Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

The following table includes the key provisions of the Company’s interest rate swap agreements as of June 30, 2025 and December 31, 2024:

Notional	Fixed Base Interest Rate Swap	Effective Date	Expiration Date	Asset Fair Value as of June 30, 2025		Liability Fair Value as of June 30, 2025
				(In thousands)
$200 million	3.05%	12/29/2023	7/30/2027	$	1,510	$	—
$175 million	3.47%	11/30/2022	7/30/2027	—		160
$270 million	3.05%	11/01/2022	12/31/2027	2,146		—
C$250 million	3.59%	9/23/2022	12/31/2027	—		3,655
			Total	$	3,656	$	3,815

Notional	Fixed Base Interest Rate Swap	Effective Date	Expiration Date	Asset Fair Value as of December 31, 2024		Liability Fair Value as of December 31, 2024
				(In thousands)
$200 million	3.05%	12/29/2023	7/30/2027	$	4,651	$	—
$175 million	3.47%	11/30/2022	7/30/2027	2,265		—
$270 million	3.05%	11/01/2022	12/31/2027	7,225		—
C$250 million	3.59%	9/23/2022	12/31/2027	—		3,021
			Total	$	14,141	$	3,021

Summary of Derivative Results

The following table presents the fair value of the Company’s designated derivative financial instruments as of June 30, 2025 and December 31, 2024:

	Derivative Assets				Derivative Liabilities
	June 30, 2025		December 31, 2024		June 30, 2025		December 31, 2024
	(In thousands)
Designated derivatives
Foreign exchange contracts	$	9,489	$	15,727	$	—	$	—
Foreign currency exchange forwards	—		—		1,598		—
Interest rate contracts	3,656		14,141		3,815		3,021
Total fair value of derivatives	$	13,145	$	29,868	$	5,413	$	3,021

The following tables present the effect of the Company’s designated derivative financial instruments on the accompanying Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024, including the impacts to Accumulated other comprehensive loss (“AOCI”):

	Amount of Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives				Location of Gain or (Loss) Reclassified from AOCI into Earnings	Amount of Gain or (Loss) to Earnings from AOCI Reclassifications
	Three Months Ended June 30,					Three Months Ended June 30,
	2025		2024			2025		2024
	(In thousands)					(In thousands)
Interest rate swaps	$	(1,306)	$	4,273	Interest expense	$	1,653	$	4,288
					Loss on debt extinguishment and termination of derivative instruments(1)	—		(324)
Treasury locks					Interest expense	45		—
Foreign currency exchange forwards	(1,598)		—
Cross-currency swap	(5,266)		(1,698)		Foreign currency exchange loss, net	(5,126)		(2,387)
					Interest expense	50		62
Total designated derivative financial instruments	$	(8,170)	$	2,575		$	(3,378)	$	1,639

(1)In conjunction with the termination of interest rate swaps in 2020, the Company recorded amounts in Accumulated other comprehensive loss that were reclassified as an adjustment to earnings over the term of the original hedges and respective borrowings. During the three months ended June 30, 2024, the Company recorded an increase to “Loss on debt extinguishment and termination of derivative instruments” related to this transaction.

	Amount of Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives				Location of Gain or (Loss) Reclassified from AOCI into Earnings	Amount of Gain or (Loss) to Earnings from AOCI Reclassifications
	Six Months Ended June 30,					Six Months Ended June 30,
	2025		2024			2025		2024
	(In thousands)					(In thousands)
Interest rate swaps	$	(7,827)	$	21,479	Interest expense	$	3,452	$	8,663
					Loss on debt extinguishment and termination of derivative instruments(1)	—		(748)
Treasury locks	1,292		—		Interest expense	45		—
Foreign currency exchange forwards	(1,598)		—
Cross-currency swap	(7,806)		2,134		Foreign currency exchange (loss) gain, net	(6,021)		1,855
					Interest expense	213		207
Total designated derivative financial instruments	$	(15,939)	$	23,613		$	(2,311)	$	9,977

(1)In conjunction with the termination of interest rate swaps in 2020, the Company recorded amounts in Accumulated other comprehensive loss that were reclassified as an adjustment to earnings over the term of the original hedges and respective borrowings. During the six months ended June 30, 2024, the Company recorded an increase to “Loss on debt extinguishment and termination of derivative instruments” related to this transaction.