v3.26.3
Derivatives (Tables)
 9 Months Ended
Sep. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives
We have entered into, and subsequently settled, the following forward-starting interest rate swap agreements and U.S. Treasury Rate Lock agreements to hedge against changes in future cash flows resulting from changes in interest rates from the trade date through the forecasted issuance of the respective senior unsecured notes. In each case, the derivatives were designated as cash flow hedges and, accordingly, the unrealized gain in Accumulated other comprehensive income is amortized over the term of the respective derivative instruments, which matches that of the underlying note, as a reduction in interest expense.
($ In thousands)
Notes OfferingSettlement PeriodInstrumentNumber of InstrumentsNotional AmountTotal Net Proceeds/(Payments)
August 2026 NotesAugust 2026Forward-starting interest rate swap12$600,000 $20,901 
August 2026 NotesAugust 2026U.S. Treasury Rate Lock4500,000 (942)
April 2025 NotesMarch 2025Forward-starting interest rate swap12600,000 192 
April 2025 NotesMarch 2025U.S. Treasury Rate Lock3150,000 1,575 
December 2024 NotesDecember 2024Forward-starting interest rate swap7350,000 7,173 
December 2024 NotesDecember 2024U.S. Treasury Rate Lock5300,000 (398)
March 2024 NotesMarch 2024Forward-starting interest rate swap7500,000 2,543 
April 2022 NotesApril 2022Forward-starting interest rate swap52,500,000 202,289 
April 2022 NotesApril 2022U.S. Treasury Rate Lock2500,000 4,549 
The following table presents the effect of our forward-starting derivative financial instruments on our Statement of Operations:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands)2026202520262025
Unrealized gain (loss) recorded in other comprehensive income$7,081 $— $19,959 $(5,949)
Reduction in interest expense related to the amortization of the forward-starting interest rate swaps and treasury locks(6,640)(6,389)(19,418)(19,120)