v3.25.2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The Company’s interest rate swaps consist of the following (notional amounts in thousands):
ExecutionMaturityDesignationJune 30, 2025December 31, 2024
October 2019September 2026Not designated$2,800,000 $2,800,000 
March 2023March 2028Not designated100,000 100,000 
April 2023March 2028Not designated200,000 200,000 
December 2023September 2026Not designated700,000 700,000 
June 2025
March 2032
Cash flow hedge
550,000 — 
Total notional amount$4,350,000 $3,800,000 
Schedule of Derivative Liabilities at Fair Value
Balance Sheet Classification (in thousands)
June 30, 2025December 31, 2024
Prepaid expenses and other current assets$47,752 $56,164 
Other assets21,664 54,102 
Accrued expenses and other current liabilities(170)(1,466)
Other liabilities(5,821)(208)
Fair value of interest rate swaps - net asset (liability)$63,425 $108,592 
Schedule of Unrealized Gain (Loss) on Interest Rate Swaps
Unrealized gains (losses) on the Company’s derivatives not classified as cash flow hedges that were recognized in the Statements of Operations were as follows:
Three Months Ended June 30,Six Months Ended June 30,
Classification (in thousands)
2025202420252024
Interest expense, net$(13,022)$(5,125)$(34,031)$11,622 
Other income (expense)$(3,813)$(3,277)$(7,845)$(9,878)
Reclassification out of Accumulated Other Comprehensive Income
The following table includes reclassifications related to previously designated cash flow hedges and unrealized gains (losses) on interest rate swaps designated as cash flow hedges:
Three Months Ended June 30,Six Months Ended June 30,
Changes in AOCI (in thousands)
2025202420252024
Interest expense, net$(1,591)$1,985 $195 $4,114 
Income tax (benefit) expense$384 $(481)$(48)$(993)