v3.22.0.1
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Summary of Balances in Prepaid Expenses and Other
Prepaid expenses and other consists of the following at December 31, 2021 and 2020:
(thousands) 2021 2020
Vendor rebates receivable $ 8,702  $ 6,527 
Prepaid expenses 20,380  16,510 
Vendor and other deposits 35,396  14,945 
Total $ 64,478  $ 37,982 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques The three levels are as follows:
•Level 1 inputs, which are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.
•Level 2 inputs, which are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability.
•Level 3 inputs, which are unobservable inputs for the asset or liability. These unobservable inputs reflect the entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances (which might include the reporting entity’s own data).
2021 2020
(in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Cash equivalents(1)
$ 118.4  $ —  $ —  $ —  $ —  $ — 
7.50% senior notes due 2027(2)
—  319.5  —  —  329.0  — 
4.75% senior notes due 2029(2)
—  350.6  —  —  —  — 
1.75% convertible notes due 2028(2)
—  269.8  —  —  —  — 
1.00% convertible notes due 2023(2)
—  194.1  —  —  180.0  — 
Term loan due 2026(3)
—  144.4  —  —  92.5  — 
Revolver due 2026(3)
—  135.0  —  —  275.0  — 
Interest rate swaps(4)
—  1.0  —  —  6.6  — 
Contingent consideration(5)
—  —  12.3  —  —  6.9 
(1) The carrying amounts of cash equivalents, representing government and other money market funds traded in an active market with relatively short maturities, are reported on the consolidated balance sheet as of December 31, 2021 as a component of "Cash and cash equivalents".
(2) The amounts of these notes listed above are the fair values for disclosure purposes only, and they are recorded in the Company's consolidated balance sheets as of December 31, 2021 and 2020 using the interest rate method.
(3) The carrying amounts of our term loan and revolver approximate fair value as of December 31, 2021 and 2020 based upon their terms and conditions in comparison to the terms and conditions of debt instruments with similar terms and conditions available at those dates.
(4) The interest rate swaps are discussed further in Note 9.
(5) The estimated fair value of the Company's contingent consideration is discussed further in Note 4.