v3.25.2
Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives Outstanding

Detail on the Company's interest rate derivatives outstanding as of June 30, 2025 and December 31, 2024 is as follows:

(in thousands, except number of instruments data)

 

 

 

 

 

 

Interest Rate Swaps

 

June 30, 2025

 

 

December 31, 2024

 

Notional amount

 

$

301,885

 

 

 

301,444

 

Number of instruments

 

 

15

 

 

 

14

 

Schedule of Fair Value of Interest Rate Derivatives

Detail on the fair value of the Company's interest rate derivatives as of June 30, 2025 and December 31, 2024 is as follows:

(in thousands)

 

 

 

 

 

 

Interest rate swaps classified as:

 

June 30, 2025

 

 

December 31, 2024

 

Derivative assets

 

$

8,402

 

 

 

12,781

 

Derivative liabilities

 

 

(1,735

)

 

 

(423

)

Derivative Instruments, Gain (Loss)

The following table represents the effect of the derivative financial instruments on the accompanying Consolidated Financial Statements:

Location and Amount of (Loss) Gain Recognized in OCI on Derivative

 

 

Location and Amount of Gain Reclassified from AOCI into Net Income

 

 

Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded

 

 

 

Three months ended June 30,

 

 

 

 

Three months ended June 30,

 

 

 

 

Three months ended June 30,

 

(in thousands)

 

2025

 

 

2024

 

 

 

 

2025

 

 

2024

 

 

 

 

2025

 

 

2024

 

Interest rate swaps

 

$

(1,295

)

 

 

3,124

 

 

Interest expense, net

 

$

(1,015

)

 

 

(2,440

)

 

Interest expense, net

 

$

50,272

 

 

 

43,178

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30,

 

 

 

 

Six months ended June 30,

 

 

 

 

Six months ended June 30,

 

(in thousands)

 

2025

 

 

2024

 

 

 

 

2025

 

 

2024

 

 

 

 

2025

 

 

2024

 

Interest rate swaps

 

$

(3,943

)

 

 

11,717

 

 

Interest expense, net

 

$

(2,760

)

 

 

(4,807

)

 

Interest expense, net

 

$

98,285

 

 

 

86,046