DERIVATIVE INSTRUMENTS |
12 Months Ended |
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Dec. 31, 2025 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| DERIVATIVE INSTRUMENTS | DERIVATIVE INSTRUMENTS The Company previously entered into interest rate swaps, effectively converting the interest on a notional amount of $375 million of the Company's floating-rate borrowing to a fixed rate. The purpose of the interest rate swaps is to reduce the impact of future interest-rate changes on interest expense. The Company designated the interest rate swaps as a cash flow hedge. On November 26, 2025, the Company completed a refinancing of borrowings under its revolving credit facilities, and in connection with such refinancing, the Company also terminated the interest rate swaps. For the years ended December 31, 2025, 2024, and 2023, approximately $4 million, $8 million, and $7 million, respectively, of gains realized on the interest rate swaps were reclassified from accumulated other comprehensive income and included in interest expense, net, in the consolidated statements of net income.
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- References No definition available.
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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