On April 7, 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. As of December 31, 2022, the fair value of the interest rate cap was $45.9 million, which was included in Other non-current assets on the Consolidated Balance Sheets. At inception, the Company formally designated the interest rate cap as a cash flow hedge. As of December 31, 2022, the interest rate cap continued to be an effective hedge. The Company elected to exclude the change in the time value of the interest rate cap from the assessment of hedge effectiveness and will amortize the

initial value of the premium over the life of the instrument. The premium amortization is recognized in Interest expense, net on the Consolidated Statements of Income.

For the year ended December 31, 2022, the $20.4 million increase in the fair value of the interest rate cap and $4.6 million of premium amortization were recognized in Other comprehensive income (loss). During the year ended December 31, 2022, $2.2 million related to payments received was reclassified out of Other comprehensive income (loss) into earnings. As of December 31, 2022, the Company expects $20.6 million of unrealized gains from the interest rate cap to be reclassified into earnings over the next twelve months.