v3.26.1
Derivative Instruments
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
10. Derivative Instruments
The Company has entered into an interest rate swap, exchanging variable interest rates for fixed interest rates. The interest rate swap was designated as a cash flow hedge derivative instrument, and management evaluated hedge effectiveness and determined it to be highly effective as of June 30, 2026. See Note 11. Fair Value Measurements for details on the valuation of the interest rate swap.
The table below summarizes the amortization schedule related to the interest rate swap, which matures on September 5, 2030:
Notional AmountPeriod End
$325,000,0009/5/2030
The following table summarizes the effects of the Company’s derivative instruments on the condensed consolidated statements of operations:
Three Months EndedSix Months Ended
(in thousands)
June 30,June 30,
2026202520262025
Gain on cash flow hedges:
Interest expense$1,277 $2,286 $1,799 $4,037