| Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following tables present our assets (liabilities) that are required to be measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value at Reporting Date Using | | Assets: | March 31, 2025 | | Level 1 | | Level 2 | | Level 3 | | | | | | | | | | | | | | | | | | Money market funds | 341,355 | | | 341,355 | | | — | | | — | | | Time deposits | 81,965 | | | — | | | 81,965 | | | — | | | Investment in securities | 401 | | | 401 | | | — | | | — | | | Total assets | $ | 423,721 | | | $ | 341,756 | | | $ | 81,965 | | | $ | — | | | | | | | | | | | Liabilities: | | | | | | | | Derivatives(1) | | | | | | | | | Interest rate swap contracts | $ | (2,734) | | | $ | — | | | $ | (2,734) | | | $ | — | | | Total liabilities | $ | (2,734) | | | $ | — | | | $ | (2,734) | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value at Reporting Date Using | | Assets: | December 31, 2024 | | Level 1 | | Level 2 | | Level 3 | | | | | | | | | | | | | | | | | | Money market funds | $ | 425,407 | | | $ | 425,407 | | | $ | — | | | $ | — | | | Time deposits | 78,595 | | | — | | | 78,595 | | | — | | | Investment in securities | 555 | | | 555 | | | — | | | — | | | Total assets | $ | 504,557 | | | $ | 425,962 | | | $ | 78,595 | | | $ | — | | | | | | | | | | | Liabilities: | | | | | | | | Derivatives(1) | | | | | | | | | Interest rate swap contracts | $ | (2,266) | | | $ | — | | | $ | (2,266) | | | $ | — | | | Total liabilities | $ | (2,266) | | | $ | — | | | $ | (2,266) | | | $ | — | |
______________________ (1) See Note 7. Derivatives for further detail.
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| Schedule of Fair Value and Carrying Value of Debt |
The following table presents the fair value and carrying value of our senior notes and borrowings under our senior secured credit facilities as of March 31, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of March 31, 2025 | | As of December 31, 2024 | | Financial Instrument | | Fair Value | | Carrying Value(1) | | Fair Value | | Carrying Value(1) | | 2021 Term Loan B-1 | | $ | 306,200 | | | $ | 313,473 | | | $ | 303,643 | | | $ | 314,453 | | | 2021 Term Loan B-2 | | 353,918 | | | 364,725 | | | 356,665 | | | 364,600 | | | 2022 Term Loan B-1 | | 366,144 | | | 379,787 | | | 372,593 | | | 379,617 | | | 2022 Term Loan B-2 | | 400,234 | | | 401,603 | | | 407,228 | | | 400,748 | | | 2024 Term Loan B-1 | | 689,085 | | | 688,326 | | | 712,250 | | | 689,655 | | | 2024 Term Loan B-2 | | 73,831 | | | 74,718 | | | 76,313 | | | 74,902 | | | Senior Secured Term Loan Due 2028 | | 899,893 | | | 882,957 | | | 906,020 | | | 853,788 | | 9.25% senior secured notes due 2025 | | 10,433 | | | 10,416 | | | 10,510 | | | 10,416 | | 7.375% senior secured notes due 2025 | | 23,500 | | | 23,393 | | | 23,081 | | | 23,393 | | 4.00% senior exchangeable notes due 2025 | | 182,907 | | | 183,220 | | | 181,322 | | | 183,220 | | 7.32% senior exchangeable notes due 2026 | | 159,739 | | | 150,000 | | | 172,500 | | | 150,000 | | 8.625% senior secured notes due 2027 | | 650,212 | | | 656,783 | | | 649,105 | | | 656,783 | | 11.25% senior secured notes due 2027 | | 48,753 | | | 45,293 | | | 49,400 | | | 45,253 | | 10.75% senior secured notes due 2029 | | 832,334 | | | 776,243 | | | 853,220 | | | 774,332 | |
______________________ (1)Excludes net unamortized debt issuance costs.
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