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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
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, 2024

 

 

 

 

 

 

Term Loan Facility

 

$

1,105,995

 

 

$

1,153,346

 

Senior Secured Notes

 

 

615,087

 

 

 

612,533

 

Total long-term debt

 

$

1,721,082

 

 

$

1,765,879

 

 

(in thousands)

 

Carrying Value

 

 

Fair Value
(Level 2)

 

Balance at December 31, 2023

 

 

 

 

 

 

Term Loan Facility

 

$

1,149,057

 

 

$

1,221,012

 

Senior Secured Notes

 

 

743,000

 

 

 

745,223

 

Other notes

 

 

426

 

 

 

100

 

Total long-term debt

 

$

1,892,483

 

 

$

1,966,335

 

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, 2024

 

(in thousands)

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

796

 

 

$

 

 

$

796

 

 

$

 

Total assets measured at fair value

 

$

796

 

 

$

 

 

$

796

 

 

$

 

Liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability

 

$

82

 

 

$

 

 

$

82

 

 

$

 

Total liabilities measured at fair value

 

$

82

 

 

$

 

 

$

82

 

 

$

 

 

 

 

December 31, 2023

 

(in thousands)

 

Fair Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

$

26,344

 

 

$

 

 

$

26,344

 

 

$

 

Total assets measured at fair value

 

$

26,344

 

 

$

 

 

$

26,344

 

 

$

 

Liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability

 

$

667

 

 

$

 

 

$

667

 

 

$

 

Contingent consideration liabilities

 

 

18,355

 

 

 

 

 

 

 

 

 

18,355

 

Total liabilities measured at fair value

 

$

19,022

 

 

$

 

 

$

667

 

 

$

18,355