v3.25.2
Derivative and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amount and Fair Value of Instruments
The following table summarizes the notional amount at inception and fair value of these instruments on the Company's balance sheet, all of which are interest rate swaps designated as cash flow hedges, as of June 30, 2025 and December 31, 2024 (dollar amounts in thousands):
Fair Value of Asset/(Liability)(2)
Number of Swap AgreementsAssociated Debt InstrumentFixed Rate Paid by CompanyMaturity Date
Aggregate Notional Value(1)
June 30, 2025December 31, 2024
52027 Term Loan1.41%November 2026$430,000 $13,114 $20,759 
112028 Term Loan3.66%January 2028400,000 (2,846)3,805 
82029 Term Loan4.40%February 2029450,000 (16,482)(7,407)
152030 Term Loan3.82%December 2029450,000 (8,681)2,972 
$1,730,000 $(14,895)$20,129 
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(1)Aggregate notional value indicates the extent of the Company's involvement in these instruments, but does not represent exposure to credit, interest rate or market risks.
(2)Derivatives in an asset position are included within derivative assets and derivatives in a liability position are included within derivative liabilities in the Company's consolidated balance sheets.
Schedule of Accumulated Other Comprehensive (Loss) Income
The following table presents amounts recorded to accumulated other comprehensive (loss) income related to derivative and hedging activities for the periods presented:
Three months ended June 30,Six months ended June 30,
(in thousands) 2025202420252024
Other comprehensive (loss) income$(12,416)$1,746 $(34,780)$21,379