v3.26.1
DERIVATIVES AND HEDGING (Tables)
6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following table summarizes the terms and fair values of the Company’s derivative financial instruments as of June 30, 2026:
Derivative
Notional Amount (in thousands)
Maturity or Settlement DateIndexStrike Rate
Fair Value as of June 30, 2026 (in thousands)
Fair Value as of December 31, 2025 (in thousands)
Cash flow hedge£7,656 March 2026GBP-USD exchange rate$1.34 $— $(67)
Cash flow hedge£7,741 June 2026GBP-USD exchange rate$1.34 — (67)
Cash flow hedge£8,500 September 2026GBP-USD exchange rate$1.35 165 — 
Cash flow hedge£8,500 December 2026GBP-USD exchange rate$1.34 146 — 
Interest rate swap$250,000 June 2028USD-SOFR3.5 %1,942 (1,543)
Interest rate swap$250,000 June 2028USD-SOFR3.5 %1,941 (1,543)
Schedule of Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)
The table below presents the effect of cash flow hedge accounting on accumulated other comprehensive income (loss) for the three and six months ended June 30, 2026 and 2025 (dollars in thousands):
For the three months ended June 30, 2026
For the six months ended June 30, 2026
For the three months ended June 30, 2026
For the six months ended June 30, 2026
Gain recognized in Other Comprehensive Income (Loss)Gain reclassified from Accumulated Other Comprehensive Income (Loss) into IncomeIncome Statement Location
Cash flow hedge$297 $586 $(84)$(141)
Gain on foreign currency transactions, net
Interest rate swap3,807 7,312 (147)(343)Interest expense
$4,104 $7,898 $(231)$(484)

For the three months ended June 30, 2025For the six months ended June 30, 2025For the three months ended June 30, 2025For the six months ended June 30, 2025
Loss recognized in Other Comprehensive Income (Loss)(Gain) loss reclassified from Accumulated Other Comprehensive Income (Loss) into IncomeIncome Statement Location
Cash flow hedge$(1,146)$(1,146)$— $— 
Gain on foreign currency transactions, net
$(1,146)$(1,146)$— $—