v3.26.1
Derivatives and Hedging (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in the Balance Sheets
The following table presents the fair values of derivative assets and liabilities in the condensed consolidated balance sheets (in thousands):
June 30, 2026
Derivative AssetDerivative Liability
Notional Amount
Fair Value 1
Notional AmountFair Value
Interest rate cap (SOFR-based)
$456,690 $2,091 $— $— 
Interest rate swap (SOFR-based)
$287,500 $2,281 $— $— 
Total derivatives, net$744,190 $4,372 $— $— 

1 Of this amount, $0.3 million is presented on the condensed balance sheet as Current assets - derivative assets and $4.1 million is Other assets, net.
December 31, 2025
Derivative AssetDerivative Liability
Notional AmountFair ValueNotional AmountFair Value
Interest rate cap (SOFR-based)
$194,190 $72 $— $— 
Total derivatives, net$194,190 $72 $— $— 
Schedule of Derivative Instruments in the Statement of Operations
The following table presents the effect of the derivative instruments on the condensed consolidated statements of operations (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Derivative not designated as hedge
Gain (loss) on derivatives not designated as hedges included in interest expense$2,664 $(291)$3,057 $(781)