v3.26.1
Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
The following table summarizes the terms and fair values of the Company’s interest rate derivative contracts that were designated as cash flow hedges of interest rate risk (dollars in thousands):

Number of Instruments
Aggregate Notional Value
Fair Value of Asset (Liability)(2)
Associated Debt Instrument
June 30, 2026December 31, 2025
Hedge Fixed Rate(1)
Maturity Dates
June 30, 2026December 31, 2025June 30, 2026December 31, 2025
2028 Term Loan
332.63%February 11, 2028$200,000 $200,000 $4,168 $2,620 
2029 Term Loan
443.74%January 3, 2029250,000 250,000 960 (3,198)
2030 Term Loan A
442.40%January 23, 2027175,000 175,000 1,431 1,806 
2030 Term Loan B
773.87%January 2, 2030175,000 175,000 (106)(3,467)
2031 Term Loan883.44%March 1, 2031200,000 200,000 3,432 (185)
2032 Term Loan883.42%September 1, 2032200,000 200,000 4,699 1,140 
Total
3434$1,200,000 $1,200,000 $14,584 $(1,284)
(1) Represents the weighted-average hedge fixed rate of the derivative contracts for each associated debt instrument and excludes the associated applicable margin as described in “Note 6 Debt.”
(2) Derivative contracts in asset positions are included within other assets, net and derivative contracts in liability positions are included within accounts payable, accrued expenses, and other liabilities in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025.
Effect of Interest Rate Swaps
The following table presents the effect of the Company’s interest rate swaps in the condensed consolidated statements of operations and comprehensive income (loss) (in thousands):

Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships2026202520262025
For the Three Months Ended June 30
Interest Rate Products$10,651 $(4,081)Interest expense, net$344 $1,563 
 
For the Six Months Ended June 30
Interest Rate Products$18,072 $(12,453)Interest expense, net$787 $3,055