0001104659-23-032320 | POS AM | XBRL Viewer

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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2022
Document and Entity Information
Document Type	POS AM
Entity Registrant Name	Getty Images Holdings, Inc.
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001898496
Amendment Flag	true
Amendment Description	Amendment No. 1

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 97,912	$ 186,301
Restricted cash	4,482	5,228
Accounts receivable - net of allowance of $6,460 and $5,946	129,603	143,362
Prepaid expenses	15,728	12,778
Taxes receivable	11,297	11,992
Other current assets	10,497	15,368
Total current assets	269,519	375,029
PROPERTY AND EQUIPMENT - NET	172,083	170,896
RIGHT OF USE ASSETS	47,231
GOODWILL	1,499,578	1,503,245
IDENTIFIABLE INTANGIBLE ASSETS - NET	419,548	478,852
DEFERRED INCOME TAXES - NET	8,272	8,893
OTHER LONG-TERM ASSETS	51,952	41,092
TOTAL	2,468,183	2,578,007
CURRENT LIABILITIES:
Accounts payable	93,766	94,993
Accrued expenses	49,327	66,569
Income taxes payable	8,031	10,502
Short-term debt - net		6,481
Deferred revenue	171,371	167,550
Total current liabilities	322,495	346,095
LONG-TERM DEBT - NET	1,428,847	1,750,990
LEASE LIABILITIES	46,218
DEFERRED INCOME TAXES - NET	37,075	24,595
UNCERTAIN TAX POSITIONS	37,333	42,701
OTHER LONG-TERM LIABILITIES	3,167	26,961
Total liabilities	1,875,135	2,191,342
Commitments and contingencies
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred Stock, $0.0001 par value; 1.0 million shares authorized; no shares issued and outstanding as of December 31, 2022 and December 31, 2021.
Additional paid-in capital	1,936,324	935,082
Accumulated deficit	(1,282,354)	(1,203,440)
Accumulated other comprehensive loss	(108,928)	(78,403)
Total Getty Images Holdings, Inc. stockholders' equity (deficit)	545,081	(346,741)
Noncontrolling interest	47,967	48,056
Total stockholders' equity (deficit)	593,048	(298,685)
TOTAL	2,468,183	2,578,007
Redeemable Preferred Stock
REDEEMABLE PREFERRED STOCK:
Redeemable Preferred Stock, $0.01 par value, 900,000 shares authorized, 677,484 shares outstanding at December 31, 2021 (aggregate liquidation preference of $685,350). No shares were issued or outstanding at December 31, 2022.		685,350
Class A common stock
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock	39	20
Class B common stock
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable - net of allowance	$ 6,460	$ 5,946
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000.0	1,000,000.0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Redeemable Preferred Stock
Temporary equity, par value	$ 0.01	$ 0.01
Temporary equity, shares authorized	900,000	900,000
Temporary equity, shares issued	0
Temporary equity, shares outstanding	0	677,484
Temporary equity, liquidation preference		$ 685,350
Class A common stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	2,000,000,000.0	2,000,000,000.0
Common stock, shares, issued	394,800,000	196,100,000
Common stock, shares, outstanding	394,800,000	196,100,000
Class B common stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	5,100,000	5,100,000
Common stock, shares, issued	0	0
Common stock, shares, outstanding	0	0

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUE	$ 926,244	$ 918,688	$ 815,401
OPERATING EXPENSE:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	254,990	248,152	226,066
Selling, general and administrative expenses	376,683	367,704	324,423
Depreciation	49,574	51,099	52,358
Amortization	43,645	49,361	47,002
Restructuring costs		(475)	9,135
Other operating (income) expense - net	(681)	861	161
Operating expense	724,211	716,702	659,145
INCOME FROM OPERATIONS	202,033	201,986	156,256
OTHER EXPENSE, NET:
Interest expense	(117,229)	(122,160)	(124,926)
Gain (loss) on fair value adjustment for swaps and foreign currency exchange contract - net	23,508	19,282	(14,255)
Unrealized foreign exchange gains (losses) - net	24,643	36,406	(45,073)
Loss on extinguishment of debt	(2,693)
Loss on fair value adjustment for warrant liabilities - net	(160,728)
Other non-operating (expense) income - net	(3,051)	612	139
Total other expense - net	(235,550)	(65,860)	(184,115)
(LOSS) INCOME BEFORE INCOME TAXES	(33,517)	136,126	(27,859)
INCOME TAX EXPENSE	(44,126)	(18,729)	(9,516)
NET (LOSS) INCOME	(77,643)	117,397	(37,375)
Net (loss) income attributable to noncontrolling interest	(89)	329	(182)
Premium on early redemption of Redeemable Preferred Stock	26,678
Redeemable Preferred Stock dividend	43,218	71,393	64,120
NET (LOSS) INCOME ATTRIBUTABLE TO GETTY IMAGES HOLDINGS, INC.	$ (147,450)	$ 45,675	$ (101,313)
Net (loss) income per share attributable to Class A Getty Images Holdings, Inc. common
Basic	$ (0.53)	$ 0.23	$ (0.52)
Diluted	$ (0.53)	$ 0.23	$ (0.52)
Weighted-average Class A common shares outstanding:
Basic	276,942,660	196,084,650	196,082,503
Diluted	276,942,660	201,507,355	196,082,503
Class A Common Stock
Weighted-average Class A common shares outstanding:
Basic	276,942,660	196,084,650	196,082,503
Diluted	276,942,660	201,507,355	196,082,503

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
NET (LOSS) INCOME	$ (77,643)	$ 117,397	$ (37,375)
OTHER COMPREHENSIVE LOSS:
Net foreign currency translation adjustment losses	(30,525)	(31,603)	32,895
COMPREHENSIVE (LOSS) INCOME	(108,168)	85,794	(4,480)
Less: Comprehensive (loss) gain attributable to noncontrolling interest	(89)	328	(179)
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO GETTY IMAGES HOLDINGS, INC.	$ (108,079)	$ 85,466	$ (4,301)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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CONSOLIDATED STATEMENTS OF REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Redeemable Preferred Stock After effect of recapitalization Preferred Stock	Redeemable Preferred Stock Preferred Stock	Redeemable Preferred Stock	Class A Common Stock Retroactive application of recapitalization Common Stock	Class A Common Stock After effect of recapitalization Common Stock	Class A Common Stock Private Placement Warrants Common Stock	Class A Common Stock Public Warrants Common Stock	Class A Common Stock Common Stock	Class B common stock Common Stock	Retroactive application of recapitalization Additional Paid-In Capital	After effect of recapitalization Getty Images Holdings, Inc.	After effect of recapitalization Additional Paid-In Capital	After effect of recapitalization Accumulated Deficit	After effect of recapitalization Accumulated Other Comprehensive Loss	After effect of recapitalization Noncontrolling Interest	After effect of recapitalization	Private Placement Warrants Getty Images Holdings, Inc.	Private Placement Warrants Additional Paid-In Capital	Private Placement Warrants	Public Warrants Getty Images Holdings, Inc.	Public Warrants Additional Paid-In Capital	Public Warrants	Getty Images Holdings, Inc.	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interest	Total
Temporary Equity, Beginning Balance at Dec. 31, 2019	$ 549,839	$ 549,837
Temporary Equity, Beginning Balance (in shares) at Dec. 31, 2019	543,526	543,526
Stockholders Equity, Beginning Balance at Dec. 31, 2019				$ (1,513)	$ 20			$ 1,533		$ 1,513	$ (306,877)	$ 1,056,113	$ (1,283,315)	$ (79,695)	$ 47,907	$ (258,970)							$ (306,877)	$ 1,054,600	$ (1,283,315)	$ (79,695)	$ 47,907	$ (258,970)
Stockholders Equity, Beginning Balance (in shares) at Dec. 31, 2019				42,778,659	196,080,914			153,302,255
Net (loss) income																							(37,193)		(37,193)		(182)	(37,375)
Other comprehensive income (loss)																							32,895			32,895	3	32,898
Issuance of common stock in connection with employee stock option exercise (in shares)								1,598
Equity-based compensation activity																							8,007	8,007				8,007
Redeemable Preferred Stock dividend		$ 64,120																										64,100
Redeemable Preferred Stock dividends																							(64,120)	(64,120)				(64,120)
Redeemable Preferred Stock dividend (shares)		63,384
Temporary Equity, ending Balance at Dec. 31, 2020		$ 613,959
Temporary Equity, ending Balance (in shares) at Dec. 31, 2020		606,910
Stockholders Equity, ending Balance at Dec. 31, 2020								$ 20															(367,288)	1,000,000	(1,320,508)	(46,800)	47,728	(319,560)
Stockholders Equity, ending Balance (in shares) at Dec. 31, 2020								196,082,512
Net (loss) income																							117,068		117,068		329	117,397
Other comprehensive income (loss)																							(31,603)			(31,603)	(1)	(31,604)
Issuance of common stock in connection with employee stock option exercise																							35	35				35
Issuance of common stock in connection with employee stock option exercise (in shares)								12,790
Equity-based compensation activity																							6,440	6,440				6,440
Redeemable Preferred Stock dividend		$ 71,393																										71,400
Redeemable Preferred Stock dividends																							(71,393)	(71,393)				(71,393)
Redeemable Preferred Stock dividend (shares)		70,574
Temporary Equity, ending Balance at Dec. 31, 2021		$ 685,350	$ 685,350
Temporary Equity, ending Balance (in shares) at Dec. 31, 2021		677,484	677,484
Stockholders Equity, ending Balance at Dec. 31, 2021								$ 20															(346,741)	935,082	(1,203,440)	(78,403)	48,056	(298,685)
Stockholders Equity, ending Balance (in shares) at Dec. 31, 2021								196,095,302
Net (loss) income																							(77,554)		(77,554)		(89)	(77,643)
Other comprehensive income (loss)																							(30,525)			(30,525)		(30,525)
Cumulative Effect of Accounting Change - Adoption of ASU 2019-12 (See Note 2)																							(1,360)		(1,360)			(1,360)
Issuance of common stock in connection with employee stock option exercise																							194	194				$ 194
Issuance of common stock in connection with employee stock option exercise (in shares)								1,581,275																				2,959,000
Equity-based compensation activity																							9,547	9,547				$ 9,547
Redeemable Preferred Stock dividend		$ 43,218																										43,200
Redeemable Preferred Stock dividends																							(43,218)	(43,218)				(43,218)
Redeemable Preferred Stock dividend (shares)		38,109
Premium on early redemption of Redeemable Preferred Stock		$ 26,678																					(26,678)	(26,678)				(26,678)
Redemption of Redeemable Preferred Stock for cash and share consideration		$ (755,246)						$ 2															140,250	140,248				140,250
Issuance of Class A and Class B common stock upon Business Combination and PIPE Investment, net								$ 10	$ 1														694,460	694,449				694,460
Issuance of Class A and Class B common stock upon Business Combination and PIPE Investment, net (in shares)								107,068,311	5,140,000
Issuance of common stock upon exercise of Warrants						$ 1											$ 232,853	$ 232,852	$ 232,853	$ 121	$ 121	$ 121
Issuance of common stock upon exercise of Warrants (in shares)						11,555,996	10,328
Issuance of common stock upon vesting of Earn-out shares								$ 6																(6)
Conversion of Class B common stock to Class A common Stock									$ (1)														(1)					(1)
Conversion of Class B common stock to Class A common Stock (in shares)								5,140,000	(5,140,000)
Common shares withheld for settlement of taxes in connection with equity-based compensation																							(6,267)	(6,267)				(6,267)
Common shares withheld for settlement of taxes in connection with equity-based compensation (in shares)								(679,914)
Issuance of common stock upon vesting of Earn-out shares (in shares)								58,999,956
Temporary Equity, ending Balance (in shares) at Dec. 31, 2022			0
Stockholders Equity, ending Balance at Dec. 31, 2022								$ 39															$ 545,081	$ 1,936,324	$ (1,282,354)	$ (108,928)	$ 47,967	$ 593,048
Stockholders Equity, ending Balance (in shares) at Dec. 31, 2022								394,771,254
Redemption of Redeemable Preferred Stock for cash and share consideration (in shares)		(715,593)						15,000,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (77,643)	$ 117,397	$ (37,375)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	49,574	51,099	52,358
Amortization	43,645	49,361	47,002
Unrealized exchange gains on foreign denominated debt	(26,636)	(39,173)	45,553
Equity-based compensation	9,292	6,440	8,002
Non-cash fair value adjustment for warrant liabilties - net	160,728
Deferred income taxes - net	15,801	5,793	(11,449)
Uncertain tax positions	(5,368)	(20,507)	1,832
Restructuring		(475)	9,135
Non-cash fair value adjustment for swaps and foreign currency exchange contracts - net	(22,005)	(20,196)	15,943
Amortization of debt issuance costs	6,096	6,741	5,601
Non cash operating lease costs	9,760
Impairment of right of use assets	2,563
Loss on extinguishment of debt	2,693
Transaction cost allocated to common stock warrants	4,262
Non-cash fair value adjustment of contingent consideration	(4,039)	1,373
Other	3,428	(250)	1,802
Changes in current assets and liabilities:
Accounts receivable	6,016	(16,075)	9,061
Accounts payable	6,001	(555)	7,400
Accrued expenses	(14,231)	18,712	(13,443)
Lease liabilities, non-current	(11,408)
Income taxes receivable/payable	(188)	320	2,523
Interest Payable	261
Deferred revenue	9,140	24,783	4,483
Other	(4,625)	4,102	35
Net cash provided by operating activities	163,117	188,890	148,463
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment	(59,291)	(49,317)	(44,862)
Purchase of a Minority Investment	(2,000)		(8,500)
Acquisition of a business, net of cash acquired		(89,206)
Other investing activities		1,597	(122)
Net cash used in investing activities	(61,291)	(136,926)	(53,484)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash contributions from business combination	864,164
Cash paid for equity issuance costs	(106,917)	(1,851)
Payment of Redeemable Preferred Stock	(614,996)
Repayment of debt	(310,400)	(17,449)	(52,007)
Cash paid for settlement of employee taxes related to option exercises	(6,267)
Proceeds from option and warrant exercises	313	35	5
Redemption of Warrants for cash	(244)
Payment of contingent consideration	(10,000)
Net cash used in financing activities	(184,347)	(19,265)	(52,002)
EFFECTS OF EXCHANGE RATE FLUCTUATIONS	(6,614)	(2,479)	104
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(89,135)	30,220	43,081
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period	191,529	161,309	118,228
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period	102,394	191,529	161,309
SUPPLEMENTAL DISCLOSURES:
Interest paid	110,909	115,258	119,506
Income taxes paid, including foreign taxes withheld	$ 30,800	$ 32,300	$ 12,900

DESCRIPTION OF THE BUSINESS

12 Months Ended

Dec. 31, 2022

DESCRIPTION OF THE BUSINESS

DESCRIPTION OF THE BUSINESS

1.	DESCRIPTION OF THE BUSINESS

Getty Images Holdings, Inc. (the “Company” or “Getty Images”) is a preeminent global visual content creator and marketplace. Through Getty Images, iStock, and Unsplash, the Company offers a full range of content, with over 520 million assets available through its industry-leading sites. The Company services businesses in almost every country in the world with websites in 23 languages bringing content to media outlets, advertising agencies and corporations and, increasingly, serving individual creators and prosumers.

On July 22, 2022 (the “Closing Date”), the Company consummated the transactions in the Business Combination Agreement, dated December 9, 2021 (the “Business Combination Agreement” and the consummation of such transactions, the “Closing”), by and among CC Neuberger Principal Holdings II, a Cayman Islands exempted company (“CCNB”), the Company (at such time, Vector Holding, LLC, a Delaware limited liability company and wholly-owned subsidiary of CCNB), Vector Domestication Merger Sub, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (“Domestication Merger Sub”), Vector Merger Sub 1, LLC, a Delaware limited liability company and a wholly-owned subsidiary of CCNB (“G Merger Sub 1”), Vector Merger Sub 2, LLC, a Delaware limited liability company and a wholly-owned subsidiary of CCNB (“G Merger Sub 2”), Griffey Global Holdings, Inc., a Delaware corporation (“Legacy Getty”), and Griffey Investors, L.P., a Delaware limited partnership (the “Partnership”). On the day prior to the Closing Date, the Company statutorily converted from a Delaware limited liability company to a Delaware corporation (the “Statutory Conversion”). On the Closing Date, CCNB merged with and into Domestication Merger Sub, with Domestication Merger Sub surviving the merger as a wholly-owned direct subsidiary of the Company (the “Domestication Merger”). Following the Domestication Merger on the Closing Date, G Merger Sub 1 merged with and into Legacy Getty, with Legacy Getty surviving the merger as an indirect wholly-owned subsidiary of the Company (the “First Getty Merger”). Immediately after the First Getty Merger, Legacy Getty merged with and into G Merger Sub 2 with G Merger Sub 2 surviving the merger as an indirect wholly-owned subsidiary of the Company (the “Second Getty Merger” and together with the First Getty Merger, the “Getty Mergers” and, together with the Statutory Conversion and the Domestication Merger, the “Business Combination”). See “Note 3 — Business Combination” for further details.

Legacy Getty was incorporated in Delaware on September 25, 2012, and in October of the same year, indirectly acquired Getty Images, Inc.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Principles — The Company’s accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Basis of Presentation — The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, CCNB was treated as the “acquired” company and Legacy Getty is treated as the acquirer for financial reporting purposes. For accounting purposes, the Business Combination was treated as the equivalent of Legacy Getty issuing stock for the net assets of CCNB, accompanied by a recapitalization. The net assets of CCNB are stated at historical cost, with no goodwill or other intangible assets recorded.

Legacy Getty was determined to be the accounting acquirer based on the following predominant factors:

●Legacy Getty stockholders have the greatest voting interest in the Company with approximately 72% of the voting interest;

●Legacy Getty stockholders have the ability to nominate a majority of the initial members of the Company’s Board of Directors;

●Legacy Getty senior management is the senior management of the Company; and

●Legacy Getty was the larger entity based on historical operating activity and had the larger employee base.

The consolidated assets, liabilities and results of operations prior to the Business Combination are those of Legacy Getty. The shares and corresponding capital amounts and earnings per share, prior to the Business Combination, have been retroactively restated based on shares reflecting the exchange ratio of 1.27905 (the “Exchange Ratio”) established in the Business Combination.

Certain immaterial changes in presentation have been made to conform the prior period presentation to current period reporting.

Estimates and Assumptions — The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and revenues and expenses reported during the period. Some of the estimates and assumptions that require the most difficult judgments are: a) the appropriateness of the valuation and useful lives of intangibles and other long-lived assets; b) the appropriateness of the amount of accrued income taxes, including the potential outcome of future tax consequences of events that have been recognized in the consolidated financial statements as well as the deferred tax asset valuation allowances; c) the sufficiency of the allowance for doubtful accounts; d) the assumptions used to value equity-based compensation arrangements; e) the assumptions used to allocate transaction price to multiple performance obligations for uncapped subscription arrangements; f) the assumptions used to estimate unused capped subscription-based and credit-based products; g) the assumptions used to estimate the contingent consideration; and h) the assumptions used to estimate the fair value of Public, Private Placement and Forward Purchase Warrants (each as defined below). These judgments are inherently uncertain which directly impacts their valuation and accounting. Actual results and outcomes may differ from management’s estimates and assumptions.

Principles of Consolidation — The consolidated financial statements and notes thereto include the accounts of Getty Images Holdings, Inc and its subsidiaries. Equity investments in which the Company exercises significant influence, but does not control and is not the primary beneficiary of, are accounted for using the equity method. Significant accounts and transactions between consolidated entities have been eliminated. Intercompany transactions and balances have been eliminated in consolidation.

Noncontrolling Interest — The Company’s noncontrolling interest represents the minority stockholder’s ownership interest related to the Company’s subsidiary, Getty Images SEA Holdings Co., Limited (“Getty SEA”). The Company reports its non-controlling interest in subsidiary as a separate component of stockholders’ equity (deficit) in the Consolidated Balance Sheets and reports both net income (loss) attributable to the non-controlling interest and net loss attributable to the Company’s common stockholders on the face of the Consolidated Statements of Operations. The Company’s equity interest in Getty SEA is 50% and the non-controlling stockholder’s interest is 50%. Net Income or Loss from this subsidiary is allocated based upon these ownership interests. This is reflected in the Consolidated Statements of Redeemable Preferred Stock and Stockholders’ Equity (Deficit) as “Noncontrolling interest”.

Net (Loss) Income Per Share Attributable to Common Stockholders — Basic net (loss) income per share attributable to common stockholders is calculated by dividing the net (loss) income attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period, without consideration of potentially dilutive securities. Net (loss) income available to common stockholders represents net (loss) income attributable to common stockholders adjusted by (i) the Redeemable Preferred Stock dividend (ii) premium on early redemption of the Redeemable Preferred Stock and (iii) the allocation of income or losses to the noncontrolling interest.

Diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders since the effect of potentially dilutive securities is anti-dilutive given the net loss of the Company. Diluted net income per share is computed by dividing the net income attributable to common stockholders by the weighted average common shares outstanding and all potential common shares, if they are dilutive. The potentially dilutive effect of options or warrants are computed using the treasury stock method. Securities that potentially have an anti-dilutive effect are excluded from the diluted earnings per share calculation.

Foreign Currencies — Assets and liabilities for subsidiaries with functional currencies other than the U.S. dollar are recorded in foreign currencies and translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to “Other comprehensive (loss) income” (“OCI”), as a separate component of stockholders’ equity (deficit). Transaction gains and losses arising from transactions denominated in a currency other than the functional currency of the entity involved are included in “Foreign exchange gains (losses) — net” in the Consolidated Statements of Operations. For the years ended December 31, 2022, 2021, and 2020 the Company recognized net foreign currency transaction gains of $24.6 million, $36.4 million and net loss of $45.1 million, respectively.

Derivative Instruments — The Company uses derivative instruments to manage exposures to foreign currency and interest rate risks. The objectives for holding derivatives include reducing or eliminating the economic impact of these exposures. Derivative instruments are recorded as either assets or liabilities and are measured at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and whether the instrument is designated as a hedge for accounting purposes.

For a derivative instrument designated as a cash flow hedge, the effective portion of the derivative’s gain or loss is initially reported as a component of OCI and is subsequently recognized in earnings when the hedged exposure affects earnings. The ineffective portion of the gain or loss is recognized in earnings. For derivative instruments designated as either fair value or cash flow hedges, changes in the time value are excluded from the assessment of hedge effectiveness and are recognized in earnings. Gains and losses from changes in fair values of derivatives that are not designated as hedges for accounting purposes are recognized in “Gain (loss) on fair value adjustment for swaps and foreign currency exchange contracts — net” in the Consolidated Statements of Operations. As of December 31, 2022, 2021, and 2020 the Company did not have any derivatives designated as hedging instruments as defined by the derivative instruments and hedging activities accounting guidance. See “Note 6 — Derivative Instruments” for further information.

Cash, Cash Equivalents and Restricted Cash — The following represents the Company’s cash, cash equivalents and restricted cash as of December 31, 2022 and 2021 (in thousands):


	As of December 31,
	2022		2021
Cash and cash equivalents	$	97,912	$	186,301
Restricted cash		4,482		5,228
Total cash, cash equivalents and restricted cash	$	102,394	$	191,529

Cash equivalents are short-term, highly liquid investments that are both readily convertible to cash and have maturities at the date of acquisition of three months or less. Cash equivalents are generally composed of investment-grade debt instruments subject to lower levels of credit risk, including certificates of deposit and money market funds. The Company’s current cash and cash equivalents consist primarily of cash on hand, bank deposits, and money market accounts.

Restricted cash consists primarily of cash held as collateral related to corporate credit cards and real estate lease obligations.

Fair Value Measurements — The Company records its financial assets and liabilities at fair value. Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should include consideration of nonperformance risk including the Company’s own credit risk.

The three-tier fair value hierarchy prioritizes the inputs used in the valuation methodologies. Each fair value measurement is reported in one of the three levels, which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are:

Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Valuations based on unobservable inputs reflecting management’s own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

Contingent Consideration — The Company records a liability for contingent consideration at the date of a business combination and reassesses the fair value of the liability each period until it is settled. Upon settlement of these liabilities, the portion of the contingent consideration payment that is attributable to the initial amount recorded as part of the business combination will be classified as a cash flow from financing activities and the portion of the settlement that is attributable to subsequent changes in the fair value of the contingent consideration will be classified as a cash flow from operating activities in the Consolidated Statement of Cash Flows.

Accounts Receivable — Net — Accounts receivable are trade receivables, net of reserves for allowances for doubtful accounts totaling $6.5 million and $5.9 million as of December 31, 2022, and 2021, respectively.

Allowance for doubtful accounts is calculated based on historical losses, existing economic conditions, and analysis of specific older account balances of customer and delegate accounts. Trade receivables are written off when collection efforts have been exhausted.

Allowance for doubtful accounts changed as follows during the years presented (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning of year	$	5,946	$	7,773	$	7,843
Provision		1,465		750		2,002
Deductions		(951)		(2,577)		(2,072)
End of year	$	6,460	$	5,946	$	7,773

Deductions represent balances written off, net of amounts recovered that had previously been written off, and the effect of exchange rate fluctuations.

Property and Equipment — Net — Property and equipment are stated at cost, net of accumulated depreciation. Contemporary and archival imagery consists of costs to acquire imagery from third parties and internal and external costs incurred in creating imagery, including identification of marketable subject matter, art direction, digitization, mastering and the assignment of search terms, and other pertinent information to each image. Computer software developed for internal use consists of internal and external costs incurred during the application development stage of software development (except for training costs) and costs of upgrades or enhancements that result in additional software functionality. Costs incurred during the web application, infrastructure, graphics and content development stages of website development are also capitalized and included within computer software developed for internal use. Expenditures that extend the life, increase the capacity or improve the efficiency of property and equipment are capitalized, while expenditures for repairs and maintenance are expensed as incurred.

Depreciation is recognized on a straight-line basis over the estimated useful lives of the assets or, for leasehold improvements, over the shorter of the remaining original term of the lease or the estimated life of the related asset.

Minority Investment without Readily Determinable Fair Value — The carrying amount of the Company’s minority investments, which is included within “Other long-term assets” on the Consolidated Balance Sheets, was $9.6 million and $8.1 million as December 31, 2022 and 2021, respectively. The Company uses the measurement alternative for these equity investments and their carrying value is reported at cost, adjusted for impairments or any observable price changes in ordinary transactions with identical or similar investments. Revenue related to content consumed by the minority investees was not material during the years end December 31, 2022, 2021 and 2020. The Company purchased a minority investment in another company during the year ended December 31, 2022. The cost of that investment was $2.0 million.

The investments are holdings in a privately held companies that are not exchange traded and therefore not supported with observable market prices. The Company periodically evaluates the carrying value of the minority investment, or when events and circumstances indicate that the carrying amount of an asset may not be recovered. As of December 31, 2022, 2021 and 2020, no adjustments to the carrying values of the Company’s long-term investments were identified as a result of this assessment. Changes in performance negatively impacting operating results and cash flows of these investments could result in the Company recording an impairment charge in future periods.

Goodwill — The Company evaluates goodwill for impairment annually or more frequently when an event occurs, or circumstances indicate it is more likely than not that the fair value of the reporting unit is below its carrying value. Circumstances that

could indicate impairment and require impairment tests more frequently than annually include; significant adverse changes in legal factors or market and economic conditions, a significant decline in the financial results of the Company’s operations, significant changes in strategic plans, adverse actions by regulators, unanticipated changes in competition and market share, or a planned disposition of a significant portion of the business. Management performs the annual goodwill impairment analysis as of October 1 each year. The Company’s 2022, 2021 and 2020 goodwill impairment analyses did not result in an impairment charge. As circumstances change, it is possible that future goodwill impairment analysis could result in goodwill impairments, which would be included in the calculation of income or loss from operations.

Identifiable Intangible Assets — Identifiable intangible assets are assets that do not have physical representation but that arise from contractual or other legal rights or are capable of being separated or divided from the Company and sold, transferred, licensed, rented or exchanged. Identifiable intangible assets are amortized on a straight-line basis over their estimated useful lives, unless such life is determined to be indefinite. The remaining useful lives of identifiable intangible assets are reassessed each reporting period to determine whether events and circumstances warrant revisions to the remaining periods of amortization. Potential impairment of identifiable intangible assets with an indefinite useful life are evaluated annually or whenever circumstances indicate that it is more likely than not that the indefinite-lived asset is impaired. Intangible assets with a finite life and long-lived assets are reviewed for impairment whenever an event occurs, or circumstances change that indicate their carrying value may not be recoverable through projected undiscounted cash flows expected to be generated by the asset. If the evaluation of the projected cash flows indicates that the carrying value of the asset is not recoverable, the asset is written down to its fair value.

Loans Receivable — Loans are stated at unpaid principal balances less any allowance for loan losses. Interest is recognized over the term of the loan and is calculated using the compound interest method. Management considers a loan impaired when, based on current information or factors, it is probable that the principal and interest payment will not be collected according to the loan agreement. The Company did not recognize any loan impairment charges during the years ended December 31, 2022, 2021 or 2020.

Restructuring Costs — Restructuring costs consist of lease loss expenses and employee termination costs. The primary reasons the Company will vacate a leased space early are: consolidation of office space, decisions to move from one location to a more suitable location, and closure of excess space acquired in a business combination. An accrued liability for lease loss expenses is initially measured at fair value, based on a best estimate of the remaining lease payments due under the lease plus other costs, less any estimated sublease income, and then discounted using a credit-adjusted risk-free interest rate. These assumptions are periodically reviewed and adjustments are made to the accrued restructuring charge as required. The Company records accretion expense for losses on leased property as the difference between estimated cost and the present value of these costs. Accretion expense is recorded on an ongoing basis through the end of the lease term and is reflected as “Other operating expense — net” in the Consolidated Statements of Operations. Employee termination costs are incurred when the Company has a reduction in force and include one-time termination benefits that are not a part of an existing benefit arrangement. See “Note 21 — Restructuring Costs” for further information.

Leases —The Company recorded rent expense for the year end December 31, 2021 on a straight-line basis over the term of the related lease. Prior to the adoption of ASU 2016-02, “Leases (Topic 842)”, as amended (“ASC 842”), the difference between the rent expense recognized and the actual payments made in accordance with the operating lease agreement was recognized as a deferred rent liability on the Company’s Consolidated Balance Sheet. As of December 31, 2021, the Company had deferred rent of $8.3 million, which is included in “Accrued expenses” and “Other long-term liabilities” in the Consolidated Balance Sheet.

Effective January 1, 2022, the Company adopted ASC 842. In accordance with ASC 842, the Company first determines if an arrangement contains a lease and the classification of that lease, if applicable, at inception. This standard requires the recognition of right-of-use (“ROU”) assets and lease liabilities for the Company’s operating leases. For contracts with lease and non-lease components, the Company has elected not to allocate the contract consideration, and to account for the lease and non-lease components as a single lease component. The Company has also elected not to recognize a lease liability or ROU asset for leases with a term of 12 months or less, and recognize lease payments for those short-term leases on a straight-line basis over the lease term in the Consolidated Statements of Operations. Operating leases are included in “Right of use assets”, “Accrued expenses” and “Lease liabilities” (net of current portion) in the Consolidated Balance Sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments under the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The implicit rate within the Company’s leases is generally not determinable and therefore the incremental borrowing rate at the lease commencement date is utilized to determine the present value of lease payments. The determination of the incremental borrowing rate requires judgment. Management determines the incremental borrowing rate for each lease using the Company’s estimated borrowing rate, adjusted for various factors including level

of collateralization, term and currency to align with the terms of the lease. The ROU asset also includes any lease prepayments, offset by lease incentives. Certain of the Company’s leases include options to extend or terminate the lease. An option to extend the lease is considered in connection with determining the ROU asset and lease liability when the Company is reasonably certain that the option will be exercised. An option to terminate is considered unless the Company is reasonably certain the option will not be exercised. The ROU assets are reviewed for impairment with the Company’s long-lived assets

Deferred Offering Costs — The Company capitalized direct and incremental qualified legal, accounting and direct costs related to its proposed equity offering and Business Combination. See “Note 3 — Business Combination” for further information. As of December 31, 2021 Deferred offering costs were included in “Other current assets” on the Consolidated Balance Sheets. Upon closing of the Business Combination the offering costs were reflected as a deduction to additional paid-in capital. As of December 31, 2021, $3.9 million of deferred offering costs were capitalized. There were no such costs capitalized as of December 31, 2022.

Related-Party Transactions — The Company paid annual management fees to Getty Investments, LLC (“Getty Investments”) in the amount of $0.9 million, $1.5 million and $1.3 million for the years ended December 31, 2022, 2021 and 2020, respectively. These costs are included in “Selling, general and administrative expenses” in the Consolidated Statements of Operations. Getty Investments was the majority partner in Partnership. With the closing of the Business Combination, the management fee contract was terminated.

On June 15, 2016, Getty SEA, a subsidiary of the Company, entered into various agreements with Visual China Group Holding Limited (“VCG”). As part of those agreements, Getty SEA issued $24.0 million in an unsecured note receivable to VCG. This note receivable bears interest at 2.5% per annum with an August 18, 2036 due date. VCG is also a minority interest stockholder of Getty SEA. As of December 31, 2022 and 2021 this unsecured note receivable is included in “Other long-term assets” in the Consolidated Balance Sheets.

Revenue Recognition — Revenue is derived principally from licensing rights to use images, video footage and music that are delivered digitally over the internet. Digital content licenses are generally purchased on a monthly or annual subscription basis, whereby a customer either pays for a predetermined quantity of content or for access to the Company’s content library that may be downloaded over a specific period of time, or, on a transactional basis, whereby a customer pays for individual content licenses at the time of download. Also, a significant portion of revenue is generated through the sale and subsequent use of credits. Various amounts of credits are required to license digital content.

The Company recognizes revenue gross of contributor royalties because the Company is the principal in the transaction as it is the party responsible for the performance obligation and it controls the product or service before transferring it to the customer. The Company also licenses content to customers through third-party delegates worldwide (approximately 3% of total revenues for the years ended December 31, 2022, 2021 and 2020). Delegates sell the Company’s products directly to customers as the principal in those transactions. Accordingly, the Company recognizes revenue net of costs paid to delegates. Delegates typically earn and retain 35% to 50% of the license fee, and the Company recognizes the remaining 50% to 65% as revenue.

The Company maintains a credit department that sets and monitors credit policies that establish credit limits and ascertains customer creditworthiness, thus reducing the risk of potential credit loss. Revenue is not recognized unless it is determined that collectability is reasonably assured. Revenue is recorded at invoiced amounts (including discounts and applicable sales taxes) less an allowance for sales returns, which is based on historical information. Customer payments received in advance of revenue recognition are contract liabilities and are recorded as deferred revenue. Customers that do not pay in advance are invoiced and are required to make payments under standard credit terms.

The Company recognizes revenue under the core principle to depict the transfer of control to the Company’s customers in an amount reflecting the consideration to which the Company expects to be entitled. In order to achieve that core principle, the Company applies the following five-step approach: (i) identify the contract with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when a performance obligation is satisfied.

For digital content licenses, the Company recognizes revenue on both its capped subscription-based, credit-based sales and single image licenses when content is downloaded, at which time the license is provided. In addition, management estimates expected unused licenses for capped subscription-based and credit-based products and recognizes the revenue associated with the unused licenses throughout the subscription or credit period. The estimate of unused licenses is based on historical download activity and future changes in the estimate could impact the timing of revenue recognition of the Company’s subscription products.

For uncapped digital content subscriptions, the Company has determined that access to the existing content library and future digital content updates represent two separate performance obligations. As such, a portion of the total contract consideration related to access to the existing content library is recognized as revenue at the commencement of the contract when control of the content library is transferred. The remaining contractual consideration is recognized as revenue ratably over the term of the contract when updated digital content is transferred to the licensee, in line with when the control of the new content is transferred.

See “Note 14 — Revenue” and “Note 22 — Segment and Geographic Information” for additional revenue disclosures.

Cost of Revenue — The ownership rights to the majority of the content licensed is retained by the owners, and licensing rights are provided to the Company by a large network of content suppliers. When the Company licenses content entrusted by content suppliers, royalties are paid to them at varying rates depending on the license model and the customers use of that content. Suppliers who choose to work with the Company under contract typically receive royalties between 20% to 50% of the total license fee charged customers. The Company also owns the copyright to certain content in its collections (wholly owned content), including content produced by staff photographers for the Editorial Stills product, for which the Company does not pay any third-party royalties. Cost of revenue also includes costs of assignment photo shoots but excludes depreciation and amortization associated with creating or buying content.

Sales Commissions — Internal sales commissions are generally paid in the quarter following invoicing of the commissioned receivable and is reported in “Selling, general and administrative expenses” on the Consolidated Statements of Operations. The Company expenses contract acquisition costs, including internal sales commissions, as incurred, to the extent that the amortization period would otherwise be one year or less.

Equity-Based Compensation — Equity-based compensation is accounted for in accordance with authoritative guidance for equity-based payments. This guidance requires equity-based compensation cost to be measured at the grant date based on the fair value of the award and recognized as an expense over the applicable service period, which is the vesting period, net of estimated forfeitures. Compensation expense for equity-based payments that contain service conditions is recorded on a straight-line basis, over the service period of generally four years. Compensation expense for equity-based payments that contain performance conditions is not recorded until it is probable that the performance condition will be achieved. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from the Company’s current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. The Company considers many factors when estimating expected forfeitures, including types of awards, employee class, and historical experience. Actual results and future estimates may differ substantially from current estimates.

Common Stock Warrants — The Company assumed 20,700,000 warrants originally issued in CCNB’s initial public offering (the “Public Warrants”) and 18,560,000 warrants issued in a private placement that closed concurrently with CCNB’s initial public offering, (the “Private Placement Warrants”) in the Business Combination. In addition, on the Closing Date, the Company issued 3,750,000 warrants in connection with a Forward Purchase Agreement dated August 4, 2020 (the “Forward Purchase Agreement” and the “Forward Purchase Warrants”). The Public, Private Placement and Forward Purchase Warrants entitled the holder to purchase one share of Class A Common Stock at an exercise price of $11.50 per share.

The Company evaluated the Public, Private Placement and Forward Purchase Warrants (together “the Warrants”) under ASC 815-40, Derivatives and Hedging-Contracts in Entity’s Own Equity (“ASC 815-40”), and concluded they did not meet the criteria to be indexed to the Company’s own stock as certain provisions of the Warrant Agreement could change the settlement amount of these warrants based on variables that would not be considered inputs to the valuation model for a fixed-for-fixed equity instrument. Since the Warrants met the definition of a derivative under ASC 815-40, the Company recorded these Warrants as liabilities in the Consolidated Balance Sheets at fair value, with subsequent changes in their respective fair values recognized in the “Loss on fair value adjustment for warrant liabilities — net” within the Consolidated Statements of Operations at each reporting date.

The Public Warrants were publicly traded and thus had an observable market price to estimate fair value. The Forward Purchase Warrants, which had identical terms as the Public Warrants, were valued similar to the Public Warrants. The Private Placement Warrants were valued using a Black-Scholes option-pricing model as described in “Note 7 — Fair Value of Financial Instruments”.

As described in “Note 5 — Common Stock Warrants”, during the year ended December 31, 2022, all Warrants were exercised or redeemed.

Advertising and Marketing — The Company markets its products and services mainly through paid search, natural or organic search optimization, affiliate marketing channels, email and website marketing, customer events and public relations initiatives. Costs associated with marketing efforts are recorded in “Selling, general and administrative expenses” when related liabilities are incurred. For paid search and affiliate marketing, liabilities are incurred when potential new customers click through the links in the ad, generating an obligation to the internet search provider or affiliate marketing partner. Advertising and marketing costs expensed for the years ended December 31, 2022, 2021 and 2020 were $55.8 million, $53.7 million and $49.0 million, respectively.

Income Taxes — The Company computes income taxes and accruals for uncertain tax positions under the asset and liability method as set forth in the authoritative guidance for accounting for income taxes and uncertain tax positions. Deferred income taxes are provided for the temporary differences between the consolidated financial statement carrying amounts and the tax basis of the Company’s assets and liabilities and operating loss and tax credit carryforwards. The Company establishes a valuation allowance for deferred tax assets if it is not more likely than not that the tax benefits will be realized. Periodically, the valuation allowance is reviewed and adjusted based on management’s assessments of realizable deferred tax assets. The Company accounts for the global intangible low-tax income (“GILTI”) earned by foreign subsidiaries included in gross U.S. taxable income in the period incurred. See “Note 20 — Income Taxes” for further information.

Segments — The Company has determined that it operates and manages one operating segment, which is the business of developing and commercializing visual content. The Company’s chief operating decision maker (the “CODM”), its chief executive officer, reviews financial information on an aggregate basis for the purpose of allocating resources and making operating decisions.

Concentration of Credit Risk — Financial instruments that are exposed to concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable balances. Cash and cash equivalents are held with financial institutions of high quality. Balances may exceed the amount of insurance provided on such deposits.

Concentration of credit risk with respect to trade receivables is limited due to the large number of customers and their dispersion across many geographic areas. No single customer represented 10% or more of the Company’s total revenue or accounts receivable in any of the years presented.

Recently Adopted Accounting Standard Updates — In February 2016, the FASB issued ASU 2016-02, “Leases” (“ASU 2016-02”). ASU 2016-02 amends the accounting for leases. The new guidance requires the recognition of lease assets and liabilities for operating leases with terms of more than twelve months, in addition to those currently recorded, on the Consolidated Balance Sheets. Presentation of leases within the Consolidated Statements of Operations and Consolidated Statements of Cash Flows is generally consistent with the current lease accounting guidance. The Company adopted the new standard as of January 1, 2022 using the modified retrospective transition method and elected the package of practical expedients permitted under the transition guidance, which allows a carryforward of the historical lease classification. The Company also elected the hindsight practical expedient to determine the reasonably certain lease term for existing leases. The election of the hindsight practical expedient did not alter the lease terms for any of the existing leases. Upon adoption of this standard on January 1, 2022, the Company recognized a total lease liability in the amount of $61.3 million, representing the present value of the minimum rental payments remaining as of the adoption date, a right-of-use asset in the amount of $53.1 million with offsets to deferred rent of $8.3 million.

In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes (Topic 740)” (“ASU 2019-12”), which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies U.S. GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The Company adopted ASU 2019-12, effective January 1, 2022. The adoption of this standard did not have a material impact on the consolidated financial statements.

Recently Issued Accounting Standard Updates — In June 2016, the FASB issued ASU 2016-13 (Topic 326), “Financial Instruments — Credit Losses” (“ASU 2016-13”). ASU 2016-13 changes how to recognize expected credit losses on financial assets. The standard requires an entity to replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects current expected credit losses, requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates and provides additional transparency about credit risk. The effective date of ASU 2016-13 for the Company is beginning with fiscal years after December 15, 2022, including interim periods within those fiscal years. The Company adopted ASU 2016-13 on January 1, 2023. The adoption of this standard did not have a material impact on the consolidated financial statements.

Subsequent Events — The Company evaluated subsequent events and transactions for potential recognition or disclosure in the consolidated financial statements through March 13, 2023.

BUSINESS COMBINATION

12 Months Ended

Dec. 31, 2022

BUSINESS COMBINATION

BUSINESS COMBINATION

3.	BUSINESS COMBINATION

As discussed in “Note 1 – Description of Business”, on July 22, 2022, the Company consummated the transactions contemplated by the Business Combination Agreement. At the Closing, and subject to the terms and conditions of the Business Combination Agreement, holders of 153,322,880 shares of Legacy Getty common stock received 196,938,915 shares of the Company’s Class A Common Stock as consideration in the Business Combination, and the previously outstanding Legacy Getty Redeemable Preferred Stock was retired in full through a combination of a cash payment of approximately $615.0 million and 15,000,000 shares of the Company’s Class A Common Stock with a fair value at issuance of $140.2 million. Each Legacy Getty Option (whether vested or unvested) to purchase Legacy Getty Common Shares was converted into an option to purchase a number of shares of the Company’s Class A Common Stock and at an exercise price converted based on the Exchange Ratio, calculated in accordance with the terms of the Business Combination Agreement.

In addition to the consideration paid at Closing, during a period to expire 10 years from the Closing Date (the “Earn-Out Period”), within 10 business days after the occurrence of an applicable triggering event, as described below, the Company was required to issue to former equity holders of Legacy Getty an aggregate of up to 59,000,000 shares of the Company’s Class A Common Stock (the “Earn-Out Shares”), upon the terms and subject to the conditions set forth in the Business Combination Agreement and the other agreements contemplated thereby. The Earn-Out Shares were issuable in three equal tranches if (i) the volume weighted average price of the shares of the Company’s Class A Common Stock over any 20 trading days within any 30 consecutive trading day period was greater than or equal to $12.50, $15.00 and $17.50, respectively, or (ii) if there was a change of control of the Company prior to the expiration of the Earn-Out Period that would result in the holders of shares of the Company’s Class A Common Stock receiving a price per share equal to or in excess of $12.50, $15.00 and $17.50, respectively. The Earn-Out Shares were accounted for as equity-classified equity instruments and recorded in additional paid-in capital as part of the Business Combination.

Pursuant to a certain letter agreement executed concurrently with the Business Combination Agreement (the “Sponsor Side Letter”), CC Neuberger Principal Holdings II Sponsor, LLC (the “Sponsor”), its independent directors and certain affiliates, agreed to convert, through a series of transactions, 5,140,000 of its CCNB Class B common stock into 2,570,000 Series B-1Common Stock and 2,570,000 Series B-2 Common Stock of the Company (the shares of Series B-2 Common Stock together with the shares of Series B-1 Common Stock, the “Restricted Sponsor Shares”), which were subject to forfeiture if certain vesting events are not satisfied. The Series B-1 Common Stock and Series B-2 Common Stock would vest and convert into shares of Class A Common Stock if (i) the volume weighted average price of the shares of the Company’s Class A Common Stock over any 20 trading days within any 30 consecutive trading day period was greater than or equal to $12.50 and $15.00, respectively, or (ii) if there was a change of control of the Company that would result in the holders of shares of the Company’s Class A Common Stock receiving a price per share equal to or in excess of $12.50 and $15.00, respectively. The Restricted Sponsor Shares are accounted for as equity-classified equity instruments and recorded in additional paid-in capital as part of the Business Combination.

Concurrent with the execution of the Business Combination Agreement, CCNB and the Company entered into Subscription Agreements (the “PIPE Subscription Agreements”) with the Sponsor and Getty Investments. Additionally, on December 28, 2021, CCNB and the Company entered into the Permitted Equity Subscription Agreement with Multiply Group (the “Permitted Equity Subscription Agreement”). On July 22, 2022, Getty Investments entered into an additional subscription agreement with the Company (the “Additional Getty Subscription Agreement”). Pursuant to the PIPE Subscription Agreements, the Permitted Equity Subscription Agreement and the Additional Getty Subscription Agreement, on the Closing Date, the Sponsor, Getty Investments and Multiply Group subscribed for and purchased, and CCNB and the Company issued and sold to such investors, an aggregate of 36,000,000 shares of the Company’s Class A Common Stock for a purchase price of $10.00 per share, for aggregate gross proceeds of $360.0 million (the “PIPE Financing”).

On the Closing Date, the Company completed the issuance and sale of 20,000,000 shares of the Company’s Class A Common Stock and 3,750,000 Forward Purchase Warrants to Neuberger Berman Opportunistic Capital Solutions Master Fund LP (“NBOKS”) for an aggregate purchase price of $200.0 million, in connection with the Forward Purchase Agreement. Refer to “Note 5 – Common Stock Warrants” for additional information on the accounting for the Forward Purchase Warrants.

Additionally, on the Closing Date, the Company completed the sale of 30,000,000 shares of the Company’s Class A Common Stock to NBOKS, for a purchase price of $10.00 per share and aggregate purchase price of $300.0 million, pursuant to that certain Backstop Facility Agreement dated November 16, 2020, as amended.

Upon the closing of the Business Combination, the Company’s certificate of incorporation was amended and restated to, among other things, increase the total number of authorized shares of all classes of capital stock to 2,006,140,000 shares, $0.0001 par value

per share, of which, 2,000,000,000 shares are designated as Class A Common Stock, 5,140,000 shares are designated as Class B common stock, and 1,000,000 shares are designated as preferred stock.

The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, CCNB was treated as the “acquired” company and Getty Images is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Getty Images issuing stock for the net assets of CCNB, accompanied by a recapitalization. The net assets of CCNB are stated at historical cost, with no goodwill or other intangible assets recorded.

The following table reconciles the elements of the Business Combination to the Consolidated Statement of Cash Flows and the Consolidated Statements of Redeemable Preferred Stock and Stockholders’ Equity (Deficit) for the year ended December 31, 2022 (in thousands):


Cash – CCNB trust and cash, net of redemptions	$	4,164
Cash – PIPE Financing		360,000
Cash – Forward Purchase Agreement		200,000
Cash – Backstop Agreement		300,000
Less: Cash paid to redeem Redeemable Preferred Stock		(614,996)
Less: Transaction costs paid during the year ended December 31, 2022		(106,917)
Net cash contributions from the Business Combination and related transactions	$	142,251
Add: Non-cash assets received from CCNB		806
Add: Transaction costs allocated to warrants		4,262
Add: Cash paid to redeem Redeemable Preferred Stock		614,996
Add: Tax effect of change in tax basis due to business combination		6,508
Less: Fair value of Public, Private Placement and Forward Purchase Warrants		(72,374)
Less: Transaction costs previously paid by Legacy Getty during 2021 or accrued at December 31, 2022		(1,989)
Net Business Combination and related transactions, excluding Redeemable Preferred Stock redemption	$	694,460
Add: Fair value of Class A common stock issued to redeem Redeemable Preferred Stock		140,250
Net Business Combination and related transactions, including Redeemable Preferred Stock redemption	$	834,710

The number of shares of common stock issued immediately following the consummation of the Business Combination:


Common stock of CCNB, net of redemptions		508,311
CCNB shares held by the Sponsor		25,700,000
Shares issued in the PIPE Financing		36,000,000
Shares issued in the Forward Purchase Agreement		20,000,000
Shares issued in the Backstop Agreement		30,000,000
Total shares issued in Business Combination and related transactions		112,208,311
Shares issued for Getty Images common stock		196,938,915
Shares issued upon redemption of Getty Images Redeemable Preferred Stock		15,000,000
Total shares of common stock immediately following the Business Combination		324,147,226

CCNB shares held by the Sponsor in the table above include 5,140,000 Restricted Sponsor Shares.

ACQUISITION

12 Months Ended

Dec. 31, 2022

ACQUISITION

ACQUISITION

4.	ACQUISITION

On April 1, 2021 (the “Closing Date”), the Company acquired Unsplash Inc. (“Unsplash”) in exchange for $95.4 million in cash plus additional conditional payments (“Contingent Consideration”).

The Contingent Consideration payments are based on revenue of Unsplash for (i) the period commencing May 1, 2021 and ending on the earlier of when the trailing 12-month revenues of Unsplash reaches $10.0 million or two years (the “Two-Year Earnout”), and (ii) the period commencing May 1, 2021 and ending on the earlier of when the trailing 12-month revenues of the Unsplash reaches $30.0 million or three years (the “Three-Year Earnout”).

If the Two-Year Earnout is met, the payment will be $10.0 million, plus $1.0 thousand for every $1.0 million in revenues that exceed $10.0 million and $2.5 thousand for every $1.0 million in revenues that exceeds $20.0 million in that trailing 12-month period. The Two-Year Earnout was met and payment of $10.0 million was made during the year ended December 31, 2022.

If the Three-Year Earnout is met, the payment will be $10.0 million, plus $1.0 thousand for every $1.0 million in revenues that exceed $30.0 million and $2.5 thousand for every $1.0 million in revenues that exceeds $60.0 million in that trailing 12-month period.

To estimate the fair value of the Contingent Consideration, the Company used a variation of an income approach where revenue was simulated in a risk-neutral framework using Geometric Brownian Motion, which is a model of stock price behavior that is used in option pricing models such as the Black-Scholes option pricing model. The real options method extends this model to situations where the asset of interest (revenue in this case) is not priced in the market. The Company determined the acquisition-date fair value of the Contingent Consideration to be $13.2 million, based on the likelihood of paying cash related to the contingent earn-out clauses, as part of the consideration transferred. See “Note 7 — Fair Value of Financial Instruments” for subsequent measurements of these contingent liabilities.

The components of the fair value of consideration transferred are as follows (in thousands):


Cash	$	95,418
Contingent Consideration		13,200
Total fair value of consideration transferred	$	108,618

The transaction was accounted for using the acquisition method and, accordingly, the results of the acquired business have been included in the Company’s results of operations from the acquisition date. In connection with the acquisition, the Company incurred approximately $0.4 million of transaction costs.

Unsplash provides a platform for sharing exclusively curated, world-class images, free for use. With more than 102 million image downloads and 20 billion image views per month, Unsplash has become a leading source for visuals on the internet. This acquisition will allow the Company to increase its presence across the full spectrum of the world’s growing creative community.

The fair value of consideration transferred in this business combination was allocated to the intangible and tangible assets acquired and liabilities assumed at the acquisition date, with the remaining unallocated amount recorded as goodwill. Goodwill is primarily attributed to assembled workforce of Unsplash and expected synergies from combining operations. Goodwill recognized for this acquisition was allocated to the Company’s one operating segment and is generally not tax deductible.

The aggregate purchase price was allocated to the assets acquired and liabilities assumed as follows (in thousands):


	Fair Value at
Assets acquired and liabilities assumed:	Acquisition Date
Cash and cash equivalents	$	6,213
Accounts receivable		1,061
Other current assets		736
Prepaid expenses		118
Property and equipment		1,729
Other long term assets		306
Identifiable intangible assets		23,900
Goodwill		75,782
Total assets acquired	$	109,845
Accounts payable and accrued expenses		(128)
Deferred income tax liability		(1,099)
Total liabilities assumed		(1,227)
Net assets acquired	$	108,618

The identifiable intangible assets, which include contributor content, customer relationships, developed technology, and trade names, have a weighted average life of approximately 6.0 years and are being amortized on a straight-line basis. The fair value of the customer relationships was determined using a variation of the income approach known as the multiple-period excess earnings

method. The fair value of the trade names and developed technology were determined using the relief-from-royalty method and the fair value of the contributor content was determined using the cost-to-recreate method.

The revenue and operating loss from Unsplash included in the Company’s consolidated statements of operations for the year ended December 31, 2021 was $5.8 million and $1.2 million, respectively.

COMMON STOCK WARRANTS

12 Months Ended

Dec. 31, 2022

COMMON STOCK WARRANTS

COMMON STOCK WARRANTS

5.	COMMON STOCK WARRANTS

Public Warrants — As part of CCNB’s initial public offering, 20,700,000 Public Warrants were sold. The Public Warrants entitled the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to adjustments. The Public Warrants were only exercisable for a whole number of shares of Class A Common Stock. No fractional shares were to be issued upon exercise of the warrants. The Public Warrants were set to expire at 5:00 p.m. New York City time on July 22, 2027, or earlier upon redemption or liquidation. The Public Warrants were listed on the NYSE under the symbol “GETY.WS.”

The Company redeemed the Public Warrants at a price of $0.01 per warrant after the sale price of Class A Common Stock equaled or exceeded $18.00 per share for 20 trading days within a 30-trading day period. The Company had the option to require all holders that wish to exercise the Public Warrants to do so on a cashless basis.

Private Placement Warrants — Simultaneously with CCNB’s initial public offering, CCNB consummated a private placement of 18,560,000 Private Placement Warrants with CCNB’s sponsor. Each Private Placement Warrant was exercisable for one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment. The Private Placement Warrants were identical to the Public Warrants, except that the Private Placement Warrants were non-redeemable so long as they were held by the initial purchasers or such purchasers’ permitted transferees, and the initial purchasers or such purchasers’ permitted transferees had the option to exercise the Private Placement Warrants on a cashless basis. If the Private Placement Warrants were held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants would be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

In August 2022, all of the Private Placement Warrants were exercised on a cashless basis for 11,555,996 shares of Class A Common Stock. The fair value of the Private Placement Warrants was remeasured upon the exercise of the warrants, resulting in a non-cash loss of $176.6 million recorded in “Loss on fair value adjustment for warrant liabilities — net” Consolidated Statements of Operations.

Forward Purchase Warrants — Additionally, on the Closing Date, the Company issued 3,750,000 Forward Purchase Warrants in connection with the Forward Purchase Agreement. The Forward Purchase Warrants had the same terms as the Public Warrants.

The Company concluded the Public, Private Placement and Forward Purchase Warrants meet the definition of a derivative under ASC 815-40 (as described in “Note 2 — Summary of Significant Accounting Policies”) and were recorded as liabilities. Upon consummation of the Business Combination, the fair value of the Public, Private Placement and Forward Purchase Warrants were recorded in the Consolidated Balance Sheet. Transaction costs allocated to the issuance of the Public, Private Placement and Forward Purchase Warrants of $4.3 million were recorded as “Other non-operating (expense) income — net” in the Consolidated Statements of Operations.

On September 19, 2022, the Company announced that it had elected to redeem all of the outstanding Public Warrants and Forward Purchase Warrants that remain outstanding at 5:00 p.m. New York City time on October 19, 2022 for $0.01 per warrant. 10,328 Public Warrants were exercised for an aggregate cash payment of $0.1 million. Effective October 19, 2022, the remaining Public Warrants and Forward Purchase Warrants were redeemed for $0.2 million. The fair value of the Public and Forward Purchase Warrants was remeasured upon the exercise and redemption of the warrants, resulting in a non-cash gain of $15.9 million recorded in “Loss on fair value adjustment for warrant liabilities — net” Consolidated Statements of Operations.

As of December 31, 2022, there are no outstanding Public, Private Placement or Forward Purchase Warrants.

DERIVATIVE INSTRUMENTS

12 Months Ended

Dec. 31, 2022

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS

6.	DERIVATIVE INSTRUMENTS

Foreign Currency Risk — Certain assets, liabilities and future operating transactions are exposed to foreign currency exchange rate risk. The Company has utilized derivative financial instruments, namely foreign currency forwards and option contracts, to reduce the impact of foreign currency exchange rate risks where natural hedges do not exist. The Company is exposed to market risk from

foreign currency exchange rate fluctuations as a result of foreign currency-denominated revenues and expenses. The Company has entered into certain foreign currency derivative contracts, including foreign currency forward options to manage these risks. These contracts were economic hedges of the Company’s exposures but were not designated as hedges, as defined in the applicable accounting guidance, for financial reporting purposes. The notional amounts outstanding under these contracts as of December 31, 2021 was $15.2 million. These contracts were carried at fair value, as determined by quoted market exchange rates. At December 31, 2022 the Company held no foreign currency contracts. The Company recognized gain of $0.7 million, gain of $1.7 million and loss $0.9 million of loss for the years ended December 31, 2022, 2021 and 2020, respectively. These gains and losses are recognized in “Gain (loss) on fair value adjustment for swaps and foreign currency exchange contract — net” in the accompanying Consolidated Statements of Operations.

Interest Rate Risk — In February 2019, the Company entered into two interest rate swaps to hedge interest rate risk associated with the Company’s debt. The notional amounts of one of these swaps is $175.0 million and the other was $355.0 million. During the year ended December 31, 2022, the $175.0 million notional amount swap matured. The Company holds one interest rate swap at December 31, 2022. Both swaps are considered economic hedges and have not been designated as hedges, as defined in the applicable accounting guidance, for financial reporting purposes. The changes in fair value are recognized in “Gain (loss) on fair value adjustment for swaps and foreign currency exchange contract — net” in the accompanying Consolidated Statements of Operations. Under the interest rate swap agreements, the Company pays fixed rates of 2.5010% and 2.6000%, respectively, each month. Each swap contains an embedded floor option under which the Company receives a rate of 0.0% or one-month LIBOR, whichever is greater, to match the terms of the Company’s debt.

For the interest rate swaps, the Company recognized gain of $22.8 million, gain of $17.6 million and loss of $13.3 million on these derivative instruments for the years ended December 31, 2022, 2021 and 2020, respectively.

The Company does not hold or issue derivative financial instruments for trading purposes. In general, the Company’s derivative activities do not create foreign currency exchange rate risk because fluctuations in the value of the instruments used for economic hedging purposes are offset by fluctuations in the value of the underlying exposures being hedged. Counterparties to derivative financial instruments expose the Company to credit related losses in the event of nonperformance; however, the Company has entered into these instruments with creditworthy financial institutions and considers the risk of nonperformance to be minimal.

The following table summarizes the location and fair value amounts of derivative instruments reported in the Consolidated Balance Sheets (in thousands):


	As of December 31,
	2022				2021
	Asset		Liability		Asset		Liability
Derivatives not designated as hedging instruments:
Interest rate swaps	$	9,032	$	—	$	—	$	13,759
Foreign currency exchange options		—		—		804		—
Total derivatives	$	9,032	$	—	$	804	$	13,759

Short-term derivative assets are included in “Other current assets” and long-term derivative assets are included in “Other long-term assets” on the Consolidated Balance Sheet. Short-term derivative liabilities are included in “Accrued expenses” and long-term derivative liabilities are included in “Other long-term liabilities” on the Consolidated Balance Sheet.

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

7.	FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company’s disclosable financial instruments consist of cash equivalents, forward foreign currency exchange contracts, interest rate swaps, debt, contingent consideration and common stock warrants. Assets and liabilities measured at fair value on a recurring basis (cash equivalents, forward exchange contracts, interest rates swaps and common stock warrants) and a nonrecurring basis (debt) are categorized in the tables below based on the levels discussed in “Note 2 — Summary of Significant Accounting Policies”.

Financial instrument assets recorded at fair value as of December 31 are as follows (in thousands):


	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
Money market funds (cash equivalents)	$	20,462	$	—	$	—	$	20,462
Derivative assets:
Interest rate swaps		—		9,032		—		9,032
	$	20,462	$	9,032	$	—	$	29,494


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Money market funds (cash equivalents)	$	30,096	$	—	$	—	$	30,096
Derivative assets:
Foreign currency exchange options		—		804		—		804
	$	30,096	$	804	$	—	$	30,900

The fair value of the Company’s money market funds is based on quoted active market prices for the funds and is determined using the market approach.

Financial instrument liabilities recorded or disclosed at fair value as of December 31 are as follows (in thousands):


	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
Term Loans	$	—	$	1,112,990	$	—	$	1,112,990
Senior Notes		—		297,354		—		297,354
	$	—	$	1,410,344	$	—	$	1,410,344


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Term Loans	$	—	$	1,475,759	$	—	$	1,475,759
Senior Notes		—		318,375		—		318,375
Contingent Consideration		—		—		14,039		14,039
Derivative liabilities:
Interest Rate Swap Contracts		—		13,759		—		13,759
	$	—	$	1,807,893	$	14,039	$	1,821,932

The fair value of the Company’s Term Loans and Senior Notes are based on market quotes provided by a third-party pricing source. See “Note 12 — Debt” for additional disclosures on the Term Loans and Senior Notes.

The fair value of the Company’s interest rate swap contracts and foreign currency exchange contracts are based on market quotes provided by the counterparty. Quotes by the counterparty are calculated based on observable current rates and forward interest rate curves and exchange rates. The Company recalculates and validates this fair value using publicly available market inputs using the market approach.

Contingent Consideration — As of December 31, 2022 and 2021, the Company had estimated its obligations to transfer Contingent Consideration relating to the acquisition of Unsplash to be zero and $14.0 million, respectively. The Company recorded acquisition-date fair value of the Contingent Consideration, based on the likelihood of contingent earn-out payments, as part of the consideration transferred. The earn-out payments are remeasured to fair value each reporting date. Changes in the fair value of the Contingent Consideration are recognized within “Other operating (income) expense — net” on the Consolidated Statement of

Operations. The fair value of the Contingent Consideration is based on significant inputs not observable in the market, and as such the Company classified the financial liability as Level 3. The fair value of the Contingent Consideration may change significantly as additional data is obtained, impacting the Company’s assumptions regarding probabilities of outcomes used to estimate the fair value of the liabilities. In evaluating this information, considerable judgment is required to interpret the data used to develop the assumptions and estimates. The estimates of fair value may not be indicative of the amounts that could be realized in a current market exchange. Accordingly, the use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts, and such changes could materially impact the Company’s results of operations in future periods.

The Contingent Consideration payments are based on revenue of Unsplash as outlined in “Note 4 — Acquisition.” The Two-Year Earnout was met and a payment of $10.0 million was made during the year ended December 31, 2022.

The following table provides quantitative information associated with the fair value measurements of the Company’s Level 3 inputs:


	Fair Value as of
	December 31, 2022		Valuation
	(in thousands)		Technique	Unobservable Input	Range
Contingent Consideration	$	—	Probability-adjusted discounted cash flow	Probabilities of success	—	%
				Years until milestone is expected to be achieved	1.57	years
				Discount rate	9.94	%

This Contingent Consideration was valued using an income approach where revenue was simulated in a risk-neutral framework using Geometric Brownian Motion, a model of stock price behavior that is used in option pricing models such as the Black-Scholes option pricing model. The real options method extends this model to situations where the asset of interest (revenue in this case) is not priced in the market. The significant unobservable inputs used in the fair value measurement of the Contingent Consideration forecasts of expected future revenues and the probability of achievement of those forecasts. Increases in the assessed likelihood of a higher payout under a Contingent Consideration arrangement contribute to increases in the fair value of the related liability. Conversely, decreases in the assessed likelihood of a higher payout under a Contingent Consideration arrangement contribute to decreases in the fair value of the related liability.

The following table presents changes in the fair value of the Contingent Consideration for the years ended December 31 (in thousands):


	Year end December 31,
	2022		2021
Balance, beginning of period	$	14,039	$	—
Issuance of Contingent Consideration in connection with acquisition		—		13,200
Payment		(10,000)		—
Change in fair value of Contingent Consideration		(4,039)		839
Balance, end of period	$	—	$	14,039

Public, Private Placement and Forward Purchase Warrants — When outstanding, the Public Warrants were classified within Level 1 as they were publicly traded and had an observable market price in an active market. The Forward Purchase Warrants, which had identical terms as the Public Warrants, were valued similar to the Public Warrants and were classified within Level 2.

The Private Placement Warrants, all of which were exercised on a cashless basis in August 2022, were valued based on a Black-Scholes option pricing model, using assumptions and estimates the Company believes would be made by a market participant in making the same valuation. The Private Placement Warrants were collectively classified as a Level 3 measurement within the fair value hierarchy because the valuation model involves the use of unobservable inputs relating to the Company’s estimate of its expected stock volatility, which was developed based on the historical volatility of a publicly traded set of peer companies.

Changes in the fair value of the Private Placement Warrant liability related to updated assumptions and estimates are recognized within the Consolidated Statements of Operations as a non-operating expense. The changes in the fair value of the Private Placement Warrant liability resulted from changes in the fair values of the underlying shares of Class A Common Stock and its associated volatilities.

The following table presents the change in the fair value of the Private Placement Warrants for the year ended December 31, 2022 (in thousands):


	Year end December 31,
	2022
Balance, beginning of period	$	—
Assumed in Business Combination (Note 3)		56,237
Change in fair value		176,616
Exercise		(232,853)
Balance, end of period	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

PROPERTY AND EQUIPMENT - NET

12 Months Ended

Dec. 31, 2022

PROPERTY AND EQUIPMENT - NET

PROPERTY AND EQUIPMENT - NET

8.PROPERTY AND EQUIPMENT – NET

Property and equipment consisted of the following at the reported Balance Sheet dates (in thousands, except years):


	Estimated
	Useful
	Lives	December 31,
	(in Years)	2022		2021
Contemporary imagery	5	$	377,858	$	379,837
Computer hardware purchased	3		6,783		5,639
Computer software developed for internal use	3		119,516		114,434
Leasehold improvements	2 – 20		8,361		11,459
Furniture, fixtures and studio equipment	5		10,856		15,167
Archival imagery	40		94,043		97,547
Other	3 – 4		2,352		2,439
Property and equipment			619,769		626,522
Less: accumulated depreciation			(447,686)		(455,626)
Property and equipment, net		$	172,083	$	170,896

Included in archival imagery as of December 31, 2022 and 2021 was $10.0 million and $10.3 million respectively, of imagery that has an indefinite life and therefore is not amortized.

GOODWILL

12 Months Ended

Dec. 31, 2022

GOODWILL.

GOODWILL

Goodwill was tested for impairment as of October 1, 2022 and 2021. The Company did not recognize a goodwill impairment charge during the year ended December 31, 2022 and 2021. The fair value of the Goodwill was estimated using both market indicators

of fair value and the expected present value of future cash flows. As of December 31, 2022 and 2021, the accumulated impairment loss on Goodwill was $525.0 million.

Goodwill changed during the years presented as follows (in thousands):


	Goodwill		Accumulated
	before		impairment
	impairment		charge		Goodwill – net
December 31, 2020	$	1,955,837	$	(525,000)	$	1,430,837
Effects of fluctuations in foreign currency exchange rates		(3,374)		—		(3,374)
Goodwill related to acquisition		75,782		—		75,782
December 31, 2021	$	2,028,245	$	(525,000)	$	1,503,245
Effects of fluctuations in foreign currency exchange rates		(3,667)		—		(3,667)
December 31, 2022	$	2,024,578	$	(525,000)	$	1,499,578

IDENTIFIABLE INTANGIBLE ASSETS - NET

12 Months Ended

Dec. 31, 2022

IDENTIFIABLE INTANGIBLE ASSETS - NET

IDENTIFIABLE INTANGIBLE ASSETS - NET

10.	IDENTIFIABLE INTANGIBLE ASSETS — NET

Identifiable intangible assets consisted of the following at December 31 (in thousands, except years):


		As of December 31, 2022
		2022						2021
	Range of
	Estimated
	Useful Lives	Gross		Accumulated		Net		Gross		Accumulated			Net
	(Years)	Amount		Amortization		Amount		Amount		Amortization			Amount
Trade name	Indefinite	$	389,484	$	—	$	389,484	$	402,581	$	—	$	402,581
Trademarks and trade names	5 – 10		104,053		(104,026)		27		104,174		(96,041)		8,133
Patented and unpatented technology	3 – 10		109,275		(103,419)		5,856		112,288		(97,818)		14,470
Customer lists, contracts, and relationships	5 – 11		391,454		(367,273)		24,181		404,421		(350,997)		53,424
Non-compete Covenant	3		900		(900)		—		900		(811)		89
Other identifiable intangible assets	3 – 13		5,059		(5,059)		—		7,110		(6,955)		155
		$	1,000,225	$	(580,677)	$	419,548	$	1,031,474	$	(552,622)	$	478,852

The Getty Images trade name was valued using an estimated royalty rate which considered name recognition, licensing practices of the Company and its competitors for similar services, and other relevant qualitative factors.

Based on balances at December 31, 2022, the estimated aggregate amortization expense for identifiable intangible assets for the next five years is as follows (in thousands):


Fiscal Years Ended
December 31,
2023	$	23,892
2024	$	2,092
2025	$	2,083
2026	$	729
2027	$	279

OTHER ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2022

OTHER ASSETS AND LIABILITIES

OTHER ASSETS AND LIABILITIES

11.	OTHER ASSETS AND LIABILITIES

Other Long-Term Assets — Other long-term assets consisted of the following at the reported Balance Sheet dates (in thousands):


	Year end December 31,
	2022		2021
Long term note receivable from a related party (Note 2)	$	24,000	$	24,000
Minority and other investments		12,097		10,621
Derivative asset (Note 7)		9,032		—
Tax receivable (Note 13)		2,700		3,300
Equity method investment		2,064		1,207
Long term deposits		1,609		1,754
Other		450		210
	$	51,952	$	41,092

Accrued Expenses — Accrued expenses at the reported Balance Sheet dates are summarized below (in thousands):


	Year end December 31,
	2022		2021
Accrued compensation and related costs	$	23,851	$	38,232
Lease liabilities		10,094		—
Interest payable		9,993		9,750
Accrued professional fees		4,334		5,198
Accrued contingent consideration		—		9,456
Accrued restructuring		—		1,033
Derivative liabilities		—		686
Other		1,055		2,214
	$	49,327	$	66,569

Other Long-Term Liabilities — Other long-term liabilities consisted of the following at the reported Balance Sheet dates (in thousands):


	Year end December 31,
	2022		2021
Deferred revenue (net of current portion)	$	3,167	$	3,387
Derivative liabilities (net of current portion)		—		13,073
Accrued Contingent Consideration (net of current portion)		—		4,583
Deferred rent (net of current portion)		—		3,370
Accrued restructuring (net of current portion)		—		1,441
Other		—		1,107
	$	3,167	$	26,961

DEBT

12 Months Ended

Dec. 31, 2022

DEBT

DEBT

12.

DEBT

Debt included the following (in thousands):


	Year end December 31,
	2022		2021
Senior Notes	$	300,000	$	300,000
USD Term Loans		687,400		997,800
EUR Term Loans		446,996		473,798
Less: issuance costs and discounts amortized to interest expense		(5,549)		(14,127)
Less: short-term debt – net		—		(6,481)
Long-term debt – net	$	1,428,847	$	1,750,990

In February of 2019, the Company issued $300.0 million of Senior Unsecured Notes (“Senior Notes”) and entered into a senior secured credit facility (“Credit Facility”) consisting of (i) a $1,040.0 million term loan facility (“USD Term Loans”), (ii) a €450.0 million term loan facility (“EUR Term Loans”) (together with the USD Term Loans the “Term Loans”) and (iii) an $80.0 million revolving credit facility that can be upsized to $110.0 million (“Revolver”).

The Senior Notes are due March 1, 2027, and bear interest at a rate of 9.750% per annum. Interest on the notes is payable semi-annually on March 1 and September 1 of each year. The Company may redeem the Senior Notes earlier than March 1, 2027 subject to prepayment premiums.

The Term Loans mature in 2026. The Company may voluntarily prepay loans or reduce commitments under the Credit Facility without premium or penalty.

In August of 2022, the Company utilized proceeds from its Business Combination along with cash on hand to repay $300.0 million of outstanding indebtedness on its USD Term Loans. In accordance with ASC 470-50-40-2 - Debt - Modifications and Extinguishments, the Company recorded a loss on extinguishment of debt of $2.7 million for the year ended December 31, 2022, in the Consolidated Statements of Operations related to this payment. The loss on extinguishment of debt represents the acceleration of amortization of issuance costs and debt discount related to the $300.0 million payment.

Under the terms of the Credit Facility, the prepayment of $300.0 million was applied against the quarterly installments of $2.6 million. Accordingly, the remaining balance on the USD Term Loans is due at maturity.

The face value of the EUR Term Loans was €419.0 million as of December 31, 2022 and 2021, converted using currency exchange rates as of those dates. There is no amortization on the EUR Term Loans.

The Credit Facility requires a principal payment with the net cash proceeds of certain events and up to 50% of excess cash flow (subject to reduction based on the achievement of specified net first lien leverage ratios). No excess cash flow principal payment was required for the years ended December 31, 2022 and 2021 based on the net first lien leverage ratio.

The obligations under the Credit Facility are secured by a first priority lien on substantially all of the Company’s assets.

For the USD Term Loans, the interest rate for base rate loans is 3.50% plus the greater of the prime rate in effect, the NYFRB Rate plus 0.5% or the Adjusted Eurodollar rate for a one-month interest period plus 1%. The interest rate for Eurodollar loans with respect to the USD Term Loans is the sum of the applicable rate of 4.50%, plus the Adjusted Eurodollar rate. The Eurodollar rate for borrowings denominated in USD is defined as the greater of the LIBOR Screen rate per annum for deposits of dollars for the applicable interest period as of 11:00 a.m. London time two business days prior to the first day in such interest period, or 0.0% The Adjusted Eurodollar rate is defined as the interest rate per annum (rounded upward, if necessary, to the next 1/16 of 1% ), equal to the Eurodollar Rate for the interest period multiplied by the Statutory Reserve Rate. On February 2, 2023, we amended our Credit Agreement to replace LIBOR with Adjusted Term SOFR on the USD Term Loans effective from the start of the next interest period. For the EUR Term Loans, the interest rate for loans is the sum of the applicable rate of 5.0%, plus the Adjusted Eurodollar rate. The Eurodollar rate for borrowings denominated in EUR is defined as the greater of the EURIBOR Screen rate per annum for deposits of Euro for the applicable interest period as of approximately 11:00 a.m. Brussels time two business days prior to the first day in such interest period, or 0.0%. The Adjusted Eurodollar rate is defined as the interest rate per annum (rounded upward, if necessary, to the next 1/16 of 1%), equal to the Eurodollar Rate for the interest period multiplied by the Statutory Reserve Rate. The USD Term loans

had an average interest rate of 6.00%, 4.63% and 4.69% for the years ended December 31, 2022, 2021 and 2020, respectively. The EUR Term loans had an average interest rate of 5.27%, 5.00% and 5.00% for the years ended December 31, 2022, 2021 and 2020, respectively.

The Company has not borrowed on the Revolver and incurred fees of $0.4 million during each of the years ended December 31, 2022, 2021 and 2020. The Revolver matures in 2024.

Debt issuance costs and discounts related to the Senior Notes and Term Loans are reported in the Consolidated Balance Sheet as a direct deduction from the face amount of the debt. These costs are amortized as a component of “Interest expense” in the Consolidated Statements of Operations utilizing the effective interest method. As of December 31, 2022, the Company was compliant with all debt covenants and obligations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (b)
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2022

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

13.	COMMITMENTS AND CONTINGENCIES

Commitments — The Company has entered into agreements that represent significant, enforceable and legally binding contractual obligations that are noncancelable without incurring a significant penalty. If a contract is cancelable with a penalty, the amount shown in the table below is the full contractual obligation, not the penalty, as the Company currently intends to fulfill each of these obligations.

Liabilities for uncertain tax positions are excluded from this table due to the uncertainty of the timing of the resolution of the underlying tax positions. At December 31, 2022, net uncertain tax positions were $34.6 million, which is reduced by a benefit of $2.7 million. The entire balance as of December 31, 2022 is non- current as the timing of resolution is uncertain and no portion of these liabilities is expected to be cash settled within the next 12 months.

Payments under purchase orders, certain sponsorships, donations and other commitments that are not enforceable and legally binding contractual obligations are also excluded from this table, as are payments, guaranteed and contingent, under employment contracts because they do not constitute purchase commitments.

The Company leases real estate under operating lease agreements that expire on various dates and does not anticipate any difficulties in renewing those leases that expire within the next several years or in leasing other space or hosting facilities, if required. The Company enters into unconditional purchase obligations related to contracts for cloud-based services, infrastructure and other business services as well as minimum royalty guarantees in connection with certain content licenses. The future minimum payments under debt obligations, non-cancelable operating leases and other purchase obligations are as follows as of December 31, 2022 (in thousands):


	Years ended December 31,
	2023		2024		2025		2026		2027		Thereafter		Total
USD Term Loans and EUR Term loans:
Principal payments	$	—	$	—	$	—	$	1,134,396	$	—	$	—	$	1,134,396
Interest payments⁽¹⁾		102,271		98,269		89,838		12,303		—		—		302,681
Senior Notes:
Principal payments		—		—		—		—		300,000		—		300,000
Interest payments		29,250		29,250		29,250		29,250		14,625		—		131,625
Revolver commitment fee		404		69		—		—		—		—		473
Operating lease payments on facilities leases		13,592		12,221		11,824		6,951		6,019		20,599		71,206
Minimum royalty guarantee payments to content suppliers		39,607		37,515		36,117		18,932		9,038		17,044		158,253
Technology purchase commitments		4,826		2,817		2,045		27		—		—		9,715
Other commitments		2,796		244		255		—		—		—		3,295
Total commitments	$	192,746	$	180,385	$	169,329	$	1,201,859	$	329,682	$	37,643	$	2,111,644

(1)	These are estimated payments based on interest rate curves valued as of December 31, 2022. Rates used for the EUR Term Loans are 8.1% for 2023, 8.4% for 2024, 7.8% for 2025 and 7.9% for 2026. Rates used for the USD Term Loans are 9.4% for 2023, 8.6% for 2024, 7.8% for 2025 and 7.7% for 2026.

Offsetting operating lease payments will be approximately $5.0 million in receipts for subleased facilities each year through 2024, $4.9 million in 2025 and $1.2 million in 2026. Offsetting the minimum royalty guarantee payments to content suppliers will be approximately $2.0 million in minimum guaranteed receipts from content suppliers for each of the years through 2025.

Contingencies — The Company indemnifies certain customers from claims related to alleged infringements of the intellectual property rights of third parties or misappropriation of publicity or personality rights of third parties, such as claims arising from copyright infringement or failure to secure model and property releases for images the Company licenses if such a release is required. The standard terms of these indemnifications require the Company to defend those claims upon notice and pay related damages, if any. The Company typically mitigates this risk by requiring all uses of licenses to be within the scope of the license, securing all necessary model and property releases for imagery for which the Company holds the copyright, and by contractually requiring contributing photographers and other imagery partners to do the same prior to submitting any imagery to the Company and by limiting damages/liability in certain circumstances. Additionally, the Company requires all contributors and Image Partners, as well as potential acquisition targets to warrant that the content licensed to or purchased by the Company does not and shall not infringe upon or misappropriate the rights of third parties. The Company requires contributing photographers, other imagery partners and sellers of businesses or image collections that Getty Images has purchased to indemnify the Company in certain circumstances where a claim arises in relation to an image they have provided or sold to the Company. Imagery Partners are typically required to carry insurance policies for losses related to such claims and individual contributors are encouraged to carry such policies and the Company itself has insurance policies to cover litigation costs for such claims. The Company will record liabilities for these indemnifications if and when such claims are probable and the range of possible payments and available recourse from imagery partners can be assessed, as applicable. Historically, the exposure to such claims has been immaterial, as were the recorded liabilities for intellectual property infringement at December 31, 2022 or 2021.

In the ordinary course of business, the Company enters into certain types of agreements that contingently require the Company to indemnify counterparties against third-party claims. These may include:

●

agreements with vendors and suppliers, under which the Company may indemnify them against claims arising from Getty Images’ use of their products or services;

●

agreements with customers other than those licensing images, under which the Company may indemnify them against claims arising from their use of Getty Images’ products or services;

●

agreements with agents, delegates and distributors, under which the Company may indemnify them against claims arising from their distribution of Getty Images’ products or services;

●

real estate and equipment leases, under which the Company may indemnify lessors against third-party claims relating to use of their property;

●

agreements with directors and officers, under which the Company indemnifies them to the full extent allowed by Delaware law against claims relating to their service to Getty Images;

●

agreements with purchasers of businesses Getty Images has sold, under which Getty Images may indemnify the purchasers against claims arising from the Company’s operation of the businesses prior to sale; and

●

agreements with initial purchasers and underwriters of the Company’s debt securities, under which Getty Images indemnifies them against claims relating to their participation in the Transactions.

The nature and terms of these indemnifications vary from contract to contract, and generally a maximum obligation is not stated. Because management does not believe a liability is probable, no related liabilities were recorded at December 31, 2022 or 2021.

The Company is subject to a variety of legal claims and suits that arise from time to time in the ordinary course of business. Although management currently believes that resolving such claims, individually or in aggregate, will not have a material adverse impact on the consolidated financial statements, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. The Company holds insurance policies that mitigate potential losses arising from certain indemnifications, and historically, significant costs related to performance under these obligations have not been incurred.

REVENUE

12 Months Ended

Dec. 31, 2022

REVENUE

REVENUE

14.

REVENUE

The Company distributes its content and services offerings through three primary products:

Creative — Creative is comprised of royalty free photos, illustrations, vectors and videos, which are released for commercial use and cover a wide variety of commercial, conceptual and contemporary subjects, including lifestyle, business, science, health, wellness, beauty, sports, transportation and travel. This content is available for immediate use by a wide range of customers with a depth and quality allowing our customers to produce impactful websites, digital media, social media, marketing campaigns, corporate collateral, textbooks, movies, television and online video content relevant to their target geographies and audiences. We primarily source Creative content from a broad network of professional, semi-professional and amateur creators, many of whom are exclusive to Getty Images. We have a global creative team dedicated to providing briefing and art direction to our exclusive contributor community.

Editorial — Editorial is comprised of photos and videos covering the world of entertainment, sports and news. We combine contemporary coverage of events around the globe and have the largest privately held photographic archive globally with access to images from the beginning of photography. We invest in a dedicated editorial team, which includes over 115 staff photographers and videographers to generate our own coverage in addition to coverage from our network of primarily exclusive contributors and content partners.

Other — The Company offers a range of additional products and services to deepen the customer relationships, enhance customer loyalty and create additional differentiation in the market. These additional products and services currently include music licensing, digital asset management and distribution services, print sales and data licensing.

The following table summarizes the Company’s revenue by product (in thousands):


	Year Ended December 31,
	2022		2021		2020
Creative Stills	$	585,400	$	596,917	$	532,732
Editorial Stills		325,770		306,631		266,699
Other		15,074		15,140		15,970
Total Revenue	$	926,244	$	918,688	$	815,401

The December 31, 2022 deferred revenue balance will be earned as content is downloaded, services are provided or upon the expiration of subscription-based products, and nearly all is expected to be earned within the next twelve months. From the deferred revenue balance as of January 1, 2022, $135.5 million of total revenue was recognized for the year ended December 31, 2022.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 12
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+ Details

REDEEMABLE PREFERRED STOCK

12 Months Ended

Dec. 31, 2022

REDEEMABLE PREFERRED STOCK.

REDEEMABLE PREFERRED STOCK.

15.	REDEEMABLE PREFERRED STOCK

Under its second amended and restated certificate of incorporation, Legacy Getty was authorized to issue up to 900,000 shares of series A preferred stock (the “Redeemable Preferred Stock”) with a par value of $0.01 per share. In conjunction with the Business Combination discussed in “Note 3 —Business Combination”, the previously outstanding Legacy Getty Redeemable Preferred Stock was redeemed in full through a combination of a cash payment of approximately $615.0 million and 15,000,000 shares of the Company’s Class A Common Stock with a fair value at issuance of $140.2 million.

Dividends declared and issued totaled $43.2 million (38,109 shares), $71.4 million (70,574 shares) and $64.1 million (63,384 shares) for the years ended December 31, 2022, 2021 and 2020, respectively. Redeemable Preferred Stock dividends were included in the Statements of Redeemable Preferred Stock and Stockholders’ Equity (Deficit) as a detriment to common stockholders and a benefit to Redeemable Preferred stockholders. Such dividends are also included as an adjustment to net (loss) income attributable to Getty Images Holdings, Inc. See “Note 23 — Net (Loss) Income Attributable to Common Stockholders”.

Per the terms of the Redeemable Preferred Stock, the Company elected to early redeem outstanding shares of Redeemable Preferred Stock at a premium. The redemption amount upon the Closing date was equal to (i) the liquidation value multiplied by (ii) the redemption percentage, which was 105%. The Company recognized a $26.7 million increase in the redemption value immediately prior to the Closing. These changes were effected by charges against paid-in capital as the Company was in a retained deficit prior to the Business Combination.

STOCKHOLDERS' EQUITY (DEFICIT)

12 Months Ended

Dec. 31, 2022

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT)

16.	STOCKHOLDERS’ EQUITY (DEFICIT)

Common Stock — Upon the closing of the Business Combination, the Company’s certificate of incorporation was amended and restated to, among other things, increase the total number of authorized shares of all classes of capital stock to 2,006,140,000 shares, $0.0001 par value per share, of which, 2,000,000,000 shares are designated as Class A Common Stock, 5,140,000 shares are designated as Class B common stock, and 1,000,000 shares are designated as preferred stock.

Each holder of Class A Common Stock is entitled to one vote for each share on all matters properly submitted to a vote, including the election of directors. Class A Stockholders do not have cumulative voting rights in the election of directors. Accordingly, holders of a majority of the voting shares are able to elect all of the directors. Holders of shares of Class A Common Stock are entitled to dividends, if any, as may be declared from time-to-time by the board of directors out of legally available funds. Holders of Class A Common Stock have no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund provisions applicable to Class A Common Stock.

Except as otherwise required by law, no holder of Class B common stock is entitled to any voting rights with respect Class B common stock. If entitled to vote by law, each holder of Class B common stock is entitled to one vote per share. Holders of shares of Class B common stock are entitled to receive dividends, if any, as may be declared from time-to-time by the board of directors out of legally available funds, contingent upon the occurrence of a conversion into Class A Common Stock, as discussed below. The holders of shares of Class B common stock shall not be entitled to receive any assets of the Company in the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company. Holders of Class B common stock have no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund provisions applicable to Class B common stock.

In connection with the Business Combination, 2,570,000 shares of Class B common stock were designated as Series B-1 Common Stock and 2,570,000 shares of Class B common stock were designated Series B-2 Common Stock. The Series B-1 Common Stock and Series B-2 Common Stock would automatically vest and convert into shares of Class A common stock if (i) the volume weighted average price of the shares of the Company’s Class A Common Stock over any 20 trading days within any 30 consecutive trading day period was greater than or equal to $12.50 and $15.00, respectively, or (ii) if there was a change of control of the Company that would result in the holders of shares of the Company’s Class A Common Stock receiving a price per share equal to or in excess of $12.50 and $15.00, respectively.

In August 2022, the Series B-1 Common Stock and Series B-2 Common Stock automatically converted into 5,140,000 shares of Class A Common Stock. See “Note 5 — Common Stock Warrants” for further details.

In August 2022, the Earn-Out Shares issued in connection with the Business Combination vested and 58,999,956 shares of Class A Common Stock were issued.

EQUITY-BASED COMPENSATION

12 Months Ended

Dec. 31, 2022

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION

17.EQUITY-BASED COMPENSATION

Equity-based compensation expense is recorded in “Selling, general and administrative expenses” in the Consolidated Statements of Operations, net of estimated forfeitures. The Company recognized equity-based compensation - net of estimated forfeitures of $9.5 million, $6.4 million, and $8.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. The Company capitalized $0.3 million of stock-based compensation expense associated with the cost of developing internal-use software during the year ended December 31, 2022.

Prior to the Business Combination, certain employees of the Company were granted equity awards under Legacy Getty’s Amended and Restated 2012 Equity Incentive Plan of the Parent (“Legacy Getty 2012 Plan”). Upon closing of the Business Combination, awards under the Legacy Getty 2012 Plan were converted at the Exchange Ratio, and the Company’s board of directors approved the Getty Images Holdings, Inc. 2022 Equity Incentive Plan (“2022 Plan”). The 2022 Plan provides for the grant of stock options, including incentive stock options and nonqualified stock options, stock appreciation rights, restricted stock, dividend equivalents, restricted stock units (“RSU”) and other stock or cash-based awards. Equity-based awards generally vest over four years. Under the 2022 Plan, up to 51,104,577 shares of Class A Common Stock is available for issuance, of which 16,744,429 are available to be issued as of December 31, 2022.

Stock Options — The following tables presents a summary of the Company’s stock option activity for the year ended December 31, 2022 (in thousands except weighted average data and years):


		Weighted		Remaining
	Number	Average		Average
	of	Exercise		Contractual
	awards	Price		Life (in Years)
Outstanding – December 31, 2021 (1)	26,271	$	3.98	5.87
Retroactive application of recapitalization	7,331	$	(0.87)	—
Outstanding – December 31, 2021, after effect of recapitalization (Note 3)	33,602	$	3.11	5.87
Granted	978		6.18
Exercised	(2,959)		4.36
Pre-vesting forfeitures	(1,659)		3.32
Post-vesting cancellations	(27)		2.77
Outstanding – December 31, 2022	29,935		3.08	5.85

Exercisable – December 31, 2022	26,412	$	3.01	5.62
Vested and expected to vest after December 31, 2022	29,863	$	3.08	5.85

(1)	Excludes 3,635 non-stock option equity awards that were outstanding under the Legacy Getty 2012 Plan, which were converted to Class A Common Stock upon closing of the Business Combination.

Intrinsic value of stock options is calculated as the excess of market price of the Company’s Class A Common Stock over the strike price of the stock options, multiplied by the number of stock options. The intrinsic value of the Company’s stock options is as follows (in thousands):


	December 31,
	2022		2021
Stock options outstanding	$	75,888	$	12,794
Stock options exercisable	$	68,431	$	9,254
Stock options vested and expected to vest	$	75,704	$	12,641

The intrinsic value of stock options exercised for the years ended December 31, 2022 was approximately $14.8 million. The intrinsic value of stock options exercised in each of the years ended December 21, 2021 and 2020 was insignificant.

The weighted-average grant-date fair value of stock options, the valuation model used to estimate the fair value, and the assumptions input into that model, for awards granted were as follows:


	Year Ended December 31,
	2022			2021			2020
Weighted average grant date fair value per award	$	3.17		$	1.19		$	1.22
Valuation model used		Black-Scholes			Black-Scholes			Black-Scholes
Expected award price volatility		50	%		35	%		50	%
Risk-free rate of return		4.15	%		1.15	%		1.08	%
Expected life of awards		5.7 years			6.1 years			6.1 years
Expected rate of dividends		None			None			None

The stock volatility assumption for award-based compensation is based on historical volatilities of the common stock of several public companies with characteristics similar to those of the Company since the Company’s Class A Common Stock has only been trading in the public market for a short period of time.

The risk-free rate of return represents the implied yield available during the month the award was granted for a U.S. Treasury zero-coupon security issued with a term equal to the expected life of the awards.

The expected life is measured from the grant date and is based on the simplified method calculation.

As of December 31, 2022 there was $4.5 million of total unrecognized compensation expense related to outstanding time-based awards, which the Company expects to recognize over a weighted average period of approximately 1.4 years. During the years ended December 31, 2022, 2021 and 2020, the fair value of time-based awards that vested was $7.9 million, $6.7 million, and $10.1 million, respectively.

Restricted Stock Units — The following table presents a summary of RSU activity (in thousands except weighted average data):


	Number
	of	Weighted Average
	awards	Grant-Date Fair Value
Outstanding — December 31, 2021	—
Granted	4,368	$	5.58
Vested	—
Cancelled	(1)	$	5.60
Outstanding - December 31, 2022	4,367	$	5.58

As of December 31, 2022, the total unrecognized compensation expense related to restricted stock units is approximately $22.8 million, which is expected to be recognized over a weighted average period of approximately 3.0 years.

DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2022

DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS

DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS

18.DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS

The Company sponsors defined contribution retirement plans in which the majority of employees are able to participate.

The Company sponsors one defined contribution plan in the U.S., a 401(k) plan, in which all U.S. employees over 18 years of age are auto-enrolled unless they opt-out. The Company matches 100% of participant contributions, up to the first 4% of each participant’s eligible compensation (generally including salary, bonuses and commissions), not to exceed the Internal Revenue Service per person annual limitations. Additionally, the Company sponsors one defined contribution pension plan in the U.K. Employees who contribute a minimum of 3% of their eligible compensation (generally including salary, bonuses, and commissions), generally receive a Company contribution of 5% of eligible compensation. Lastly, the Company also has a group registered retirement savings plan (RRSP) for employees in Canada. The Company matches dollar-for-dollar up to 3% of base salary. Employee contributions are deducted on a pre- tax basis and they may begin participating after 3 months of service.

The Company’s contributions to these plans and other defined contribution plans worldwide totaled $7.4 million, $8.3 million and $5.4 million for the years ended December 31, 2022, 2021 and 2020, respectively. These contributions were recorded as “Selling, general and administrative expenses” in the Consolidated Statements of Operations.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

LEASES

12 Months Ended

Dec. 31, 2022

LEASES

LEASES

19.

LEASES

The Company’s leases relate primarily to office facilities that expire on various dates from 2022 through 2032, some of which include one or more options to renew. All of the Company’s leases are classified as operating leases. Operating leases are included in “Right of use assets” in the Consolidated Balance Sheets. Current portion of the lease liabilities are included in “Accrued expenses” and non-current portion of lease liabilities are included in “Lease liabilities” in the Consolidated Balance Sheets. Operating lease costs, including insignificant costs related to short-term leases, were $10.0 million, $11.8 million and $11.8 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Additional information related to the Company’s leases as of and for the years ended December 31, 2022, is as follows (in thousands, except for the lease term and discount rate):


	As of December 31, 2022
Right of use asset	$	47,231

Lease liabilities, current		10,094
Lease liabilities, non-current		46,218
Total lease liabilities	$	56,312

Weighted average remaining lease term		6.3 years
Weighted average discount rate		5.6	%

Cash paid for amounts included in lease liabilities	$	14,150
Right of use asset obtained in exchange for lease obligation upon adoption	$	53,076
Right of use asset obtained in exchange for lease obligations	$	6,050

Maturities of lease liabilities as of December 31, 2022 were as follows (in thousands):



Year ended December 31,
2023	$	12,978
2024		12,244
2025		11,988
2026		6,592
2027		5,456
Thereafter		18,659
Total undiscounted lease payments		67,917
Less: imputed interest		(11,605)
Total lease liabilities	$	56,312

Due to hybrid working arrangements, the Company reassessed its office needs and subleased several office locations during the year ended December 31, 2022. These agreements were considered to be operating leases. The Company has not been legally released from the primary obligations under the original leases and therefore the Company continues to account for the original lease separately. The Company recorded an ROU asset impairment charge for the year ended December 31, 2022 of $2.6 million, which was the amount by which the carrying value of the lease ROU assets exceeded the fair values. Estimates of the fair values are based on the discounted cash flows of estimated net rental income for the office spaces subleased. The ROU asset impairment charge is included in “Other operating (income) expense - net” on the Consolidated Statement of Operations. Rent income from the sublessees is included in the Consolidated Statement of Operations on a straight-line basis as an offset to rent expense associated with the original operating lease included in “Selling, general and administrative expenses” on the Consolidated Statement of Operations.

INCOME TAXES

12 Months Ended

Dec. 31, 2022

INCOME TAXES

INCOME TAXES

20.	INCOME TAXES

The components of income (loss) before income taxes are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
United States	$	(95,489)	$	104,984	$	(27,823)
Foreign		61,972		31,142		(36)
Income (loss) before income taxes	$	(33,517)	$	136,126	$	(27,859)

The components of income tax expense (benefit) are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Current:
United States	$	20,652	$	22,321	$	8,854
Foreign		9,487		(7,756)		12,095
Total current income tax expense (benefit)		30,139		14,565		20,949
Deferred:
United States		13,356		4,698		(13,227)
Foreign		631		(534)		1,794
Total deferred income tax expense (benefit)		13,987		4,164		(11,433)
Total provision for income tax expense	$	44,126	$	18,729	$	9,516

The Company also recorded a total net tax benefit of $5.1 million to shareholder’s equity for the year ended December 31, 2022.

The items accounting for the difference between income taxes computed at the U.S. federal statutory rate and the effective income tax rate are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Federal income tax expense (benefit) at the statutory rate	$	(7,039)	$	28,586	$	(5,849)
Effect of:
State taxes, net of federal benefit		(3,092)		3,632		643
Tax impact of foreign earnings and losses		11,453		(10,171)		3,644
Stock-based compensation		2,230		236		169
Nondeductible net loss on fair value adjustment for warrant liabilities		34,659		—		—
Valuation allowance		12,223		1,532		13,763
Tax credits		(6,852)		(5,030)		(3,213)
Other, net		544		(56)		359
Income tax expense (benefit)	$	44,126	$	18,729	$	9,516

Uncertain Tax Positions —The Company follows the provisions of accounting for uncertainty in income taxes. This guidance clarifies the accounting for uncertainty in income taxes recognized in the consolidated financial statements and prescribes a recognition threshold of more likely than not and a measurement attribute on all tax positions taken or expected to be taken in a tax return for their recognition in the financial statements.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Uncertain tax benefits, beginning of year	$	33,425	$	47,637	$	45,003
Gross increase to tax positions related to prior years		31		121		1,239
Gross decrease to tax positions related to prior years		(1,109)		(413)		(42)
Gross increase to tax positions related to the current year		675		2,204		2,082
Gross decrease to tax positions related to the current year		—		—		—
Settlements		—		—		—
Lapse of statute of limitations		(4,055)		(16,124)		(645)
Uncertain tax benefits, end of year	$	28,967	$	33,425	$	47,637

As of December 31, 2022, the Company had $29.0 million of gross unrecognized tax benefits, of which $20.1 million, if fully recognized, would affect our effective tax rate. The timing of resolution for these liabilities is uncertain. The resolution of these items may result in additional or reduced income tax expense. Possible releases of liabilities due to expirations of statutes of limitations will have the effect of decreasing our income tax expense and the effective tax rate, if and when they occur. Although the timing of resolution and/or closure of tax audits cannot be predicted with certainty, the Company believes it is reasonably possible that approximately $11.8 million of its reserves for uncertain tax positions may be released in the next 12 months.

The Company recognizes interest and penalties related to liabilities for uncertain tax positions in income tax expense in the consolidated statements of operations. Interest and penalties were ($0.9) million, ($5.3) million, and $2.5 million for the years ended December 31, 2022, 2021, and 2020, respectively. The Company has recognized total accrued interest and penalties of approximately $12.4 million, $13.3 million, and $18.6 million as of December 31, 2022, 2021, and 2020, respectively, relating to uncertain tax positions.

The Company conducts business globally and, as a result, the Company and its subsidiaries file income tax returns in the U.S., including various states, and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. The tax years 2017 and forward are open for U.S. federal income tax matters. The tax years 2015 and forward are open for U.S. state income tax matters. With few exceptions, foreign tax filings are open for years 2012 and subsequent years. As of December 31, 2022, the Company is currently undergoing audit examinations for tax years 2005 through 2017 by the German Federal Ministry of Finance, for tax years 2015 through 2017 by the New York State Department of Taxation, for tax years 2012 through 2016 by the Canada Revenue Agency, for tax years 2015 through 2018 by the Ireland Tax Appeals Commission, and for tax year 2020 by the UK HM Revenue and Customs.

Deferred Taxes and Valuation Allowances — The Company follows authoritative guidance for accounting for income taxes, which requires the Company to reduce deferred tax by a valuation allowance if, based on the weight of all available positive and negative evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. After consideration of all available evidence for the realizability of U.S. deferred tax assets, the Company provided a valuation allowance of $126.7 million and $106.4 million for the years ended December 31, 2022 and December 31, 2021, respectively. In future periods, the Company will evaluate the positive and negative evidence available at the time in order to support its analysis for a valuation allowance, and as a result the Company may release its valuation allowance in part, or in total, when it becomes more likely than not that the deferred tax assets will be realized.

Deferred tax assets, liabilities and valuation allowance are as follows (in thousands):


	December 31,
	2022		2021
Deferred tax assets
Income tax attributes	$	225,831	$	204,531
Accrued liabilities and reserves		7,109		8,796
Operating lease liabilities		10,969		11,667
Prepaid expenses		—		6,483
Stock-based compensation expense		6,736		9,308
Other		1,656		1,150
Gross deferred tax assets		252,301		241,935
Less valuation allowance		(216,745)		(205,877)
Total deferred tax assets		35,556		36,058
Deferred tax liabilities
Amortization and depreciation		(43,556)		(39,167)
Operating lease assets		(9,139)		(10,512)
Prepaid expenses		(1,569)		—
Other		(10,095)		(2,081)
Net deferred tax liabilities, net of valuation allowance	$	(28,803)	$	(15,702)

The deferred tax assets at December 31, 2022, with respect to net operating loss carryforwards and expiration periods are as follows (in thousands):


	Deferred		Net Operating
	Tax		Loss
	Assets		Carryforwards
United States, expiring between 2024 and 2040	$	10,676	$	152,048
Foreign, expiring between 2022 and 2042		25,288		104,343
Foreign, indefinite		54,944		416,776
Total	$	90,908	$	673,167

The following is information pertaining to U.S. federal tax credits at December 31, 2022, as well as the expiration periods (in thousands):


	Tax
	Credits
United States, federal tax credit carryforwards:
Foreign tax credits, expiring between 2022 and 2032	$	42,540
Total	$	42,540

The components of our net deferred taxes at the reported balance sheet dates are primarily comprised of amounts relating to net operating loss carryforwards, accrued assets and liabilities, and depreciable and amortizable assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

RESTRUCTURING

12 Months Ended

Dec. 31, 2022

RESTRUCTURING

RESTRUCTURING

21.	RESTRUCTURING

The Company committed to certain restructuring actions intended to simplify the business and improve operational efficiencies, which have resulted in headcount reductions. The settlement of certain estimated and previously accrued employee termination costs resulted in a net credit to restructuring of $33.0 thousand and $475.0 thousand for the years ending December 31, 2022 and 2021 respectively. Restructuring costs were $9.1 million for the years ended December 31, 2020, composed of employee termination costs and lease loss. Substantially all of the expected charges related to these activities have been incurred during 2020 and 2019. The Company actively evaluates cost efficiencies and may make decisions in future periods to take further actions which could incur additional restructuring charges.

Accrued losses on leased properties and employee termination costs changed during the periods presented as follows (in thousands):


	Leased		Employee
	Property		Termination
	Losses		Costs		Total
Balance — December 31, 2019	$	2,958	$	7,857	$	10,815
Reduction of accrual due to net cash payments		(715)		(13,315)		(14,030)
Additional charges and adjustments		319		8,816		9,135
Accretion expense		259		—		259
Effects of fluctuations in foreign currency exchange rates		45		473		518
Balance — December 31, 2020		2,866		3,831		6,697
Reduction of accrual due to net cash payments		(901)		(2,946)		(3,847)
Additional charges and adjustments		131		(606)		(475)
Accretion expense		225		—		225
Effects of fluctuations in foreign currency exchange rates		(46)		(80)		(126)
Balance — December 31, 2021		2,275		199		2,474
Reduction of accrual due to net cash payments		—		(164)		(164)
Additional charges and adjustments		—		(33)		(33)
Effect of accounting change- adoption of ASC 842 (Note 2)		(2,275)		—		(2,275)
Effects of fluctuations in foreign currency exchange rates		—		(2)		(2)
Balance — December 31, 2022	$	—	$	—	$	—

Employee termination costs were settled in 2022. Upon adoption of ASC 842, the accrued losses on leased properties is now included in “Accrued expenses” and “Lease liabilities, non-current” on the Consolidated Balance Sheet for December 31, 2022. These liabilities will be satisfied over the remaining lease terms, which extend through 2026. The accrued restructuring costs as of December 31, 2021 were included in “Accrued expenses” and “Other long-term liabilities” on the Consolidated Balance Sheets.

SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2022

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT AND GEOGRAPHIC INFORMATION

22.	SEGMENT AND GEOGRAPHIC INFORMATION

As of December 31, 2022, 2021 and 2020, the Company identified one operating and reportable segment for purposes of allocating resources and evaluating financial performance. Asset information on a segment basis is not disclosed as this information is not separately identified or internally reported to the Company’s CODM.

Geographic Financial Information

The following represents the Company’s geographic revenue based on customer location (in thousands):


	December 31,
	2022		2021		2020
Americas	$	525,775	$	496,607	$	457,327
Europe, the Middle East, and Africa		293,673		317,435		270,701
Asia-Pacific		106,796		104,646		87,373
Total Revenues	$	926,244	$	918,688	$	815,401

Included in Americas is the United States, which comprises approximately 51.7%, 48.9% and 51.3% of total revenue for the years ended December 31, 2022, 2021 and 2020, respectively. Included in Europe, the Middle East, and Africa is the United Kingdom, which accounts for approximately 10.4%, 11.5% and 10.4% of total revenue for the years ended December 31, 2022, 2021 and 2020, respectively. No other country accounts for more than 10% of the Company’s revenue in any period presented.

The Company’s long-lived tangible assets were located as follows (in thousands):


	December 31,
	2022		2021
Americas	$	87,819	$	85,213
Europe, the Middle East, and Africa		83,928		85,307
Asia-Pacific		336		376
Total long-lived tangible assets	$	172,083	$	170,896

Included in Americas is the United States, which comprises 47.0% and 47.1% of total long-lived tangible assets as of December 31, 2022 and 2021, respectively. Included in Europe, the Middle East, and Africa is Ireland, which comprises 41.7% and 43.6% of total long-lived tangible assets as of December 31, 2022 and 2021, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

12 Months Ended

Dec. 31, 2022

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

23.	NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

The following table sets forth the computation of basic and diluted (loss) income per share of Class A Common Stock (amounts in thousands, except share and per share amounts):


	Year end December 31,
	2022		2021		2020
NET (LOSS) INCOME	$	(77,643)		117,397		(37,375)
Less:
Net (loss) income attributable to noncontrolling interest		(89)		329		(182)
Premium on early redemption of Redeemable Preferred Stock		26,678		—		—
Redeemable Preferred Stock dividend		43,218		71,393		64,120
NET (LOSS) INCOME ATTRIBUTABLE TO GETTY IMAGES HOLDINGS, INC. - Basic	$	(147,450)	$	45,675	$	(101,313)

Weighted-average Class A Common Stock outstanding:
Basic		276,942,660		196,084,650		196,082,503
Effect of dilutive securities		—		5,422,705		—
Diluted		276,942,660		201,507,355		196,082,503
Net (loss) income per share of Class A Common Stock attributable to Getty Images Holdings, Inc. common stockholders:
Basic	$	(0.53)	$	0.23	$	(0.52)
Diluted	$	(0.53)	$	0.23	$	(0.52)

The following are excluded from the computation of diluted net income per share of Class A Common Stock as their effect would have been anti-dilutive:


	December 31,
	2022	2021	2020
Common stock options	29,934,987	13,826,565	34,484,353
Restricted stock units	4,367,413	—	—
	34,302,400	13,826,565	34,484,353

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Principles

Basis of Presentation

Legacy Getty was determined to be the accounting acquirer based on the following predominant factors:

●Legacy Getty stockholders have the greatest voting interest in the Company with approximately 72% of the voting interest;

●Legacy Getty stockholders have the ability to nominate a majority of the initial members of the Company’s Board of Directors;

●Legacy Getty senior management is the senior management of the Company; and

●Legacy Getty was the larger entity based on historical operating activity and had the larger employee base.

Certain immaterial changes in presentation have been made to conform the prior period presentation to current period reporting.

Estimates and Assumptions

Principles of Consolidation

Noncontrolling Interest

Net (Loss) Income Per Share Attributable to Common Stockholders

Foreign Currencies

Derivative Instruments

Cash, Cash Equivalents and Restricted Cash

Cash, Cash Equivalents and Restricted Cash — The following represents the Company’s cash, cash equivalents and restricted cash as of December 31, 2022 and 2021 (in thousands):


	As of December 31,
	2022		2021
Cash and cash equivalents	$	97,912	$	186,301
Restricted cash		4,482		5,228
Total cash, cash equivalents and restricted cash	$	102,394	$	191,529

Restricted cash consists primarily of cash held as collateral related to corporate credit cards and real estate lease obligations.

Fair Value Measurements

Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

Contingent Consideration

Accounts Receivable-Net

Allowance for doubtful accounts changed as follows during the years presented (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning of year	$	5,946	$	7,773	$	7,843
Provision		1,465		750		2,002
Deductions		(951)		(2,577)		(2,072)
End of year	$	6,460	$	5,946	$	7,773

Deductions represent balances written off, net of amounts recovered that had previously been written off, and the effect of exchange rate fluctuations.

Property and Equipment-Net

Minority Investment without Readily Determinable Fair Value

Goodwill

Identifiable Intangible Assets

Loans Receivable

Restructuring Costs

Leases

Deferred Offering Costs

Related-Party Transactions

Revenue Recognition

See “Note 14 — Revenue” and “Note 22 — Segment and Geographic Information” for additional revenue disclosures.

Cost of Revenue

Sales Commissions

Equity-Based Compensation

Common Stock Warrants

As described in “Note 5 — Common Stock Warrants”, during the year ended December 31, 2022, all Warrants were exercised or redeemed.

Advertising and Marketing

Income Taxes

Segments

Concentration of Credit Risk

Recently Adopted Accounting Standard Updates

Subsequent Events

Subsequent Events — The Company evaluated subsequent events and transactions for potential recognition or disclosure in the consolidated financial statements through March 13, 2023.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of cash, cash equivalents and restricted cash

The following represents the Company’s cash, cash equivalents and restricted cash as of December 31, 2022 and 2021 (in thousands):


	As of December 31,
	2022		2021
Cash and cash equivalents	$	97,912	$	186,301
Restricted cash		4,482		5,228
Total cash, cash equivalents and restricted cash	$	102,394	$	191,529

Schedule of allowance for doubtful accounts

Allowance for doubtful accounts changed as follows during the years presented (in thousands):


	Year Ended December 31,
	2022		2021		2020
Beginning of year	$	5,946	$	7,773	$	7,843
Provision		1,465		750		2,002
Deductions		(951)		(2,577)		(2,072)
End of year	$	6,460	$	5,946	$	7,773

BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2022

BUSINESS COMBINATION

Schedule of reconciliation of elements of the Business Combination to the Consolidated Statement of Cash Flows and the Consolidated Statements of Redeemable Preferred Stock and Stockholders' Equity (Deficit)


Cash – CCNB trust and cash, net of redemptions	$	4,164
Cash – PIPE Financing		360,000
Cash – Forward Purchase Agreement		200,000
Cash – Backstop Agreement		300,000
Less: Cash paid to redeem Redeemable Preferred Stock		(614,996)
Less: Transaction costs paid during the year ended December 31, 2022		(106,917)
Net cash contributions from the Business Combination and related transactions	$	142,251
Add: Non-cash assets received from CCNB		806
Add: Transaction costs allocated to warrants		4,262
Add: Cash paid to redeem Redeemable Preferred Stock		614,996
Add: Tax effect of change in tax basis due to business combination		6,508
Less: Fair value of Public, Private Placement and Forward Purchase Warrants		(72,374)
Less: Transaction costs previously paid by Legacy Getty during 2021 or accrued at December 31, 2022		(1,989)
Net Business Combination and related transactions, excluding Redeemable Preferred Stock redemption	$	694,460
Add: Fair value of Class A common stock issued to redeem Redeemable Preferred Stock		140,250
Net Business Combination and related transactions, including Redeemable Preferred Stock redemption	$	834,710

Schedule of number of shares of common stock issued immediately following the consummation of the Business Combination


Common stock of CCNB, net of redemptions		508,311
CCNB shares held by the Sponsor		25,700,000
Shares issued in the PIPE Financing		36,000,000
Shares issued in the Forward Purchase Agreement		20,000,000
Shares issued in the Backstop Agreement		30,000,000
Total shares issued in Business Combination and related transactions		112,208,311
Shares issued for Getty Images common stock		196,938,915
Shares issued upon redemption of Getty Images Redeemable Preferred Stock		15,000,000
Total shares of common stock immediately following the Business Combination		324,147,226

ACQUISITION (Tables)

12 Months Ended

Dec. 31, 2022

ACQUISITION

Summary of components of the fair value of consideration transferred

The components of the fair value of consideration transferred are as follows (in thousands):


Cash	$	95,418
Contingent Consideration		13,200
Total fair value of consideration transferred	$	108,618

Summary of aggregate purchase price allocated to assets acquired and liabilities assumed

The aggregate purchase price was allocated to the assets acquired and liabilities assumed as follows (in thousands):


	Fair Value at
Assets acquired and liabilities assumed:	Acquisition Date
Cash and cash equivalents	$	6,213
Accounts receivable		1,061
Other current assets		736
Prepaid expenses		118
Property and equipment		1,729
Other long term assets		306
Identifiable intangible assets		23,900
Goodwill		75,782
Total assets acquired	$	109,845
Accounts payable and accrued expenses		(128)
Deferred income tax liability		(1,099)
Total liabilities assumed		(1,227)
Net assets acquired	$	108,618

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

DERIVATIVE INSTRUMENTS

Schedule of fair value amounts of derivative instruments

The following table summarizes the location and fair value amounts of derivative instruments reported in the Consolidated Balance Sheets (in thousands):


	As of December 31,
	2022				2021
	Asset		Liability		Asset		Liability
Derivatives not designated as hedging instruments:
Interest rate swaps	$	9,032	$	—	$	—	$	13,759
Foreign currency exchange options		—		—		804		—
Total derivatives	$	9,032	$	—	$	804	$	13,759

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of financial instrument assets recorded at fair value

Financial instrument assets recorded at fair value as of December 31 are as follows (in thousands):


	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
Money market funds (cash equivalents)	$	20,462	$	—	$	—	$	20,462
Derivative assets:
Interest rate swaps		—		9,032		—		9,032
	$	20,462	$	9,032	$	—	$	29,494


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Money market funds (cash equivalents)	$	30,096	$	—	$	—	$	30,096
Derivative assets:
Foreign currency exchange options		—		804		—		804
	$	30,096	$	804	$	—	$	30,900

Schedule of financial instrument liabilities recorded or disclosed at fair value

Financial instrument liabilities recorded or disclosed at fair value as of December 31 are as follows (in thousands):


	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
Term Loans	$	—	$	1,112,990	$	—	$	1,112,990
Senior Notes		—		297,354		—		297,354
	$	—	$	1,410,344	$	—	$	1,410,344


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Term Loans	$	—	$	1,475,759	$	—	$	1,475,759
Senior Notes		—		318,375		—		318,375
Contingent Consideration		—		—		14,039		14,039
Derivative liabilities:
Interest Rate Swap Contracts		—		13,759		—		13,759
	$	—	$	1,807,893	$	14,039	$	1,821,932

Schedule of quantitative information associated with the fair value measurements of Company's Level 3 inputs


	Fair Value as of
	December 31, 2022		Valuation
	(in thousands)		Technique	Unobservable Input	Range
Contingent Consideration	$	—	Probability-adjusted discounted cash flow	Probabilities of success	—	%
				Years until milestone is expected to be achieved	1.57	years
				Discount rate	9.94	%

Schedule of changes in the fair value of the contingent consideration

The following table presents changes in the fair value of the Contingent Consideration for the years ended December 31 (in thousands):


	Year end December 31,
	2022		2021
Balance, beginning of period	$	14,039	$	—
Issuance of Contingent Consideration in connection with acquisition		—		13,200
Payment		(10,000)		—
Change in fair value of Contingent Consideration		(4,039)		839
Balance, end of period	$	—	$	14,039

The following table presents the change in the fair value of the Private Placement Warrants for the year ended December 31, 2022 (in thousands):


	Year end December 31,
	2022
Balance, beginning of period	$	—
Assumed in Business Combination (Note 3)		56,237
Change in fair value		176,616
Exercise		(232,853)
Balance, end of period	$	—

PROPERTY AND EQUIPMENT - NET (Tables)

12 Months Ended

Dec. 31, 2022

PROPERTY AND EQUIPMENT - NET

Schedule of property and equipment reported as of balance sheet dates

Property and equipment consisted of the following at the reported Balance Sheet dates (in thousands, except years):


	Estimated
	Useful
	Lives	December 31,
	(in Years)	2022		2021
Contemporary imagery	5	$	377,858	$	379,837
Computer hardware purchased	3		6,783		5,639
Computer software developed for internal use	3		119,516		114,434
Leasehold improvements	2 – 20		8,361		11,459
Furniture, fixtures and studio equipment	5		10,856		15,167
Archival imagery	40		94,043		97,547
Other	3 – 4		2,352		2,439
Property and equipment			619,769		626,522
Less: accumulated depreciation			(447,686)		(455,626)
Property and equipment, net		$	172,083	$	170,896

GOODWILL (Tables)

12 Months Ended

Dec. 31, 2022

GOODWILL.

Schedule of changes in goodwill

Goodwill changed during the years presented as follows (in thousands):


	Goodwill		Accumulated
	before		impairment
	impairment		charge		Goodwill – net
December 31, 2020	$	1,955,837	$	(525,000)	$	1,430,837
Effects of fluctuations in foreign currency exchange rates		(3,374)		—		(3,374)
Goodwill related to acquisition		75,782		—		75,782
December 31, 2021	$	2,028,245	$	(525,000)	$	1,503,245
Effects of fluctuations in foreign currency exchange rates		(3,667)		—		(3,667)
December 31, 2022	$	2,024,578	$	(525,000)	$	1,499,578

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

IDENTIFIABLE INTANGIBLE ASSETS - NET (Tables)

12 Months Ended

Dec. 31, 2022

IDENTIFIABLE INTANGIBLE ASSETS - NET

Schedule of identifiable intangible assets

Identifiable intangible assets consisted of the following at December 31 (in thousands, except years):


		As of December 31, 2022
		2022						2021
	Range of
	Estimated
	Useful Lives	Gross		Accumulated		Net		Gross		Accumulated			Net
	(Years)	Amount		Amortization		Amount		Amount		Amortization			Amount
Trade name	Indefinite	$	389,484	$	—	$	389,484	$	402,581	$	—	$	402,581
Trademarks and trade names	5 – 10		104,053		(104,026)		27		104,174		(96,041)		8,133
Patented and unpatented technology	3 – 10		109,275		(103,419)		5,856		112,288		(97,818)		14,470
Customer lists, contracts, and relationships	5 – 11		391,454		(367,273)		24,181		404,421		(350,997)		53,424
Non-compete Covenant	3		900		(900)		—		900		(811)		89
Other identifiable intangible assets	3 – 13		5,059		(5,059)		—		7,110		(6,955)		155
		$	1,000,225	$	(580,677)	$	419,548	$	1,031,474	$	(552,622)	$	478,852

Schedule of the estimated aggregate amortization expense for identifiable intangible assets for the next five years

Based on balances at December 31, 2022, the estimated aggregate amortization expense for identifiable intangible assets for the next five years is as follows (in thousands):


Fiscal Years Ended
December 31,
2023	$	23,892
2024	$	2,092
2025	$	2,083
2026	$	729
2027	$	279

OTHER ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

OTHER ASSETS AND LIABILITIES

Schedule of other long-term assets at the reported balance sheet dates

Other long-term assets consisted of the following at the reported Balance Sheet dates (in thousands):


	Year end December 31,
	2022		2021
Long term note receivable from a related party (Note 2)	$	24,000	$	24,000
Minority and other investments		12,097		10,621
Derivative asset (Note 7)		9,032		—
Tax receivable (Note 13)		2,700		3,300
Equity method investment		2,064		1,207
Long term deposits		1,609		1,754
Other		450		210
	$	51,952	$	41,092

Schedule of accrued expenses at the reported balance sheet dates

Accrued expenses at the reported Balance Sheet dates are summarized below (in thousands):


	Year end December 31,
	2022		2021
Accrued compensation and related costs	$	23,851	$	38,232
Lease liabilities		10,094		—
Interest payable		9,993		9,750
Accrued professional fees		4,334		5,198
Accrued contingent consideration		—		9,456
Accrued restructuring		—		1,033
Derivative liabilities		—		686
Other		1,055		2,214
	$	49,327	$	66,569

Schedule of other long-term liabilities at the reported balance sheet dates

Other long-term liabilities consisted of the following at the reported Balance Sheet dates (in thousands):


	Year end December 31,
	2022		2021
Deferred revenue (net of current portion)	$	3,167	$	3,387
Derivative liabilities (net of current portion)		—		13,073
Accrued Contingent Consideration (net of current portion)		—		4,583
Deferred rent (net of current portion)		—		3,370
Accrued restructuring (net of current portion)		—		1,441
Other		—		1,107
	$	3,167	$	26,961

DEBT (Tables)

12 Months Ended

Dec. 31, 2022

DEBT

Schedule of components of debt

Debt included the following (in thousands):


	Year end December 31,
	2022		2021
Senior Notes	$	300,000	$	300,000
USD Term Loans		687,400		997,800
EUR Term Loans		446,996		473,798
Less: issuance costs and discounts amortized to interest expense		(5,549)		(14,127)
Less: short-term debt – net		—		(6,481)
Long-term debt – net	$	1,428,847	$	1,750,990

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2022

COMMITMENTS AND CONTINGENCIES

Schedule of future minimum payments under debt obligations, non-cancelable operating leases and other purchase obligations


	Years ended December 31,
	2023		2024		2025		2026		2027		Thereafter		Total
USD Term Loans and EUR Term loans:
Principal payments	$	—	$	—	$	—	$	1,134,396	$	—	$	—	$	1,134,396
Interest payments⁽¹⁾		102,271		98,269		89,838		12,303		—		—		302,681
Senior Notes:
Principal payments		—		—		—		—		300,000		—		300,000
Interest payments		29,250		29,250		29,250		29,250		14,625		—		131,625
Revolver commitment fee		404		69		—		—		—		—		473
Operating lease payments on facilities leases		13,592		12,221		11,824		6,951		6,019		20,599		71,206
Minimum royalty guarantee payments to content suppliers		39,607		37,515		36,117		18,932		9,038		17,044		158,253
Technology purchase commitments		4,826		2,817		2,045		27		—		—		9,715
Other commitments		2,796		244		255		—		—		—		3,295
Total commitments	$	192,746	$	180,385	$	169,329	$	1,201,859	$	329,682	$	37,643	$	2,111,644

(1)	These are estimated payments based on interest rate curves valued as of December 31, 2022. Rates used for the EUR Term Loans are 8.1% for 2023, 8.4% for 2024, 7.8% for 2025 and 7.9% for 2026. Rates used for the USD Term Loans are 9.4% for 2023, 8.6% for 2024, 7.8% for 2025 and 7.7% for 2026.

REVENUE (Tables)

12 Months Ended

Dec. 31, 2022

REVENUE

Summary of revenue by product


	Year Ended December 31,
	2022		2021		2020
Creative Stills	$	585,400	$	596,917	$	532,732
Editorial Stills		325,770		306,631		266,699
Other		15,074		15,140		15,970
Total Revenue	$	926,244	$	918,688	$	815,401

EQUITY-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

EQUITY-BASED COMPENSATION

Schedule of award activity


		Weighted		Remaining
	Number	Average		Average
	of	Exercise		Contractual
	awards	Price		Life (in Years)
Outstanding – December 31, 2021 (1)	26,271	$	3.98	5.87
Retroactive application of recapitalization	7,331	$	(0.87)	—
Outstanding – December 31, 2021, after effect of recapitalization (Note 3)	33,602	$	3.11	5.87
Granted	978		6.18
Exercised	(2,959)		4.36
Pre-vesting forfeitures	(1,659)		3.32
Post-vesting cancellations	(27)		2.77
Outstanding – December 31, 2022	29,935		3.08	5.85

Exercisable – December 31, 2022	26,412	$	3.01	5.62
Vested and expected to vest after December 31, 2022	29,863	$	3.08	5.85

(1)	Excludes 3,635 non-stock option equity awards that were outstanding under the Legacy Getty 2012 Plan, which were converted to Class A Common Stock upon closing of the Business Combination.

Summary of intrinsic value of stock options


	December 31,
	2022		2021
Stock options outstanding	$	75,888	$	12,794
Stock options exercisable	$	68,431	$	9,254
Stock options vested and expected to vest	$	75,704	$	12,641

Schedule of assumptions to estimate for fair value of awards


	Year Ended December 31,
	2022			2021			2020
Weighted average grant date fair value per award	$	3.17		$	1.19		$	1.22
Valuation model used		Black-Scholes			Black-Scholes			Black-Scholes
Expected award price volatility		50	%		35	%		50	%
Risk-free rate of return		4.15	%		1.15	%		1.08	%
Expected life of awards		5.7 years			6.1 years			6.1 years
Expected rate of dividends		None			None			None

Summary of RSU activity


	Number
	of	Weighted Average
	awards	Grant-Date Fair Value
Outstanding — December 31, 2021	—
Granted	4,368	$	5.58
Vested	—
Cancelled	(1)	$	5.60
Outstanding - December 31, 2022	4,367	$	5.58

LEASES (Tables)

12 Months Ended

Dec. 31, 2022

LEASES

Summary of information related to company's leases

Additional information related to the Company’s leases as of and for the years ended December 31, 2022, is as follows (in thousands, except for the lease term and discount rate):


	As of December 31, 2022
Right of use asset	$	47,231

Lease liabilities, current		10,094
Lease liabilities, non-current		46,218
Total lease liabilities	$	56,312

Weighted average remaining lease term		6.3 years
Weighted average discount rate		5.6	%

Cash paid for amounts included in lease liabilities	$	14,150
Right of use asset obtained in exchange for lease obligation upon adoption	$	53,076
Right of use asset obtained in exchange for lease obligations	$	6,050

Schedule of maturities of lease liabilities

Maturities of lease liabilities as of December 31, 2022 were as follows (in thousands):



Year ended December 31,
2023	$	12,978
2024		12,244
2025		11,988
2026		6,592
2027		5,456
Thereafter		18,659
Total undiscounted lease payments		67,917
Less: imputed interest		(11,605)
Total lease liabilities	$	56,312

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES

Summary of components of income (loss) before income taxes

The components of income (loss) before income taxes are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
United States	$	(95,489)	$	104,984	$	(27,823)
Foreign		61,972		31,142		(36)
Income (loss) before income taxes	$	(33,517)	$	136,126	$	(27,859)

Summary of components of income tax expense (benefit)

The components of income tax expense (benefit) are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Current:
United States	$	20,652	$	22,321	$	8,854
Foreign		9,487		(7,756)		12,095
Total current income tax expense (benefit)		30,139		14,565		20,949
Deferred:
United States		13,356		4,698		(13,227)
Foreign		631		(534)		1,794
Total deferred income tax expense (benefit)		13,987		4,164		(11,433)
Total provision for income tax expense	$	44,126	$	18,729	$	9,516

Summary of difference between income taxes computed at the U.S. federal statutory rate and the effective income tax rate

The items accounting for the difference between income taxes computed at the U.S. federal statutory rate and the effective income tax rate are as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Federal income tax expense (benefit) at the statutory rate	$	(7,039)	$	28,586	$	(5,849)
Effect of:
State taxes, net of federal benefit		(3,092)		3,632		643
Tax impact of foreign earnings and losses		11,453		(10,171)		3,644
Stock-based compensation		2,230		236		169
Nondeductible net loss on fair value adjustment for warrant liabilities		34,659		—		—
Valuation allowance		12,223		1,532		13,763
Tax credits		(6,852)		(5,030)		(3,213)
Other, net		544		(56)		359
Income tax expense (benefit)	$	44,126	$	18,729	$	9,516

Summary of reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):


	Year Ended December 31,
	2022		2021		2020
Uncertain tax benefits, beginning of year	$	33,425	$	47,637	$	45,003
Gross increase to tax positions related to prior years		31		121		1,239
Gross decrease to tax positions related to prior years		(1,109)		(413)		(42)
Gross increase to tax positions related to the current year		675		2,204		2,082
Gross decrease to tax positions related to the current year		—		—		—
Settlements		—		—		—
Lapse of statute of limitations		(4,055)		(16,124)		(645)
Uncertain tax benefits, end of year	$	28,967	$	33,425	$	47,637

Summary of deferred tax assets, liabilities and valuation allowance

Deferred tax assets, liabilities and valuation allowance are as follows (in thousands):


	December 31,
	2022		2021
Deferred tax assets
Income tax attributes	$	225,831	$	204,531
Accrued liabilities and reserves		7,109		8,796
Operating lease liabilities		10,969		11,667
Prepaid expenses		—		6,483
Stock-based compensation expense		6,736		9,308
Other		1,656		1,150
Gross deferred tax assets		252,301		241,935
Less valuation allowance		(216,745)		(205,877)
Total deferred tax assets		35,556		36,058
Deferred tax liabilities
Amortization and depreciation		(43,556)		(39,167)
Operating lease assets		(9,139)		(10,512)
Prepaid expenses		(1,569)		—
Other		(10,095)		(2,081)
Net deferred tax liabilities, net of valuation allowance	$	(28,803)	$	(15,702)

Summary of deferred tax assets with respect to net operating loss carryforwards and expiration periods

The deferred tax assets at December 31, 2022, with respect to net operating loss carryforwards and expiration periods are as follows (in thousands):


	Deferred		Net Operating
	Tax		Loss
	Assets		Carryforwards
United States, expiring between 2024 and 2040	$	10,676	$	152,048
Foreign, expiring between 2022 and 2042		25,288		104,343
Foreign, indefinite		54,944		416,776
Total	$	90,908	$	673,167

Summary of U.S. federal tax credits as well as the expiration periods

The following is information pertaining to U.S. federal tax credits at December 31, 2022, as well as the expiration periods (in thousands):


	Tax
	Credits
United States, federal tax credit carryforwards:
Foreign tax credits, expiring between 2022 and 2032	$	42,540
Total	$	42,540

RESTRUCTURING (Tables)

12 Months Ended

Dec. 31, 2022

RESTRUCTURING

Summary of accrued losses on leased properties and employee termination costs changed during the periods

Accrued losses on leased properties and employee termination costs changed during the periods presented as follows (in thousands):


	Leased		Employee
	Property		Termination
	Losses		Costs		Total
Balance — December 31, 2019	$	2,958	$	7,857	$	10,815
Reduction of accrual due to net cash payments		(715)		(13,315)		(14,030)
Additional charges and adjustments		319		8,816		9,135
Accretion expense		259		—		259
Effects of fluctuations in foreign currency exchange rates		45		473		518
Balance — December 31, 2020		2,866		3,831		6,697
Reduction of accrual due to net cash payments		(901)		(2,946)		(3,847)
Additional charges and adjustments		131		(606)		(475)
Accretion expense		225		—		225
Effects of fluctuations in foreign currency exchange rates		(46)		(80)		(126)
Balance — December 31, 2021		2,275		199		2,474
Reduction of accrual due to net cash payments		—		(164)		(164)
Additional charges and adjustments		—		(33)		(33)
Effect of accounting change- adoption of ASC 842 (Note 2)		(2,275)		—		(2,275)
Effects of fluctuations in foreign currency exchange rates		—		(2)		(2)
Balance — December 31, 2022	$	—	$	—	$	—

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

SEGMENT AND GEOGRAPHIC INFORMATION

Schedule of geographic revenue based on customer location

The following represents the Company’s geographic revenue based on customer location (in thousands):


	December 31,
	2022		2021		2020
Americas	$	525,775	$	496,607	$	457,327
Europe, the Middle East, and Africa		293,673		317,435		270,701
Asia-Pacific		106,796		104,646		87,373
Total Revenues	$	926,244	$	918,688	$	815,401

Schedule of long-lived assets by geographic location

The Company’s long-lived tangible assets were located as follows (in thousands):


	December 31,
	2022		2021
Americas	$	87,819	$	85,213
Europe, the Middle East, and Africa		83,928		85,307
Asia-Pacific		336		376
Total long-lived tangible assets	$	172,083	$	170,896

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Tables)

12 Months Ended

Dec. 31, 2022

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

Schedule of computation of basic and diluted (loss) income per share of Class A common stock

The following table sets forth the computation of basic and diluted (loss) income per share of Class A Common Stock (amounts in thousands, except share and per share amounts):


	Year end December 31,
	2022		2021		2020
NET (LOSS) INCOME	$	(77,643)		117,397		(37,375)
Less:
Net (loss) income attributable to noncontrolling interest		(89)		329		(182)
Premium on early redemption of Redeemable Preferred Stock		26,678		—		—
Redeemable Preferred Stock dividend		43,218		71,393		64,120
NET (LOSS) INCOME ATTRIBUTABLE TO GETTY IMAGES HOLDINGS, INC. - Basic	$	(147,450)	$	45,675	$	(101,313)

Weighted-average Class A Common Stock outstanding:
Basic		276,942,660		196,084,650		196,082,503
Effect of dilutive securities		—		5,422,705		—
Diluted		276,942,660		201,507,355		196,082,503
Net (loss) income per share of Class A Common Stock attributable to Getty Images Holdings, Inc. common stockholders:
Basic	$	(0.53)	$	0.23	$	(0.52)
Diluted	$	(0.53)	$	0.23	$	(0.52)

Schedule of antidilutive securities excluded from computation of earnings per share


	December 31,
	2022	2021	2020
Common stock options	29,934,987	13,826,565	34,484,353
Restricted stock units	4,367,413	—	—
	34,302,400	13,826,565	34,484,353

DESCRIPTION OF THE BUSINESS (Details) $ in Millions	12 Months Ended
DESCRIPTION OF THE BUSINESS (Details) $ in Millions	Dec. 31, 2022 USD ($)
Getty Images Holdings, Inc
DESCRIPTION OF THE BUSINESS
Assets industry leading sites	$ 520

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2022	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Exchange ratio used for restating the shares, capital amounts and earnings per share	1.27905
Other long-term assets	$ 51,952	$ 41,092
Estimated operating lease liabilities	56,312			$ 61,300
Bad debt recoveries	6,460	5,946	$ 7,773		$ 7,843
Accounts receivable - net of allowance	6,460	5,946	7,773		$ 7,843
Right of use asset	47,231			53,100
Deferred Rent		8,300		$ 8,300
Deferred Offering Costs	0	3,900
Net foreign currency transaction gain (loss)	$ 24,600	36,400	$ 45,100
Public Warrants
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of warrants issued during the period	20,700,000
Warrants outstanding	0
Private Placement Warrants
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of warrants issued during the period	18,560,000
Forward Purchase Warrants
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of warrants issued during the period	3,750,000
Number of shares entitled by each warrant	1
Exercise price	$ 11.50
Getty SEA
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Ownership percentage by parent	50.00%
Ownership percentage by non-controlling stockholder's interest	50.00%
Noncontrolling Interest
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cost of investment	$ 2,000
Other long-term assets	$ 9,600	$ 8,100
Getty Images Holdings, Inc
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Percentage of equity interest	72.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash and cash equivalents	$ 97,912	$ 186,301
Restricted cash	4,482	5,228
Total cash, cash equivalents and restricted cash	$ 102,394	$ 191,529	$ 161,309	$ 118,228

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance for doubtful accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Beginning of year	$ 5,946	$ 7,773	$ 7,843
Provision	1,465	750	2,002
Deductions	(951)	(2,577)	(2,072)
End of year	$ 6,460	$ 5,946	$ 7,773

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Related-Party Transactions (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 15, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Unsecured note receivable		$ 24,000	$ 24,000
Getty Investments, LLC
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Annual management fees		$ 900	$ 1,500	$ 1,300
Getty SEA
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Unsecured note receivable	$ 24,000
Note receivable, interest rate	2.50%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Minimum
Concentration Risk
Percentage of license fee earned and retained	50.00%
Minimum \| Delegates concentration risk
Concentration Risk
Percentage of license fee earned and retained	35.00%
Minimum \| Cost of Revenue \| Supplier concentration risk
Concentration Risk
Total revenues (as a percent)	20.00%
Concentration risk percentage	20.00%
Maximum
Concentration Risk
Percentage of license fee earned and retained	65.00%
Maximum \| Delegates concentration risk
Concentration Risk
Percentage of license fee earned and retained	50.00%
Maximum \| Cost of Revenue \| Supplier concentration risk
Concentration Risk
Total revenues (as a percent)	50.00%
Concentration risk percentage	50.00%
Third-party delegates \| Revenue \| Delegates concentration risk
Concentration Risk
Total revenues (as a percent)	3.00%	3.00%	3.00%
Concentration risk percentage	3.00%	3.00%	3.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity-Based Compensation (Details) $ in Millions		12 Months Ended
	Apr. 01, 2021 segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Service period of equity-based compensation		4 years
Advertising and marketing costs \| $		$ 55.8	$ 53.7	$ 49.0
Number of operating segment \| segment	1	1

BUSINESS COMBINATION - Business Combination to the Consolidated Statement of Cash Flows and the Consolidated Statements of Redeemable Preferred Stock and Stockholders Equity (Deficit) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Reconciliation of the elements of the Business Combination to the Condensed Consolidated Statement of Cash Flows and the Condensed Consolidated Statements of Redeemable Preferred Stock and Stockholders' Equity (Deficit)
Cash Inflow From Contributions of Business Combination	$ 864,164
Add: Cash paid to redeem Redeemable Preferred Stock	614,996
CC Neuberger Principal Holdings II ("CCNB")
Reconciliation of the elements of the Business Combination to the Condensed Consolidated Statement of Cash Flows and the Condensed Consolidated Statements of Redeemable Preferred Stock and Stockholders' Equity (Deficit)
Cash - CCNB trust and cash, net of redemptions	4,164
Less: Cash paid to redeem Redeemable Preferred Stock	(614,996)
Less: Transaction costs paid during the year ended December 31, 2022	(106,917)
Net cash contributions from the Business Combination and related transactions	142,251
Add: Non-cash assets received from CCNB	806
Add: Transaction costs allocated to warrants	4,262
Add: Cash paid to redeem Redeemable Preferred Stock	614,996
Add: Tax effect of change in tax basis due to business combination	6,508
Less: Fair value of Public, Private Placement and Forward Purchase Warrants	(72,374)
Less: Transaction costs previously paid by Legacy Getty during 2021 or accrued at December 31, 2022	(1,989)
Net Business Combination and related transactions, excluding Redeemable Preferred Stock redemption	694,460
Add: Fair value of Class A common stock issued to redeem Redeemable Preferred Stock	140,250
Net Business Combination and related transactions, including Redeemable Preferred Stock redemption	834,710
CC Neuberger Principal Holdings II ("CCNB") \| PIPE Subscription Agreements
Reconciliation of the elements of the Business Combination to the Condensed Consolidated Statement of Cash Flows and the Condensed Consolidated Statements of Redeemable Preferred Stock and Stockholders' Equity (Deficit)
Cash Inflow From Contributions of Business Combination	360,000
CC Neuberger Principal Holdings II ("CCNB") \| Forward Purchase Agreement
Reconciliation of the elements of the Business Combination to the Condensed Consolidated Statement of Cash Flows and the Condensed Consolidated Statements of Redeemable Preferred Stock and Stockholders' Equity (Deficit)
Cash Inflow From Contributions of Business Combination	200,000
CC Neuberger Principal Holdings II ("CCNB") \| Backstop Facility Agreement
Reconciliation of the elements of the Business Combination to the Condensed Consolidated Statement of Cash Flows and the Condensed Consolidated Statements of Redeemable Preferred Stock and Stockholders' Equity (Deficit)
Cash Inflow From Contributions of Business Combination	$ 300,000

BUSINESS COMBINATION - Number of shares of common stock issued immediately (Details) - shares		12 Months Ended
	Jul. 22, 2022	Dec. 31, 2022
BUSINESS COMBINATION
Common stock of CCNB, net of redemptions		508,311
CCNB shares held by the Sponsor		25,700,000
Total shares issued in Business Combination and related transactions		112,208,311
PIPE Subscription Agreements
BUSINESS COMBINATION
Shares issued		36,000,000
Forward Purchase Agreement
BUSINESS COMBINATION
Shares issued	3,750,000	20,000,000
Backstop Facility Agreement
BUSINESS COMBINATION
Shares issued		30,000,000
Legacy Getty Images
BUSINESS COMBINATION
Total shares of common stock immediately following the Business Combination		324,147,226
Legacy Getty Images \| Common Stock holders
BUSINESS COMBINATION
Total shares of common stock immediately following the Business Combination		196,938,915
Legacy Getty Images \| Redeemable Preferred Stock holders
BUSINESS COMBINATION
Total shares of common stock immediately following the Business Combination		15,000,000

BUSINESS COMBINATION - Additional Information (Details)		12 Months Ended
BUSINESS COMBINATION - Additional Information (Details)	Jul. 22, 2022 USD ($) tranche D $ / shares shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)
BUSINESS COMBINATION
Purchase price per share \| $ / shares	$ 0.0001
Total number of authorized shares	2,006,140,000
Par value per share \| $ / shares	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000.0	1,000,000.0
Goodwill \| $		$ 1,499,578,000	$ 1,503,245,000	$ 1,430,837,000
Sponsor side letter
BUSINESS COMBINATION
Number of CCNB Class B common stock agreed to convert to Restricted Sponsor Shares	5,140,000
Stock conversion, VWAP trigger, Number of trading days \| D	20
Stock conversion, VWAP trigger, Number of consecutive trading days \| D	30
PIPE Subscription Agreements
BUSINESS COMBINATION
Number of shares issued		36,000,000
Forward Purchase Agreement
BUSINESS COMBINATION
Number of shares issued	3,750,000	20,000,000
Aggregate gross proceeds \| $	$ 200,000,000.0
Backstop Facility Agreement
BUSINESS COMBINATION
Number of shares issued		30,000,000
Class A common stock
BUSINESS COMBINATION
Common stock, shares authorized	2,000,000,000	2,000,000,000.0	2,000,000,000.0
Common stock, shares, issued		394,800,000	196,100,000
Class A common stock \| PIPE Subscription Agreements
BUSINESS COMBINATION
Number of shares issued	36,000,000
Purchase price per share \| $ / shares	$ 10.00
Aggregate gross proceeds \| $	$ 360,000,000.0
Class A common stock \| Forward Purchase Agreement
BUSINESS COMBINATION
Number of shares issued	20,000,000
Class A common stock \| Backstop Facility Agreement
BUSINESS COMBINATION
Number of shares issued	30,000,000
Purchase price per share \| $ / shares	$ 10.00
Aggregate gross proceeds \| $	$ 300,000,000.0
Class B common stock
BUSINESS COMBINATION
Common stock, shares authorized	5,140,000	5,100,000	5,100,000
Common stock, shares, issued		0	0
Series B-1 Common Stock \| Sponsor side letter
BUSINESS COMBINATION
Number of Restricted Sponsor shares into which Sponsor Shares are to be converted into	2,570,000
Stock conversion, VWAP trigger \| $ / shares	$ 12.50
Series B-2 Common Stock \| Sponsor side letter
BUSINESS COMBINATION
Number of Restricted Sponsor shares into which Sponsor Shares are to be converted into	2,570,000
Stock conversion, VWAP trigger \| $ / shares	$ 15.00
Common Stock holders \| Series B-1 Common Stock \| Sponsor side letter
BUSINESS COMBINATION
Stock conversion, VWAP trigger \| $ / shares	12.50
Common Stock holders \| Series B-2 Common Stock \| Sponsor side letter
BUSINESS COMBINATION
Stock conversion, VWAP trigger \| $ / shares	$ 15.00
Legacy Getty Images
BUSINESS COMBINATION
Consideration in shares		324,147,226
Earn-Out milestones, Number of consecutive trading days for VWAP trigger \| D	30
Legacy Getty Images \| Business Combination Agreement
BUSINESS COMBINATION
Earn-Out period	10 years
Number of business days after the occurrence of an applicable triggering event for issuance of Earn-Out Shares to former equity holders of Legacy Getty Images \| D	10
Maximum number of Earn-Out shares issuable to former equity holders of Legacy Getty Images	59,000,000
Number of tranches for issuance of Earn-Out Shares to former equity holders of Legacy Getty Images \| tranche	3
Earn-Out milestones, number of trading days for VWAP trigger \| D	20
Legacy Getty Images \| Business Combination Agreement \| Earn-Out Tranche I
BUSINESS COMBINATION
Threshold VWAP trigger for Earn-Out milestones \| $ / shares	$ 12.50
Legacy Getty Images \| Business Combination Agreement \| Earn-Out Tranche II
BUSINESS COMBINATION
Threshold VWAP trigger for Earn-Out milestones \| $ / shares	15.00
Legacy Getty Images \| Business Combination Agreement \| Earn-Out Tranche III
BUSINESS COMBINATION
Threshold VWAP trigger for Earn-Out milestones \| $ / shares	$ 17.50
Legacy Getty Images \| Common Stock holders
BUSINESS COMBINATION
Number of shares held by shareholder	153,322,880
Consideration in shares		196,938,915
Legacy Getty Images \| Common Stock holders \| Class A common stock
BUSINESS COMBINATION
Consideration in shares	196,938,915
Legacy Getty Images \| Common Stock holders \| Class A common stock \| Business Combination Agreement \| Earn-Out Tranche I
BUSINESS COMBINATION
Threshold VWAP trigger for Earn-Out milestones \| $ / shares	$ 12.50
Legacy Getty Images \| Common Stock holders \| Class A common stock \| Business Combination Agreement \| Earn-Out Tranche II
BUSINESS COMBINATION
Threshold VWAP trigger for Earn-Out milestones \| $ / shares	15.00
Legacy Getty Images \| Common Stock holders \| Class A common stock \| Business Combination Agreement \| Earn-Out Tranche III
BUSINESS COMBINATION
Threshold VWAP trigger for Earn-Out milestones \| $ / shares	$ 17.50
Legacy Getty Images \| Redeemable Preferred Stock holders
BUSINESS COMBINATION
Consideration in shares		15,000,000
Cash \| $	$ 615,000,000.0
Legacy Getty Images \| Redeemable Preferred Stock holders \| Class A common stock
BUSINESS COMBINATION
Consideration in shares	15,000,000
Consideration in shares, fair value \| $	$ 140,200,000
CC Neuberger Principal Holdings II ("CCNB")
BUSINESS COMBINATION
Cash \| $		$ 614,996,000
Common stock, shares, issued		5,140,000
Goodwill \| $	0
Other intangible assets \| $	$ 0

ACQUISITION (Details) - Unsplash Inc. - USD ($)		12 Months Ended
ACQUISITION (Details) - Unsplash Inc. - USD ($)	Apr. 01, 2021	Dec. 31, 2022	Dec. 31, 2021
ACQUISITION
Payments to acquire business	$ 95,418,000
Acquisition-date fair value of Contingent Consideration	13,200,000	$ 0	$ 14,000,000.0
Two-Year Earnout
ACQUISITION
Threshold revenue	$ 10,000,000.0
Earnout term	2 years
Contingent consideration based on earnout	$ 10,000,000.0
Payment for contingent consideration made		$ 10,000,000.0
Revenues that exceed $10.0 million
ACQUISITION
Additional contingent consideration for every $1.0 million in revenues	1,000.0
Threshold revenue for additional contingent consideration	10,000,000.0
Revenues that exceeds $20.0 million in that trailing 12-month period
ACQUISITION
Additional contingent consideration for every $1.0 million in revenues	2,500
Threshold revenue for additional contingent consideration	20,000,000.0
Three-Year Earnout
ACQUISITION
Threshold revenue	$ 30,000,000.0
Earnout term	3 years
Contingent consideration based on earnout	$ 10,000,000.0
Revenues that exceed $30.0 million
ACQUISITION
Additional contingent consideration for every $1.0 million in revenues	1,000.0
Threshold revenue for additional contingent consideration	30,000,000.0
Revenues that exceeds $60.0 million in that trailing 12-month period
ACQUISITION
Additional contingent consideration for every $1.0 million in revenues	2,500
Threshold revenue for additional contingent consideration	$ 60,000,000.0

ACQUISITION - Components of the fair value of consideration transferred (Details) - Unsplash Inc. $ in Thousands	Apr. 01, 2021 USD ($)
ACQUISITION
Cash	$ 95,418
Contingent Consideration	13,200
Total fair value of consideration transferred	$ 108,618

ACQUISITION - Additional Information (Details) $ in Millions		12 Months Ended
	Apr. 01, 2021 USD ($) segment item	Dec. 31, 2022 segment
ACQUISITION
Number of operating segment \| segment	1	1
Unsplash Inc.
ACQUISITION
Transaction costs incurred \| $	$ 0.4
Number of minimum image downloads	102
Number of minimum image views per month	20

ACQUISITION - Purchase price allocated to assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	Apr. 01, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets acquired and liabilities assumed:
Goodwill		$ 1,499,578	$ 1,503,245	$ 1,430,837
Unsplash Inc.
Assets acquired and liabilities assumed:
Cash and cash equivalents	$ 6,213
Accounts receivable	1,061
Other current assets	736
Prepaid expenses	118
Property and equipment	1,729
Other long term assets	306
Identifiable intangible assets	23,900
Goodwill	75,782
Total assets acquired	109,845
Accounts payable and accrued expenses	(128)
Deferred income tax liability	(1,099)
Total liabilities assumed	(1,227)
Net assets acquired	$ 108,618
Weighted average life of intangible assets	6 years

ACQUISITION - Revenue and operating loss (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
ACQUISITION
Revenue since acquisition	$ 5.8
Operating loss since acquisition	$ 1.2

COMMON STOCK WARRANTS (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Oct. 19, 2022	Sep. 19, 2022	Aug. 31, 2022	Dec. 31, 2022
COMMON STOCK WARRANTS
Amount paid for redemption of warrants				$ 244
Loss on fair value adjustment for warrant liabilities - net				$ (160,728)
Public Warrants
COMMON STOCK WARRANTS
Number of shares entitled by each warrant				20,700,000
Number fractional shares issued upon exercise of warrants				0
Transaction costs allocated to warrants				$ 4,300
Shares issued upon exercise of warrants				10,328
Cash proceeds from exercise of warrants				$ 100
Warrants outstanding				0
Public Warrants \| Class A common stock
COMMON STOCK WARRANTS
Number of shares entitled by each warrant				1
Exercise price				$ 11.50
Public Warrants \| Redemption of warrants when the price of Class A common stock equals or exceeds $18.00 per share
COMMON STOCK WARRANTS
Redemption price per public warrant (in dollars per share)				0.01
Stock price trigger for redemption of public warrants (in dollars per share)				$ 18.00
Threshold trading days for redemption of public warrants				20 days
Consecutive threshold trading days for redemption of warrants				30 days
Private Placement Warrants
COMMON STOCK WARRANTS
Number of shares entitled by each warrant				18,560,000
Non-cash change in fair value of warrants			$ 176,600
Private Placement Warrants \| Class A common stock
COMMON STOCK WARRANTS
Number of shares entitled by each warrant				1
Exercise price				$ 11.50
Number of shares issued on exercise of warrants			11,555,996
Forward Purchase Warrants
COMMON STOCK WARRANTS
Number of shares entitled by each warrant				3,750,000
Number of shares entitled by each warrant				1
Exercise price				$ 11.50
Public and Forward Purchase Warrants
COMMON STOCK WARRANTS
Redemption price per public warrant (in dollars per share)		$ 0.01
Transaction costs allocated to warrants				$ 4,300
Non-cash change in fair value of warrants				$ 15,900
Amount paid for redemption of warrants	$ 200

DERIVATIVE INSTRUMENTS - Fair value amounts of derivative instruments (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair value amounts of derivative instruments
Total derivatives, Asset	$ 9,032	$ 804
Total derivatives, Liability	0	13,759
Foreign currency exchange options
Fair value amounts of derivative instruments
Total derivatives, Asset	0	804
Total derivatives, Liability	0	0
Interest rate swaps
Fair value amounts of derivative instruments
Total derivatives, Asset	9,032	0
Total derivatives, Liability	$ 0	$ 13,759

DERIVATIVE INSTRUMENTS (Details) - Derivatives not designated as hedging instruments $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2019 USD ($) item	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Foreign currency exchange options
DERIVATIVE INSTRUMENTS
Derivative contracts, notional amounts		$ 0.0	$ 15.2
Gain recognized on derivatives		0.7	1.7
Loss recognized on derivatives				$ 0.9
Interest rate swaps
DERIVATIVE INSTRUMENTS
Gain recognized on derivatives		$ 22.8	$ 17.6	$ 13.3
Number of interest rate swaps to hedge interest rate risk \| item	2
Embedded floor option rate, maximum		0.00%
Interest rate swap, one
DERIVATIVE INSTRUMENTS
Derivative contracts, notional amounts	$ 175.0
Notional amount of swap matured		$ 175.0
Fixed interest rate		2.501%
Interest rate swap, two
DERIVATIVE INSTRUMENTS
Derivative contracts, notional amounts	$ 355.0
Number of interest rate swaps to hedge interest rate risk \| item		1
Fixed interest rate		2.60%

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial instrument assets recorded at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative assets:
Derivative assets	$ 9,032
Recurring
FAIR VALUE OF FINANCIAL INSTRUMENTS
Money market funds (cash equivalents)	20,462	$ 30,096
Derivative assets:
Derivative assets	29,494	30,900
Recurring \| Foreign currency exchange options
Derivative assets:
Derivative assets		804
Recurring \| Interest rate swaps
Derivative assets:
Derivative assets	9,032
Level 1 \| Recurring
FAIR VALUE OF FINANCIAL INSTRUMENTS
Money market funds (cash equivalents)	20,462	30,096
Derivative assets:
Derivative assets	20,462	30,096
Level 2 \| Recurring
Derivative assets:
Derivative assets	9,032	804
Level 2 \| Recurring \| Foreign currency exchange options
Derivative assets:
Derivative assets		$ 804
Level 2 \| Recurring \| Interest rate swaps
Derivative assets:
Derivative assets	$ 9,032

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial instrument liabilities recorded at fair value (Details) - Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
Term Loans	$ 1,112,990	$ 1,475,759
Senior Notes	297,354	318,375
Contingent Consideration		14,039
Derivative liabilities:
Interest rate swap contracts		13,759
Liabilities fair value	1,410,344	1,821,932
Level 2
FAIR VALUE OF FINANCIAL INSTRUMENTS
Term Loans	1,112,990	1,475,759
Senior Notes	297,354	318,375
Derivative liabilities:
Interest rate swap contracts		13,759
Liabilities fair value	$ 1,410,344	1,807,893
Level 3
FAIR VALUE OF FINANCIAL INSTRUMENTS
Contingent Consideration		14,039
Derivative liabilities:
Liabilities fair value		$ 14,039

FAIR VALUE OF FINANCIAL INSTRUMENTS - Quantitative information associated with the fair value measurements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) Y item	Dec. 31, 2021 USD ($)	Apr. 01, 2021 USD ($)
Unsplash Inc.
Quantitative information associated with the fair value measurements
Obligations to transfer contingent consideration relating acquisition	$ 0.0	$ 14.0	$ 13.2
Unsplash Inc. \| Two Year Earnout Is Met
Quantitative information associated with the fair value measurements
Threshold revenues in calculating contingent consideration payments	$ 10.0
Level 3 \| Probability-adjusted discounted cash flow \| Years until milestones are expected to be achieved
Quantitative information associated with the fair value measurements
Fair value measurements input \| Y	1.57
Level 3 \| Probability-adjusted discounted cash flow \| Discount rate
Quantitative information associated with the fair value measurements
Fair value measurements input \| item	0.0994

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair value of contingent consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
Beginning balance	$ 14,039
Assumed in Business Combination		$ 13,200
Change in fair value of Contingent Consideration	(4,039)	839
Exercise / Payment	(10,000)
Ending balance		$ 14,039
Private Placement Warrants
FAIR VALUE OF FINANCIAL INSTRUMENTS
Assumed in Business Combination	56,237
Change in fair value	$ 176,616
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Fair Value Adjustment of Warrants
Exercise / Payment	$ (232,853)

PROPERTY AND EQUIPMENT - NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
PROPERTY AND EQUIPMENT - NET
Property and equipment	$ 619,769	$ 626,522
Less: accumulated depreciation	(447,686)	(455,626)
Property and equipment, net	$ 172,083	170,896
Contemporary imagery
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	5 years
Property and equipment	$ 377,858	379,837
Computer hardware purchased
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	3 years
Property and equipment	$ 6,783	5,639
Computer software developed for internal use
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	3 years
Property and equipment	$ 119,516	114,434
Leasehold improvements
PROPERTY AND EQUIPMENT - NET
Property and equipment	$ 8,361	11,459
Leasehold improvements \| Minimum
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	2 years
Leasehold improvements \| Maximum
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	20 years
Furniture, fixtures and studio equipment
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	5 years
Property and equipment	$ 10,856	15,167
Archival imagery
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	40 years
Property and equipment	$ 94,043	97,547
Other
PROPERTY AND EQUIPMENT - NET
Property and equipment	$ 2,352	$ 2,439
Other \| Minimum
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	3 years
Other \| Maximum
PROPERTY AND EQUIPMENT - NET
Estimated Useful Life (in years)	4 years

PROPERTY AND EQUIPMENT - NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Archival imagery
PROPERTY AND EQUIPMENT - NET
Property and Equipment with Indefinite life	$ 10.0	$ 10.3

GOODWILL - Change in Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
GOODWILL.
Goodwill before impairment, Beginning balance	$ 2,028,245	$ 1,955,837
Goodwill before impairment, Ending balance	2,024,578	2,028,245
Accumulated impairment charge, Beginning balance	(525,000)	(525,000)
Accumulated impairment charge, Ending balance	(525,000)	(525,000)
Goodwill - net, Beginning balance	1,503,245	1,430,837
Effects of fluctuations in foreign currency exchange rates	(3,667)	(3,374)
Goodwill related to acquisition		75,782
Goodwill - net, Ending balance	$ 1,499,578	$ 1,503,245

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

IDENTIFIABLE INTANGIBLE ASSETS - NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
IDENTIFIABLE INTANGIBLE ASSETS - NET
Gross amount, intangible assets	$ 1,000,225	$ 1,031,474
Accumulated Amortization	(580,677)	(552,622)
Net amount, intangible assets	419,548	478,852
Trademarks and trade names
IDENTIFIABLE INTANGIBLE ASSETS - NET
Gross amount, finite-lived intangible assets	104,053	104,174
Accumulated Amortization	(104,026)	(96,041)
Net amount, finite-lived intangible assets	$ 27	8,133
Trademarks and trade names \| Minimum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	5 years
Trademarks and trade names \| Maximum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	10 years
Patented and unpatented technology
IDENTIFIABLE INTANGIBLE ASSETS - NET
Gross amount, finite-lived intangible assets	$ 109,275	112,288
Accumulated Amortization	(103,419)	(97,818)
Net amount, finite-lived intangible assets	$ 5,856	14,470
Patented and unpatented technology \| Minimum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	3 years
Patented and unpatented technology \| Maximum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	10 years
Customer lists, contracts, and relationships
IDENTIFIABLE INTANGIBLE ASSETS - NET
Gross amount, finite-lived intangible assets	$ 391,454	404,421
Accumulated Amortization	(367,273)	(350,997)
Net amount, finite-lived intangible assets	$ 24,181	53,424
Customer lists, contracts, and relationships \| Minimum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	5 years
Customer lists, contracts, and relationships \| Maximum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	11 years
Non-compete Covenant
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	3 years
Gross amount, finite-lived intangible assets	$ 900	900
Accumulated Amortization	(900)	(811)
Net amount, finite-lived intangible assets		89
Other identifiable intangible assets
IDENTIFIABLE INTANGIBLE ASSETS - NET
Gross amount, finite-lived intangible assets	5,059	7,110
Accumulated Amortization	$ (5,059)	(6,955)
Net amount, finite-lived intangible assets		155
Other identifiable intangible assets \| Minimum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	3 years
Other identifiable intangible assets \| Maximum
IDENTIFIABLE INTANGIBLE ASSETS - NET
Range of Estimated Useful Lives	13 years
Trade name
IDENTIFIABLE INTANGIBLE ASSETS - NET
Indefinite lived assets	$ 389,484	$ 402,581

IDENTIFIABLE INTANGIBLE ASSETS - NET - Amortization (Details) $ in Thousands	Dec. 31, 2022 USD ($)
IDENTIFIABLE INTANGIBLE ASSETS - NET
2023	$ 23,892
2024	2,092
2025	2,083
2026	729
2027	$ 279

OTHER ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Long-Term Assets
Long term note receivable from a related party	$ 24,000	$ 24,000
Minority and other investments	12,097	10,621
Derivative asset	9,032
Tax receivable	2,700	3,300
Equity method investment	2,064	1,207
Long term deposits	1,609	1,754
Other	450	210
Other Long-Term Assets, total	51,952	41,092
Accrued Expenses
Accrued compensation and related costs	23,851	38,232
Lease liabilities	10,094
Interest payable	9,993	9,750
Accrued professional fees	4,334	5,198
Accrued contingent consideration		9,456
Accrued restructuring		1,033
Derivative liabilities		686
Other	1,055	2,214
Accrued expenses, total	49,327	66,569
Other Long-Term Liabilities
Deferred revenue	3,167	3,387
Derivative liabilities		13,073
Accrued Contingent Consideration (net of current portion)		4,583
Deferred rent (net of current portion)		3,370
Accrued restructuring		1,441
Other		1,107
Other Long-Term Liabilities, total	$ 3,167	$ 26,961

DEBT (Details) $ in Thousands, € in Millions	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 USD ($)	Feb. 28, 2019 EUR (€)	Feb. 28, 2019 USD ($)
DEBT
Less: issuance costs and discounts amortized to interest expense		$ (5,549)		$ (14,127)
Less: short-term debt - net				(6,481)
Long-term debt, net		1,428,847		1,750,990
Revolving credit facility
DEBT
Principal amount						$ 80,000
Maximum borrowing capacity						110,000
Senior Notes
DEBT
Long-term Debt, Gross		300,000		300,000
Principal amount						$ 300,000
Interest rate					9.75%	9.75%
USD Term Loans
DEBT
Long-term Debt, Gross		687,400		997,800
Principal amount						$ 1,040,000
EUR Term Loans
DEBT
Long-term Debt, Gross		$ 446,996		$ 473,798
Principal amount \| €	€ 419.0		€ 419.0		€ 450.0

DEBT - Additional information (Details) $ in Thousands, € in Millions	1 Months Ended	12 Months Ended
	Aug. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Feb. 28, 2019 EUR (€)	Feb. 28, 2019 USD ($)
DEBT
Amortization of issuance costs and debt discount	$ 300,000
Loss on extinguishment of debt		$ 2,693
Prepayment fees or penalties for repayment of debt		26,678
Fees incurred		400	$ 400	$ 400
EUR Term Loans
DEBT
Principal amount \| €					€ 419.0	€ 419.0	€ 450.0
Average rate				5.00%	5.27%	5.00%
EUR Term Loans \| Adjusted Eurodollar rate
DEBT
Interest rate					5.00%
USD Term Loans
DEBT
Repayments of debt	300,000	300,000
Loss on extinguishment of debt		$ (2,700)
Principal amount								$ 1,040,000
Quarterly installments	$ 2,600
Percentage of excess cash flow principal payment		50.00%
Average rate				4.69%	6.00%	4.63%
Base rate loans
DEBT
Interest rate					3.50%
Base rate loans \| NYFRB Rate
DEBT
Spread on variable rate		0.50%
Base rate loans \| Adjusted Eurodollar rate
DEBT
Spread on variable rate		1.00%
Eurodollar loans \| Adjusted Eurodollar rate
DEBT
Interest rate					4.50%

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended
	Aug. 31, 2022	Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES
Net uncertain tax positions		$ 34.6
Tax benefit for net uncertain tax positions		$ 2.7
EUR term loans 2023
COMMITMENTS AND CONTINGENCIES
Interest rate		8.10%
EUR term loans 2024
COMMITMENTS AND CONTINGENCIES
Interest rate		8.40%
EUR term loans 2025
COMMITMENTS AND CONTINGENCIES
Interest rate		7.80%
EUR term loans 2026
COMMITMENTS AND CONTINGENCIES
Interest rate		7.90%
USD term loans 2023
COMMITMENTS AND CONTINGENCIES
Interest rate		9.40%
USD term loans 2024
COMMITMENTS AND CONTINGENCIES
Interest rate		8.60%
USD term loans 2025
COMMITMENTS AND CONTINGENCIES
Interest rate		7.80%
USD term loans 2026
COMMITMENTS AND CONTINGENCIES
Interest rate		7.70%
USD Term Loans
COMMITMENTS AND CONTINGENCIES
Quarterly installments	$ 2.6

COMMITMENTS AND CONTINGENCIES - Future minimum payments under debt obligations, non-cancelable operating leases and other purchase obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Revolver commitment fee
2023	$ 404
2024	69
Total	473
Operating lease payments on facilities leases
2023	13,592
2024	12,221
2025	11,824
2026	6,951
2027	6,019
Thereafter	20,599
Total undiscounted lease payments	71,206
Minimum royalty guarantee payments to content suppliers
2023	39,607
2024	37,515
2025	36,117
2026	18,932
2027	9,038
Thereafter	17,044
Total	158,253
Technology purchase commitments
2023	4,826
2024	2,817
2025	2,045
2026	27
Total	9,715
Other commitments
2023	2,796
2024	244
2025	255
Total	3,295
Total commitments
2023	192,746
2024	180,385
2025	169,329
2026	1,201,859
2027	329,682
Thereafter	37,643
Total	2,111,644
Receipts for subleased facilities
2024	5,000
2025	4,900
2026	1,200
Minimum guaranteed receipts from content suppliers
2025	2,000
USD Term Loans and EUR Term loans
Debt, Principal payments
2026	1,134,396
Total	1,134,396
Debt, Interest payments
2023	102,271
2024	98,269
2025	89,838
2026	12,303
Total	302,681
Senior Notes
Debt, Principal payments
2027	300,000
Total	300,000	$ 300,000
Debt, Interest payments
2023	29,250
2024	29,250
2025	29,250
2026	29,250
2027	14,625
Total	$ 131,625

REVENUE (Details) $ in Thousands	12 Months Ended
REVENUE (Details) $ in Thousands	Dec. 31, 2022 USD ($) employee product	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
REVENUE
Number Of Primary Products \| product	3
Number of staff photographers and videographers \| employee	115
Total Revenue	$ 926,244	$ 918,688	$ 815,401
Revenues recognized from deferred revenue balance	135,500
Creative Stills
REVENUE
Total Revenue	585,400	596,917	532,732
Editorial Stills
REVENUE
Total Revenue	325,770	306,631	266,699
Other
REVENUE
Total Revenue	$ 15,074	$ 15,140	$ 15,970

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

REDEEMABLE PREFERRED STOCK (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jul. 22, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
STOCKHOLDERS' EQUITY (DEFICIT)
Cash payments for retirement of Redeemable Preferred Stock		$ 614,996
Dividends declared and issued, value		$ 43,200	$ 71,400	$ 64,100
Dividends declared and issued, shares		38,109	70,574	63,384
Redemption percentage		105.00%
Value of increase in the redemption value immediately prior to the Closing		$ 26,700
Redeemable Preferred Stock
STOCKHOLDERS' EQUITY (DEFICIT)
Number of shares authorized		900,000	900,000
Par value per share		$ 0.01	$ 0.01
Getty Images Holdings, Inc \| Class A common stock
STOCKHOLDERS' EQUITY (DEFICIT)
Cash payments for retirement of Redeemable Preferred Stock	$ 615,000
Number of shares issued for payments for retirement of Redeemable Preferred Stock	15,000,000
Value of shares issued as payments for retirement of Redeemable Preferred Stock	$ 140,200

STOCKHOLDERS' EQUITY (DEFICIT) (Details)		1 Months Ended	12 Months Ended
STOCKHOLDERS' EQUITY (DEFICIT) (Details)	Jul. 22, 2022 Vote D $ / shares shares	Aug. 31, 2022 shares	Dec. 31, 2022 Vote shares	Dec. 31, 2021 shares
STOCKHOLDERS' EQUITY (DEFICIT)
Total number of authorized shares	2,006,140,000
Par value per share \| $ / shares	$ 0.0001
Preferred stock, shares authorized	1,000,000		1,000,000.0	1,000,000.0
Sponsor side letter
STOCKHOLDERS' EQUITY (DEFICIT)
Stock conversion, VWAP trigger, Number of trading days \| D	30
Stock conversion, VWAP trigger, Number of consecutive trading days \| D	20
Class A common stock
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, shares authorized	2,000,000,000		2,000,000,000.0	2,000,000,000.0
Common stock, votes per share \| Vote	1
Number of shares converted to Class A common stock		5,140,000
Issuance of common stock upon vesting of Earn-out shares (in shares)		58,999,956
Class B common stock
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, shares authorized	5,140,000		5,100,000	5,100,000
Common stock, votes per share \| Vote			1
Series B-1 common stock \| Sponsor side letter
STOCKHOLDERS' EQUITY (DEFICIT)
Number of Restricted Sponsor shares into which Sponsor Shares are to be converted into	2,570,000
Stock conversion, VWAP trigger \| $ / shares	$ 12.50
Series B-2 common stock \| Sponsor side letter
STOCKHOLDERS' EQUITY (DEFICIT)
Number of Restricted Sponsor shares into which Sponsor Shares are to be converted into	2,570,000
Stock conversion, VWAP trigger \| $ / shares	$ 15.00

EQUITY-BASED COMPENSATION - Equity-based compensation expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
EQUITY-BASED COMPENSATION
Capitalized stock-based compensation expense	$ 0.3
Non-stock equity awards outstanding, converted	29,935,000	26,271,000
Selling, general and administrative expenses
EQUITY-BASED COMPENSATION
Equity-based compensation, net of forfeitures	$ 9.5	$ 6.4	$ 8.0
Equity Incentive Plan 2022
EQUITY-BASED COMPENSATION
Equity based awards vested	4 years
Number of common stock will be available for issuance (in shares)	51,104,577
Number of shares available to be issued	16,744,429
Legacy Getty 2012 Plan \| Class A common stock
EQUITY-BASED COMPENSATION
Non-stock equity awards outstanding, converted	3,635

EQUITY-BASED COMPENSATION - Summary of the Company's stock option activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Number of awards
Outstanding at the beginning	26,271
Retroactive application of recapitalization		7,331
Outstanding at the beginning, after effect of recapitalization	33,602
Granted	978
Exercised	(2,959)
Pre-vesting forfeitures	(1,659)
Post-vesting cancellations	(27)
Outstanding at the end	29,935	26,271
Exercisable at the end	26,412
Vested and expected to vest after the end	29,863
Weighted Average Exercise Price
Outstanding at the beginning (in dollars per share)	$ 3.98
Retroactive application of recapitalization (in dollars per share)		$ (0.87)
Outstanding at the beginning, after effect of recapitalization (in dollars per share)	3.11
Granted (in dollars per share)	6.18
Exercised (in dollars per share)	4.36
Pre-vesting forfeitures (in dollars per share)	3.32
Post-vesting cancellations (in dollars per share)	2.77
Outstanding at the end (in dollars per share)	3.08	$ 3.98
Exercisable at the end (in dollars per share)	3.01
Vested and expected to vest after the end (in dollars per share)	$ 3.08
Remaining Average Contractual Life (in Years)
Outstanding at the beginning, after effect of recapitalization	5 years 10 months 6 days	5 years 10 months 13 days
Outstanding at the end	5 years 10 months 6 days	5 years 10 months 13 days
Exercisable at the end	5 years 7 months 13 days
Vested and expected to vest after the end	5 years 10 months 6 days

EQUITY-BASED COMPENSATION - Intrinsic value of the Company's stock options (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intrinsic value of stock options
Stock options outstanding	$ 75,888	$ 12,794
Stock options exercisable	68,431	9,254
Stock options vested and expected to vest	75,704	$ 12,641
Intrinsic value of stock options exercised	$ 14,800

EQUITY-BASED COMPENSATION - Weighted-average grant-date fair value of stock options, the valuation model used to estimate the fair value, and the assumptions input (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted-average grant-date fair value of stock options and the assumptions input into that model for awards granted
Weighted average grant date fair value per award	$ 3.17	$ 1.19	$ 1.22
Expected award price volatility	50.00%	35.00%	50.00%
Risk-free rate of return	4.15%	1.15%	1.08%
Expected life of awards	5 years 8 months 12 days	6 years 1 month 6 days	6 years 1 month 6 days
Expected rate of dividends	0.00%	0.00%	0.00%

EQUITY-BASED COMPENSATION - Unrecognized compensation expense of stock options (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
EQUITY-BASED COMPENSATION
Total unrecognized compensation expense	$ 4.5
Total unrecognized compensation expense, weighted average period	1 year 4 months 24 days
Fair value of time-based awards that vested	$ 7.9	$ 6.7	$ 10.1

EQUITY-BASED COMPENSATION - Summary of RSU activity (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of awards
Granted \| shares	4,368
Cancelled \| shares	(1)
Outstanding at the end \| shares	4,367
Weighted Average Grant-Date Fair Value
Granted (in dollars per share) \| $ / shares	$ 5.58
Cancelled (in dollars per share) \| $ / shares	5.60
Outstanding at the end (in dollars per share) \| $ / shares	$ 5.58

EQUITY-BASED COMPENSATION - Unrecognized compensation expense of RSU (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
EQUITY-BASED COMPENSATION
Total unrecognized compensation expense expected to be recognized over a weighted average period	1 year 4 months 24 days
Restricted Stock Units
EQUITY-BASED COMPENSATION
Total unrecognized compensation expense	$ 22.8
Total unrecognized compensation expense expected to be recognized over a weighted average period	3 years

DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) Y	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS
Minimum period of service for participating in the plan	3 months
Defined contribution plan \| $	$ 7.4	$ 8.3	$ 5.4
U.S
DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS
Minimum age for auto-enrollment to plan \| Y	18
Percentage of employer participant matching contribution	100.00%
Percentage of each participant's contribution	4.00%
U.K
DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS
Percentage of employer participant matching contribution	5.00%
Percentage of minimum employee contribution	3.00%
Maximum \| Canada
DEFINED CONTRIBUTION EMPLOYEE BENEFIT PLANS
Percentage of employer matching contribution	3.00%

LEASES - Company's leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022
LEASES
Right of use asset	$ 47,231	$ 53,100
Lease liabilities, current	10,094
Lease liabilities, non-current	46,218
Total lease liabilities	$ 56,312	$ 61,300
Weighted average remaining lease term	6 years 3 months 18 days
Weighted average discount rate	5.60%
Cash paid for amounts included in lease liabilities	$ 14,150
Right of use asset obtained in exchange for lease obligation upon adoption	53,076
Right of use asset obtained in exchange for lease obligations	$ 6,050

LEASES - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022
LEASES
2023	$ 12,978
2024	12,244
2025	11,988
2026	6,592
2027	5,456
Thereafter	18,659
Total undiscounted lease payments	67,917
Less: imputed interest	(11,605)
Total lease liabilities	$ 56,312	$ 61,300

LEASES - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
LEASES
Operating lease costs related to short-term leases	$ 10,000	$ 11,800	$ 11,800
Impairment of right of use assets	$ 2,563

INCOME TAXES - Components of income (loss) before income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
United States	$ (95,489)	$ 104,984	$ (27,823)
Foreign	61,972	31,142	(36)
(LOSS) INCOME BEFORE INCOME TAXES	$ (33,517)	$ 136,126	$ (27,859)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

INCOME TAXES - Components of income tax expense (benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
United States	$ 20,652	$ 22,321	$ 8,854
Foreign	9,487	(7,756)	12,095
Total current income tax expense (benefit)	30,139	14,565	20,949
Deferred:
United States	13,356	4,698	(13,227)
Foreign	631	(534)	1,794
Total deferred income tax expense (benefit)	13,987	4,164	(11,433)
Total provision for income tax expense	44,126	$ 18,729	$ 9,516
Net tax benefit	$ 5,100

INCOME TAXES - Difference between income taxes computed at the U.S. federal statutory rate and the effective income tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Federal income tax expense (benefit) at the statutory rate	$ (7,039)	$ 28,586	$ (5,849)
Effect of:
State taxes, net of federal benefit	(3,092)	3,632	643
Tax impact of foreign earnings and losses	11,453	(10,171)	3,644
Stock-based compensation	2,230	236	169
Nondeductible net loss on fair value adjustment for warrant liabilities	34,659
Valuation allowance	12,223	1,532	13,763
Tax credits	(6,852)	(5,030)	(3,213)
Other, net	544	(56)	359
Total provision for income tax expense	$ 44,126	$ 18,729	$ 9,516

INCOME TAXES - Reconciliation of the beginning and ending amounts of unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Uncertain tax benefits, beginning of year	$ 33,425	$ 47,637	$ 45,003
Gross increase to tax positions related to prior years	31	121	1,239
Gross decrease to tax positions related to prior years	(1,109)	(413)	(42)
Gross increase to tax positions related to the current year	675	2,204	2,082
Lapse of statute of limitations	(4,055)	(16,124)	(645)
Uncertain tax benefits, end of year	$ 28,967	$ 33,425	$ 47,637

INCOME TAXES - Unrecognized tax benefits - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES
Unrecognized tax benefits	$ 28,967	$ 33,425	$ 47,637	$ 45,003
Gross unrecognized tax benefits, if fully recognized, would affect our effective tax rate	20,100
Estimated reserves for uncertain tax positions may be released in the next 12 months	11,800
Interest and penalties related to liabilities for uncertain tax positions in income tax expense	(900)	(5,300)	2,500
Total accrued interest and penalties relating to uncertain tax positions	12,400	13,300	$ 18,600
Valuation allowance	216,745	205,877
U.S
INCOME TAXES
Valuation allowance	$ 126,700	$ 106,400

INCOME TAXES - Deferred taxes and valuation allowances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Income tax attributes	$ 225,831	$ 204,531
Accrued liabilities and reserves	7,109	8,796
Operating lease liabilities	10,969	11,667
Prepaid expenses		6,483
Stock-based compensation expense	6,736	9,308
Other	1,656	1,150
Gross deferred tax assets	252,301	241,935
Less valuation allowance	(216,745)	(205,877)
Total deferred tax assets	35,556	36,058
Deferred tax liabilities
Amortization and depreciation	(43,556)	(39,167)
Operating lease assets	(9,139)	(10,512)
Prepaid expenses	(1,569)
Other	(10,095)	(2,081)
Net deferred tax liabilities, net of valuation allowance	$ (28,803)	$ (15,702)

INCOME TAXES - Net operating loss carryforwards and expiration periods (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Operating Loss Carryforward
Deferred Tax Assets	$ 90,908
Net Operating Loss Carryforward	673,167
United States
Operating Loss Carryforward
Deferred Tax Assets, expiring	10,676
Net Operating Loss Carryforward, expiring	152,048
Foreign
Operating Loss Carryforward
Deferred Tax Assets, expiring	25,288
Deferred Tax Assets, indefinite	54,944
Net Operating Loss Carryforward, expiring	104,343
Net Operating Loss Carryforward, indefinite	$ 416,776

INCOME TAXES - Federal tax credits (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Tax credit carryforwards:
Total	$ 42,540
Foreign
Tax credit carryforwards:
Tax credits, expiring between 2022 and 2032	$ 42,540

RESTRUCTURING (Details) - USD ($)	12 Months Ended
RESTRUCTURING (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring
Balance at the beginning	$ 2,474,000	$ 6,697,000	$ 10,815,000
Reduction of accrual due to net cash payments	(164,000)	(3,847,000)	(14,030,000)
Additional charges and adjustments	(33,000.0)	(475,000.0)	9,135,000
Accretion expense	(2,275,000)	225,000	259,000
Effects of fluctuations in foreign currency exchange rates	(2,000)	(126,000)	518,000
Balance at the end	0	2,474,000	6,697,000
Leased Properties Losses
Restructuring
Balance at the beginning	2,275,000	2,866,000	2,958,000
Reduction of accrual due to net cash payments		(901,000)	(715,000)
Additional charges and adjustments		131,000	319,000
Accretion expense	(2,275,000)	225,000	259,000
Effects of fluctuations in foreign currency exchange rates		(46,000)	45,000
Balance at the end	0	2,275,000	2,866,000
Employee Termination Costs
Restructuring
Balance at the beginning	199,000	3,831,000	7,857,000
Reduction of accrual due to net cash payments	(164,000)	(2,946,000)	(13,315,000)
Additional charges and adjustments	(33,000)	(606,000)	8,816,000
Effects of fluctuations in foreign currency exchange rates	(2,000)	(80,000)	473,000
Balance at the end	$ 0	$ 199,000	$ 3,831,000

RESTRUCTURING - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
RESTRUCTURING
Restructuring costs	$ (33,000.0)	$ (475,000.0)	$ 9,135,000

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEGMENT AND GEOGRAPHIC INFORMATION
REVENUE	$ 926,244	$ 918,688	$ 815,401
Percentage on total revenue	10.00%
Long-lived tangible assets	$ 172,083	170,896
Americas
SEGMENT AND GEOGRAPHIC INFORMATION
REVENUE	$ 525,775	$ 496,607	$ 457,327
Percentage on total revenue	51.70%	48.90%	51.30%
Long-lived tangible assets	$ 87,819	$ 85,213
Percentage on total long-lived tangible assets	47.00%	47.10%
Europe, the Middle East, and Africa
SEGMENT AND GEOGRAPHIC INFORMATION
REVENUE	$ 293,673	$ 317,435	$ 270,701
Percentage on total revenue	10.40%	11.50%	10.40%
Long-lived tangible assets	$ 83,928	$ 85,307
Percentage on total long-lived tangible assets	41.70%	43.60%
Asia-Pacific
SEGMENT AND GEOGRAPHIC INFORMATION
REVENUE	$ 106,796	$ 104,646	$ 87,373
Long-lived tangible assets	$ 336	$ 376

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
NET (LOSS) INCOME	$ (77,643)	$ 117,397	$ (37,375)
Net (loss) income attributable to noncontrolling interest	(89)	329	(182)
Premium on early redemption of Redeemable Preferred Stock	26,678
Redeemable Preferred Stock dividend	43,218	71,393	64,120
NET (LOSS) INCOME ATTRIBUTABLE TO GETTY IMAGES HOLDINGS, INC. - Basic	$ (147,450)	$ 45,675	$ (101,313)
Weighted-average Class A common stock outstanding:
Basic	276,942,660	196,084,650	196,082,503
Effect of dilutive securities		5,422,705
Diluted	276,942,660	201,507,355	196,082,503
Net (loss) income per share of Class A common stock attributable to Getty Images Holdings, Inc. common stockholders:
Basic	$ (0.53)	$ 0.23	$ (0.52)
Diluted	$ (0.53)	$ 0.23	$ (0.52)

NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive securities
Anti-dilutive securities not included in computation of diluted net (loss) income per share of class A common stock	34,302,400	13,826,565	34,484,353
Common stock options
Antidilutive securities
Anti-dilutive securities not included in computation of diluted net (loss) income per share of class A common stock	29,934,987	13,826,565	34,484,353
Restricted Stock Units
Antidilutive securities
Anti-dilutive securities not included in computation of diluted net (loss) income per share of class A common stock	4,367,413