v3.26.1
Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative instruments
Certain information related to our derivatives contracts is presented below (in thousands):
Effective DateNotional AmountFixed RateCapFloorIndexActual Termination Date
Swap contracts3/3/2025$300,000 3.829 %USD-SOFR rate2/29/2028
Collar contracts3/3/2025$300,000 — 4.500 %3.001 %USD-SOFR rate2/29/2028
Schedule of derivative instruments, effect on other comprehensive income (loss)
The following table presents the pre-tax amounts of derivative gains or losses deferred into accumulated other comprehensive income and the income statement line item that will be affected when reclassified to earnings (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Accumulated Other Comprehensive Income Component (OCI)
Location of Gains/(Losses) When Reclassified to Net Income/(Loss)
Gains/(Losses) Recognized in OCI Related to Derivatives Designated as Hedging Instruments
Cash flow hedges:
Swap contractsInterest expense$1,878 $(1,871)$4,108 $(3,283)
Collar contractsInterest expense786 (956)1,233 (1,840)
Total gains/(losses) recognized in statements of comprehensive income
$2,664 $(2,827)$5,341 $(5,123)
Schedule of cash flow hedging instruments, statements of financial performance and financial position, location
The following table presents the pre-tax amounts of derivative gains or (losses) recorded to earnings and the affected income statement line items (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Interest expense
Total amounts presented in the condensed consolidated statements of income in which the following effects were recorded
(Losses)/gains related to derivatives designated as hedging instruments:
Cash flow hedges(1):
Swap contracts
$(139)$376 $(245)$491 
Collar contracts(2)
— — — — 
Total (losses)/gains recognized in statements of income
$(139)$376 $(245)$491 
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(1)    Represents the pre-tax amounts of derivative gains/(losses) reclassified from accumulated other comprehensive income to earnings.
(2)    As of the reporting date, the 1-month Term SOFR remains within the specified cap strike and floor strike bands. Consequently, there are no payments required to be exchanged under this agreement.