v3.25.2
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurement of the Long-term Debt
The following table summarizes the fair value measurement of the Company’s long-term debt (in millions):
June 30, 2025
Face ValueFair ValueFair Value Hierarchy
Term Loan$1,819.3 $1,787.5 Level 2
Senior Notes600.0 544.5 Level 2
Total debt$2,419.3 $2,332.0 

December 31, 2024
Face ValueFair ValueFair Value Hierarchy
Term Loan$1,828.8 $1,831.1 Level 2
Senior Notes600.0 541.5 Level 2
Total debt$2,428.8 $2,372.6 
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table sets forth the assets and liabilities measured at fair value on a recurring basis in the Company’s consolidated balance sheets at June 30, 2025 and December 31, 2024 (in millions):
Fair Value at
Fair Value HierarchyJune 30,
2025		December 31, 2024
Cash equivalents
Money market fundsLevel 1$277.7 $331.4 
Term depositsLevel 144.2 93.1 
Commercial papersLevel 212.7 10.0 
Short-term investments
Term depositsLevel 11.8 — 
Commercial papersLevel 2$89.4 $— 
Prepaid expenses and other current assets
Derivative instruments - interest rate swapsLevel 2$14.6 $19.4 
Derivative instruments - foreign currency derivative contractsLevel 215.0 1.1 
Other non-current assets
Derivative instruments - interest rate swapsLevel 2$— $9.8 
Accrued expenses and other current liabilities
Derivative instruments - interest rate swapsLevel 2$0.1 $— 
Derivative instruments - foreign currency derivative contractsLevel 2$— $3.3 
Other long-term liabilities, including employee related benefits
Derivative instruments - interest rate swapsLevel 2$2.7 $— 
Schedule of Fair Value of Contingent Consideration Payable
The change in fair value of contingent consideration payable was valued using significant unobservable inputs (Level 3), was included in the general and administrative expenses in the Company’s consolidated statements of comprehensive income and consisted of the following (in millions):

Balance as of January 1, 2025
$379.6 
Fair value adjustments based upon post-acquisition performance and passage of time(26.1)
Balance as of June 30, 2025 (1)
$353.5 
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(1)    Amount comprised of $310.0 million and $43.5 million for SuperPlay and InnPlay acquisitions, respectively.