v3.26.1
INTEREST RATE SWAPS (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
A summary of the significant terms of the Company’s interest rate swap agreements is as follows (dollars in thousands):
Entry DateEffective Date
Maturity Date(1)
Notional AmountSettlement TypeSettlement FrequencyFixed Base Rate
Swap A
3/7/20193/11/20193/11/2029$850,000 Receive one-month SOFR, pay fixedMonthly2.595%
Swap B
3/6/20196/15/20202/28/2029350,000 Receive one-month SOFR, pay fixedMonthly2.691%
Total$1,200,000 
(1)Each swap may be terminated prior to the scheduled maturity at the election of the Company or the financial institution counterparty under the terms provided in each swap agreement.
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The combined fair values of the Company’s interest rate swaps are reflected within the condensed consolidated balance sheets as follows (in thousands):
June 30, 2026December 31, 2025
Assets:
Current portion:
Prepaid and other current assets$15,662 $9,240 
Noncurrent portion:
Other noncurrent assets23,662 15,947 
Total interest rate swap asset$39,324 $25,187 
Stockholders’ Equity:
Accumulated other comprehensive income$29,551 $18,768 
The combined effect of the Company’s interest rate swaps on the condensed consolidated statements of operations and comprehensive income (loss) was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Interest (income) expense$(3,109)$(5,166)$(6,307)$(10,296)
Unrealized gain (loss) on cash flow hedges, gross$8,336 $(13,238)$14,137 $(32,864)
Less: Tax effect(1,967)3,130 (3,354)7,770 
Unrealized gain (loss) on cash flow hedges, net of tax$6,369 $(10,108)$10,783 $(25,094)