Preferred Stock

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Preferred Stock

Preferred Stock

Prior to June 30, 2020, the Company classified its Series A Preferred Stock as mezzanine equity because the instrument contained a redemption feature which was contingent upon certain events, the occurrence of which was not solely within the control of the Company.

Prior to redemption, we had bifurcated embedded derivatives and assessed fair value each reporting date through June 30, 2020 and recorded a loss of $32.8 million within ‘‘Other income (expense)— net’’ for the nine months ended September 30, 2020.

Upon the closing of the IPO on July 6, 2020 (see further discussion in Note 2), we redeemed all of the outstanding Series A Preferred Stock as required by the Certificate of Designation. In addition, we made the total make-whole payment of $205.2 million. The Series A Preferred Stock was fully accreted to the redeemable balance of $1,067.9 million using the interest method prior to the redemption. Total accretion of $36.1 million was recorded for the nine months ended September 30, 2020.

On May 14, 2020, March 4, 2020, July 30, 2019 and May 31, 2019, the board of directors of Dun & Bradstreet Holdings, Inc. declared a cash dividend of $30.51 per share to all holders of shares of Series A Preferred Stock. An aggregate amount of $32.1 million, $32.0 million, $32.1 million, $10.7 million and $21.3 million was paid on June 26, 2020, March 27, 2020, September 27, 2019, June 28, 2019 and on June 19, 2019, respectively.