v3.26.1
Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in the Balance Sheets
The following table presents the fair values of derivative assets and liabilities in the condensed consolidated balance sheets (in thousands):
March 31, 2026
Derivative AssetDerivative Liability
Notional Amount
Fair Value 1
Notional AmountFair Value
Interest rate cap (SOFR-based)
$726,690 $1,667 $— $— 
Total derivatives, net$726,690 $1,667 $— $— 

1 Of this amount, $0.2 million is presented on the balance sheet as Current assets - derivative assets and $1.5 million is Other assets, net.
December 31, 2025
Derivative AssetDerivative Liability
Notional AmountFair ValueNotional AmountFair Value
Interest rate cap (SOFR-based)
$194,190 $72 $— $— 
Total derivatives, net$194,190 $72 $— $— 
Schedule of Derivative Instruments in the Statement of Operations
The following table presents the effect of the derivative instruments on the condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20262025
Derivative not designated as hedge
Interest rate cap
Gain (loss) on derivatives not designated as hedges included in interest expense$393 $(490)