Fair Value Measurements

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

As of March 31, 2025 and December 31, 2024, the carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term maturities of the instruments.

The Company’s financial assets and liabilities recorded at fair value on a recurring basis include derivative instruments. The Company’s assets and liabilities recorded at fair value on a non-recurring basis include long-lived assets when events or changes in circumstances indicate that the carrying amounts may not be recoverable.

The Company’s assets and liabilities measured or disclosed at fair value are as follows:

		Fair Value
	Fair Value Hierarchy	March 31, 2025		December 31, 2024
		(In thousands)
Measured at fair value on a recurring basis:
Interest rate swap assets	Level 2	$	7,266	$	14,141
Interest rate swap liabilities	Level 2	$	4,465	$	3,021
Foreign exchange swap assets	Level 2	$	14,806	$	15,727
Measured at fair value on a non-recurring basis:
Certain previously impaired real estate assets	Level 3	$	—	$	25,394
Disclosed at fair value:
Public 5.409% Notes(1)	Level 2	$	484,808	$	478,950
Senior Unsecured Notes (excluding Public 5.409% Notes), Senior Unsecured Term Loans, and Senior Unsecured Revolving Credit Facility(1)	Level 3	$	2,946,698	$	2,660,494

(1)The carrying value of the Senior Unsecured Notes, Senior Unsecured Term Loans, and Senior Unsecured Revolving Credit Facility is disclosed in Note 4 - Debt to these Condensed Consolidated Financial Statements.