| Schedule of Estimated Fair Value Positions of Derivative Contracts |
The following tables reflect the location and estimated fair value positions of derivative contracts at: | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | | December 31, 2025 | | Balance sheet location | | Outstanding notional amount | | Fair Value - Assets | | Fair Value - (Liabilities) | | | | | | | | | | | Derivatives Not Designated as Hedging Instruments | | Interest rate swap contracts | Derivative assets, current / Derivative assets / (Other current liabilities) / (Other noncurrent liabilities) | | $ | 999,302 | | | $ | 74,627 | | | $ | (2,817) | | | Total | | | $ | 999,302 | | | $ | 74,627 | | | $ | (2,817) | |
| | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | | December 31, 2024 | | Balance sheet location | | Outstanding notional amount | | Fair Value - Assets | | Fair Value - (Liabilities) | | Derivatives Not Designated as Hedging Instruments | | | | | | | | Interest rate swap contracts | Derivative assets, current / Derivative assets / (Other noncurrent liabilities) | | $ | 944,629 | | | $ | 112,339 | | | $ | (160) | | | Option to enter into interest rate swap contract | Derivative assets | | 242,203 | | | 3,788 | | | — | | | Total | | | $ | 1,186,832 | | | $ | 116,127 | | | $ | (160) | |
The following tables reflect the location and estimated fair value positions of derivative contracts at: | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | | March 31, 2026 | | Balance sheet location | | Outstanding notional amount | | Fair Value - Assets | | Fair Value - (Liabilities) | | | | | | | | | | | Derivatives Not Designated as Hedging Instruments | | Interest rate swap contracts | Derivative assets, current / Derivative assets / (Other current liabilities) / (Other noncurrent liabilities) | | $ | 994,365 | | | $ | 75,028 | | | $ | (2,574) | | | Total | | | $ | 994,365 | | | $ | 75,028 | | | $ | (2,574) | |
| | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | | December 31, 2025 | | Balance sheet location | | Outstanding notional amount | | Fair Value - Assets | | Fair Value - (Liabilities) | | Derivatives Not Designated as Hedging Instruments | | | | | | | | Interest rate swap contracts | Derivative assets, current / Derivative assets / (Other current liabilities) / (Other noncurrent liabilities) | | $ | 999,302 | | | $ | 74,627 | | | $ | (2,817) | | | | | | | | | | | Total | | | $ | 999,302 | | | $ | 74,627 | | | $ | (2,817) | |
|
| Schedule of Changes in Fair Value of Derivative Contracts |
The following table provides information on the changes in fair value of derivative contracts as recorded in the Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Operations: | | | | | | | | | | | | | | | | | | | Year ended December 31, 2025 | | (in thousands) | | | | | Derivatives Designated as Hedging Instruments | | Derivatives Not Designated as Hedging Instruments | | Consolidated Other Comprehensive Income (Loss) | | | | | | | | | Gain (loss) in other comprehensive income (loss) reclassified to earnings from termination of interest rate swaps, net | | | | | $ | (5,056) | | | $ | — | | | Amortization of derivatives | | | | | (6,333) | | | — | | | Less: Taxes on total net gain (loss) recognized in other comprehensive income (loss) | | | | | 2,999 | | | — | | | Consolidated Statements of Operations | | | | | | | | Interest income (expense), net | | | | | | | | | Change in fair value of interest rate swaps, net | | | | | — | | | (26,223) | | Gain on interest rate swaps, net(1) | | | | | — | | | 5,485 | |
| | | | | | | | | | | | | | | | | | | Year ended December 31, 2024 | | (in thousands) | | | | | Derivatives Designated as Hedging Instruments | | Derivatives Not Designated as Hedging Instruments | | Consolidated Other Comprehensive Income (Loss) | | | | | | | | | Gain (loss) recognized in other comprehensive income (loss) | | | | | $ | (13,870) | | | $ | — | | | Amortization of derivatives | | | | | (1,055) | | | — | | | Less: Taxes on total net gain (loss) recognized in other comprehensive income (loss) | | | | | 3,930 | | | — | | | | | | | | | | | Consolidated Statements of Operations | | | | | | | | Interest income (expense), net | | | | | | | | | Change in fair value of interest rate swaps, net | | | | | — | | | 44,748 | | Gain on interest rate swaps, net(1) | | | | | 1,410 | | | (54) | |
| | | | | | | | | | | | | | | | | | | Year ended December 31, 2023 | | (in thousands) | | | | | Derivatives Designated as Hedging Instruments | | Derivatives Not Designated as Hedging Instruments | | Consolidated Other Comprehensive (Loss) Income | | | | | | | | | Gain recognized in other comprehensive income | | | | | $ | (20,545) | | | $ | — | | | Amortization of off-market derivatives | | | | | 6,750 | | | — | | | Less: Taxes on total net gain recognized in other comprehensive income | | | | | 3,633 | | | — | | | | | | | | | | | Consolidated Statements of Operations | | | | | | | | | Change in fair value of interest rate swaps, net | | | | | 6,546 | | | 11,217 | | Loss on interest rate swaps, net(1) | | | | | 2,428 | | | — | |
__________________ (1)The Gain (loss) on interest rate swaps, net, represents gains and losses reclassified into earnings as a result of the discontinuance of cash flow hedges when the Company determines that it is probable that the original forecasted transactions will not occur by the end of the originally specified time period. The following table provides information on the changes in fair value of derivative contracts as recorded in the Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Operations: | | | | | | | | | | | | | | | | | | | Three months ended
March 31, 2026 | | (in thousands) | | | | | Derivatives Previously Designated as Hedging Instruments | | Derivatives Not Designated as Hedging Instruments | | Consolidated Other Comprehensive Income (Loss) | | | | | | | | | Gain (loss) in other comprehensive income (loss) reclassified to earnings from termination of interest rate swaps, net | | | | | $ | 42 | | | $ | — | | | Amortization of derivatives | | | | | (1,119) | | | — | | | Less: Taxes on total net gain (loss) recognized in other comprehensive income (loss) | | | | | 283 | | | — | | | | | | | | | | | Consolidated Statements of Operations | | | | | | | | Interest expense, net | | | | | | | | | Change in fair value of interest rate swaps, net | | | | | — | | | 645 | | Gain on interest rate swaps, net(1) | | | | | — | | | (42) | |
| | | | | | | | | | | | | | | | | | | Three months ended
March 31, 2025 | | (in thousands) | | | | | Derivatives Previously Designated as Hedging Instruments | | Derivatives Not Designated as Hedging Instruments | | Consolidated Other Comprehensive Income (Loss) | | | | | | | | | | | | | | | | | Amortization of derivatives | | | | | (1,693) | | | — | | | Less: Taxes on total net gain (loss) recognized in other comprehensive income (loss) | | | | | 446 | | | — | | | | | | | | | | | Consolidated Statements of Operations | | | | | | | | Interest expense, net | | | | | | | | | Change in fair value of interest rate swaps, net | | | | | — | | | (21,741) | | | | | | | | | |
__________________ (1)The Gain (loss) on interest rate swaps, net, represents gains and losses reclassified into earnings as a result of the discontinuance of cash flow hedges when the Company determines that it is probable that the original forecasted transactions will not occur by the end of the originally specified time period.
|