Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Summary of company's liabilities measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021.

 

 

June 30, 2022

 

 

December 31, 2021

 

 

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate cap

 

$

—

 

 

$

24,637

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt (1)

 

$

1,928,124

 

 

$

—

 

 

$

—

 

 

$

1,631,412

 

 

$

—

 

 

$

—

 

Contingent purchase consideration

 

 

—

 

 

 

—

 

 

 

26,357

 

 

 

—

 

 

 

—

 

 

 

42,053

 

Total assets and liabilities measured at fair value

 

$

1,928,124

 

 

$

24,637

 

 

$

26,357

 

 

$

1,631,412

 

 

$

—

 

 

$

42,053

 

(1) As of June 30, 2022, this represents the Term Loan and Senior Secured Notes. As of December 31, 2021, only the Term Loan was outstanding. See Note 9, Debt.

There were no assets or liabilities that were transferred between fair value hierarchy levels during the six months ended June 30, 2022 or the year ended December 31, 2021.

The following is a reconciliation of the beginning and ending balances for the Level 3 liabilities measured at fair value:

 

 

June 30, 2022

 

 

June 30, 2021

 

 

 

Contingent Purchase Consideration

 

 

Make-Whole Provision on Redeemable Preferred Units

 

 

Contingent Purchase Consideration

 

 

Total

 

Balance at beginning of period

 

$

42,053

 

 

$

30,423

 

 

$

22,096

 

 

$

52,519

 

Total (gains) losses included in earnings

 

 

(462

)

 

 

20,612

 

 

 

2,712

 

 

 

23,324

 

Settlements

 

 

(15,234

)

 

 

—

 

 

 

(2,673

)

 

 

(2,673

)

Balance at end of period

 

$

26,357

 

 

$

51,035

 

 

$

22,135

 

 

$

73,170