| Deferred Costs The deferred costs activity was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (in thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Balance, beginning of period | $ | 86,200 | | | $ | 88,523 | | | $ | 87,412 | | | $ | 85,914 | | | Incurred deferred costs | 21,365 | | | 24,112 | | | 42,875 | | | 52,730 | | | Amortized deferred costs | (23,268) | | | (24,731) | | | (45,990) | | | (50,740) | | | Balance, end of period | $ | 84,297 | | | $ | 87,904 | | | $ | 84,297 | | | $ | 87,904 | |
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