Financial Instruments |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Instruments | Financial Instruments The Company uses an interest rate swap to manage its exposure to market risks for changes in interest rates. Changes in fair value will be recognized in other comprehensive loss and reclassified to interest expense, net, in the period in which the hedged transaction affects earnings. During the three and nine months ended September 30, 2026, the Company reclassified a net loss (increase in interest expense) of $2.9 million and $8.7 million, respectively, from accumulated other comprehensive loss. As of September 30, 2026, a net gain of $21.9 million was recorded in accumulated other comprehensive loss associated with the impact of all interest rates swaps, with $7.6 million, net, expected to be reclassified within 12 months. Refer to Note 19. Stockholders’ Equity (Deficiency) in this Quarterly Report on Form 10-Q and Note 18. Financial Instruments in the Company’s 2025 Annual Report on Form 10-K for defined terms and additional information. During the three and nine months ended September 30, 2025, the Company reclassified a net loss of $4.2 million (increase in interest expense, net) and net gain of $1.7 million (decrease in interest expense, net), respectively, from accumulated other comprehensive loss. As of December 31, 2025, $14.8 million in net losses were recorded in accumulated other comprehensive loss. A summary of the fair values of derivative instruments in the consolidated balance sheets was as follows (in thousands):
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