Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Key Terms of Interest-rate Swap and Interest-rate Cap Agreements

The tables below summarize the key terms of the interest rate swap and interest rate cap agreements:

Interest rate swap agreements:


Aggregate Notional Amount		Effective Date	Maturity Date	Interest - Rate
(In thousands)
$	400,000	March 31, 2023	December 31, 2025	Fixed SOFR rate of 3.71%

Interest rate cap agreements:


Aggregate Notional Amount			Effective Date	Maturity Date	Interest - Rate
(In thousands)
$	1,500,000	(1)	March 31, 2023	September 30, 2025	Capped SOFR rate of 4.45% (2)
$	1,500,000		September 30, 2025	December 31, 2026	Capped SOFR rate of 5.00%

(1)

The original interest rate cap agreement, dated November 30, 2022, has an initial notional amount of $500.0 million, increasing to $1,000.0 million on March 31, 2023, and increasing to $1,500.0 million on March 28, 2024.

(2)

The interest rate was amended on June 29, 2023 from LIBOR (4.50%) to SOFR (4.45%).

Schedule of Recognized Assets and Liabilities Offset in Consolidated Balance Sheets

The amounts shown in the table below represent the gross amounts of recognized assets and liabilities, the amounts offset in the Consolidated Balance Sheets and the net amounts of assets and liabilities presented therein:


	As of June 30, 2026				As of December 31, 2025
	Asset		Liability		Asset		Liability
	(in thousands)
Foreign exchange contracts	$	—	$	1,298	$	1,757	$	—
Interest rate cap agreements		—		3,411		—		6,808
Net derivatives as classified in the consolidated balance sheets	$	—	$	4,709	$	1,757	$	6,808