Ryan Specialty Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Summary of company's assets and liabilities measured at fair value on a recurring basis

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis by fair value hierarchy input level:


	As of December 31, 2022						As of December 31, 2021
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Interest rate cap	$	—	$	45,860	$	—	$	—	$	—	$	—
Liabilities:
Debt (1)		1,955,879		—		—		1,631,412		—		—
Contingent purchase consideration		—		—		29,251		—		—		42,053
Total assets and liabilities measured at fair value	$	1,955,879	$	45,860	$	29,251	$	1,631,412	$	—	$	42,053

As of December 31, 2022, this represents the Term Loan and Senior Secured Notes. As of December 31, 2021, only the Term Loan was outstanding. See Note 10, Debt.

Fair Value, Inputs, Level 3 [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Summary of company's assets and liabilities measured at fair value on a recurring basis

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


	Year Ended December 31,
	2022			2021
	Contingent Purchase Consideration			Make-Whole Provision on RPU			Contingent Purchase Consideration			Total
Balance at beginning of period	$	42,053		$	30,423		$	22,096		$	52,519
Newly established liability due to acquisition		—			—			22,011			22,011
Total losses included in earnings		2,433			36,914			3,639			40,553
Settlements		(15,235	)		(67,337	)		(5,693	)		(73,030	)
Balance at end of period	$	29,251		$	—		$	42,053		$	42,053