Derivatives (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Summarizing Terms of Entity's Derivative Financial Instruments

The following table summarizes the terms of the Company’s 13 active derivative financial instruments, which had a total current notional amount of $1,381,834 as of December 31, 2024, and one forward-starting derivative financial instruments with an effective date of July 14, 2025.

 

Hedge Product	Range of Notional Amounts	Strike	Effective Dates	Maturity Dates
Swap Agreements	$32,000 - $245,000	0.96% - 4.33%	11/30/2022 - 7/14/2025	1/30/2025 - 2/1/2028

Schedule of Balance Sheet Classification and Fair Value of Entity's Derivative Financial Instruments

The table below presents the fair values of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets:

	Asset / Liability Derivatives
Derivatives designated as hedging instruments:	December 31, 2024		December 31, 2023
Other assets	$	15,733	$	26,183
Other liabilities	$	710	$	5,030

Schedule of Information Relating to Gain (Loss) Recognized on Swap Agreements

The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations for the periods presented. No tax effect has been presented as the derivative instruments are held by the Company:

 

	Gain (loss) recognized in OCI for the Year Ended December 31,				Location of amounts reclassified from OCI into income	Gain (loss) reclassified from OCI for the Year Ended December 31,
Type	2024		2023			2024		2023		2022
Swap Agreements	$	22,141	$	8,730	Interest expense	$	26,885	$	41,541	$	(7,877)