
Amounts Recorded at Fair Value	Financial Statement Classification	Fair Value Hierarchy	Fair Value September 30, 2026		Fair Value December 31, 2025
Non-COLI assets held in Deferred Supplemental Compensation Plan(a)	Other assets	Level 1	$	746	$	704
Interest rate swaps - current	Accrued expenses and other current liabilities	Level 2	$	—	$	553
Interest rate swaps - long-term	Other assets	Level 2	$	4,458	$	1,235
Earn-out obligations	Earn-out obligations	Level 3	$	27,367	$	—
(a) Non-Company Owned Life Insurance ("COLI") assets held in the Company's deferred supplemental compensation plan consist of equity funds with fair value based on observable inputs such as quoted prices for identical assets in active markets and changes in fair value are recorded as selling, general and administrative expenses.

The carrying amounts of cash and cash equivalents, receivables, accounts payable and amounts included in prepaid expenses and other current assets and accrued expenses and other current liabilities that meet the definition of a financial instrument approximate fair value due to their relatively short maturity. The carrying value of the note receivable approximates fair value as the stated interest income effectively offsets the time value of money, resulting in minimal discounting impact. The carrying value of the Company's outstanding debt obligations approximates its fair value. The fair value of the note receivable and long-term debt are calculated using Level 2 inputs based on interest rates available for debt with terms and maturities similar to the Company's existing debt arrangements.

In connection with the PAG Acquisition, the Company may be required to pay contingent earn-out consideration of up to $125.0 million, payable in cash, equity, or a combination thereof at the Company's sole discretion, should PAG meet certain profitability targets during fiscal year 2026. The fair value of the earn-out obligation to the PAG seller was estimated using a Monte Carlo simulation approach in an option pricing framework. The approach used to fair value the earn-out obligation is based on significant inputs not observed in the market and thus represents a Level 3 measurement. Changes in these assumptions could result in a material change to the amount of the fair value measurement. The significant unobservable inputs used in the valuation include a market price of risk of 3.8% and a volatility of 36%. The market price of risk is based upon the product of the implied asset beta and the applicable equity risk premium and the volatility is based on historical volatility of a peer group. Any change in the fair value of the earn-out obligation from events after the acquisition date will be included within earn-out fair value adjustments in the Company's consolidated statements of operations during the period when the event occurs. The decrease in the fair value of the earn-out obligation to the PAG seller from the acquisition date was primarily attributable to a reduction in the likelihood of achieving higher earn-out payout scenarios as the remaining projection period shortened.

In addition to the earn-out obligation to the PAG seller, the Company assumed two earn-out obligations from the PAG Acquisition, payable to the original sellers of certain PAG subsidiaries, which had a fair value of $2.4 million as of both the acquisition date and September 30, 2026. The assumed earn-out obligations are conditional upon the achieved Adjusted EBITDA of certain PAG subsidiaries over periods not extending beyond December 31, 2026 and are classified within earn-out obligations on the Company's consolidated balance sheets.

In connection with the sale of the Fleet segment in April 2025, the total consideration to be received by the Company included a potential earn-out payment of up to $65.0 million, subject to the achievement of certain milestones by the divested business during 2025. The preliminary results provided to the Company show the earn-out performance threshold was not achieved relative to the required milestones under the sale agreement. However, the Company is continuing to review the preliminary results.