		$	21,287			$	—			$	953			$	20,334

		December 31, 2021
(in thousands)		Fair Value				Level 1				Level 2				Level 3
Assets measured at fair value
Derivative financial instruments		$	10,164			$	—			$	10,164			$	—
Total assets measured at fair value		$	10,164			$	—			$	10,164			$	—
Liabilities measured at fair value
Derivative financial instruments		$	385			$	—			$	385			$	—
Warrant liability			22,189				—				—				22,189
Contingent consideration liabilities			58,366				—				—				58,366
Total liabilities measured at fair value		$	80,940			$	—			$	385			$	80,555

X

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

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

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

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

X

- Details

Name:	us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: