Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instrument Detail [Abstract]

Effect of Derivatives on Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Loss)

The following table details the effect of derivatives on the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Comprehensive Income (Loss):

		Three Months Ended March 31,
(in thousands)	Location	2024		2023
Derivatives designated in cash flow hedging relationships:
Interest rate contracts
Income (loss) recognized in other comprehensive income (loss), net of tax		$	21,520	$	(13,591	)
Amounts reclassified from accumulated other comprehensive income to income, net of tax1	Interest expense, net	$	5,595	$	3,744
Interest expense, net		$	282	$	(199	)

1 Realized gains and losses on interest rate contracts consist of realized net cash received or paid and interest accruals on the interest rate swaps during the periods in addition to amortization of amounts out of other comprehensive income (loss) related to certain terminated hedges and adjustments to interest expense resulting from amortization of inception value of certain off-market designated hedges. For the three months ended March 31, 2024 and 2023, we amortized approximately $2.6 million and $2.5 million, respectively, of the off-market designated hedges which is included in Other, net within operating activities in the Condensed Consolidated Statements of Cash Flows. Net cash received or paid is included within Interest expense, net in the Condensed Consolidated Statements of Operations.