Deal-Contingent Foreign Currency Forward

On December 21, 2023, the Company entered into the Deal-Contingent Forward to manage the risk of appreciation of the GBP-denominated purchase price of the acquisition of Castel. The Deal-Contingent Forward had a 200.0 million GBP notional amount and was executed when the Castel acquisition closed on May 1, 2024. As the Deal-Contingent Forward was an economic hedge and had

not been designated as an accounting hedge, losses resulting from the Deal-Contingent Forward were recognized through earnings in the periods incurred.

Interest Rate Cap

In April 2022, the Company entered into an interest rate cap agreement to manage its exposure to interest rate fluctuations related to the Company’s Term Loan in the amount of $25.5 million. The interest rate cap has a $1,000.0 million notional amount, 2.75% strike, and terminates on December 31, 2025. At inception, the Company formally designated the interest rate cap as a cash flow hedge. As of June 30, 2024, the interest rate cap continued to be an effective hedge.

For the three months ended June 30, 2024 and 2023, the decrease of $3.9 million and increase of $9.8 million, respectively, in the fair value of the interest rate cap were recognized in Other comprehensive income (loss). For the six months ended June 30, 2024 and 2023, the decrease of $0.1 million and increase of $1.1 million, respectively, in the fair value of the interest rate cap were recognized in Other comprehensive income (loss). As of June 30, 2024, the Company expects $22.4 million of unrealized gains from the interest rate cap to be reclassified into earnings over the next twelve months. See Note 16, Income Taxes, for further information on the tax effects on other comprehensive income related to the interest rate cap.

See Note 13, Fair Value Measurements, for further information on the fair value of derivatives.