v3.26.3
Derivative Instruments and Hedging Activities
 9 Months Ended
Sep. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities
The Company's derivative instruments designated as cash flow hedges as of September 30, 2026 were as follows (in thousands):

Notional AmountPaid Fixed Rate Receive Variable RateSettlement and Termination
Interest rate swaps$150,0002.8%1-month term SOFRMonthly through October 31, 2027
Interest rate swap$100,0004.0%1-month term SOFRMonthly through July 31, 2029

The Company is party to fixed interest rate swap agreements designated as cash flow hedges to mitigate the risk of interest rate fluctuations on a portion of its floating rate debt. During the three months ended September 30, 2026, the Company entered into a new pay-fixed, receive-floating interest rate swap with a major financial institution for a notional amount of $100.0 million. This swap replaced a previous interest rate swap of the same notional amount, which matured on July 31, 2026. For the three and nine months ended September 30, 2026, the Company reclassified $0.2 million and $0.5 million, respectively, from accumulated other comprehensive income to interest expense, net. For the three and nine months ended September 30, 2025, the Company reclassified $0.5 million and $1.6 million, respectively, from accumulated other comprehensive income to interest expense, net. The Company estimates it will reclassify approximately $2.8 million of unrealized gains from accumulated other comprehensive income into earnings during the twelve months following September 30, 2026. See Note (11) "Fair Value Measurements" for the fair value of these interest rate swaps.