v3.26.1
Derivatives and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative instruments in statement of financial position, fair value
The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of June 30, 2026 and December 31, 2025:
(In thousands)Balance Sheet LocationJune 30,
2026		December 31,
2025
Derivatives designated as hedging instruments:
Interest rate “pay-fixed” swaps (EUR)Derivative assets, at fair value$169 $— 
Interest rate “pay-fixed” swaps (EUR)Derivative liabilities, at fair value(267)(995)
Total$(98)$(995)
Derivatives not designated as hedging instruments:
Foreign currency forwards (GBP-USD)Derivative assets, at fair value$34 $— 
Foreign currency forwards (GBP-USD)Derivative liabilities, at fair value(1,305)(3,140)
Foreign currency forwards (EUR-USD)Derivative assets, at fair value775 7 
Foreign currency forwards (EUR-USD)Derivative liabilities, at fair value(225)(1,163)
Total $(721)$(4,296)
Schedule of interest rate derivatives
As of June 30, 2026 and December 31, 2025, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:
June 30, 2026December 31, 2025
DerivativesNumber of
Instruments		Notional AmountNumber of
Instruments		Notional Amount
(In thousands)(In thousands)
Interest rate “pay-fixed” swaps (EUR) 9$352,732 9$363,009 
Total9$352,732 9$363,009 
Schedule of derivative instruments, gain (loss) in statement of financial performance
The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and six months ended June 30, 2026 and 2025.
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Amount of gain (loss) recognized in AOCI from derivatives
$467 $982 $(659)$1,868 
Amount of (loss) gain reclassified from AOCI into income as interest expense$(88)$151 $(230)$(2,654)
Total interest expense recorded in the consolidated statements of operations
$38,820 $53,348 $78,011 $106,785 
Schedule of disclosure of credit derivatives
As of June 30, 2026 and December 31, 2025, the Company had the following outstanding derivatives that were not designated as hedges under qualifying hedging relationships.
June 30, 2026December 31, 2025
DerivativesNumber of
Instruments		Notional AmountNumber of
Instruments		Notional Amount
(In thousands)(In thousands)
Foreign currency forwards (GBP-USD)26$70,189 34$92,846 
Foreign currency forwards (EUR-USD)2340,498 3155,766 
Total49$110,687 65$148,612 
Schedule of offsetting assets
The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2026 and December 31, 2025. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets.
Gross Amounts Not Offset on the Balance Sheet

(In thousands)
Gross Amounts of Recognized AssetsGross Amounts of Recognized (Liabilities)Gross Amounts Offset on the Balance SheetNet Amounts of (Liabilities) Assets presented on the Balance SheetFinancial InstrumentsCash Collateral Received (Posted)Net Amount
June 30, 2026$978 (1,797)— (819)— — $(819)
December 31, 2025$7 (5,298)— (5,291)— — $(5,291)