Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 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 recurring basis, categorized by input level within the fair value hierarchy:

(in thousands)	Carrying Value		Fair Value (Level 2)
Balance at June 30, 2022
Term Loan Facility	$	1,305,125	$	1,297,766
Notes		775,000		730,536
Revolving Credit Facility		45,000		45,000
Government loans for COVID-19 relief		4,411		4,625
Other		1,585		1,585
Total long-term debt	$	2,131,121	$	2,079,512

(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

Summarizes the Changes in the Carrying Value of Estimated Contingent Consideration Liabilities

The following table summarizes the changes in the carrying value of estimated contingent consideration liabilities:

	June 30,
(in thousands)	2022			2021
Beginning of the period	$	58,366		$	45,901
Fair value of acquisitions		510			5,116
Changes in fair value		5,788			3,361
Payments		(20,882	)		(6,399	)
Measurement period adjustments		—			(1,181	)
Foreign exchange translation effects		(397	)		45
End of the period	$	43,385		$	46,843

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.

	June 30, 2022
(in thousands)	Fair Value		Level 1		Level 2		Level 3
Assets measured at fair value
Derivative financial instruments	$	36,717	$	—	$	36,717	$	—
Total assets measured at fair value	$	36,717	$	—	$	36,717	$	—
Liabilities measured at fair value
Warrant liability	$	1,833	$	—	$	1,833	$	—
Contingent consideration liabilities		43,385		—		—		43,385
Total liabilities measured at fair value	$	45,218	$	—	$	1,833	$	43,385

	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