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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2025 and 2024:
NotionalFixed Base Interest Rate SwapEffective DateExpiration Date
Asset Fair Value as of December 31, 2025
Liability Fair Value as of December 31, 2025
(In thousands)
$200 million
3.05%12/29/20237/30/2027$736 $— 
$175 million
3.47%11/30/20227/30/2027— 493 
$270 million
3.05%11/01/202212/31/20271,170 — 
C$250 million
3.59%9/23/202212/31/2027— 2,910 
Total$1,906 $3,403 
NotionalFixed Base Interest Rate SwapEffective DateExpiration Date
Asset Fair Value as of December 31, 2024
Liability Fair Value as of December 31, 2024
(In thousands)
$200 million
3.05%12/29/20237/30/2027$4,651 $— 
$175 million
3.47%11/30/20227/30/20272,265 — 
$270 million
3.05%11/01/202212/31/20277,225 — 
C$250 million
3.59%9/23/202212/31/2027— 3,021 
Total$14,141 $3,021 
Summary of Derivative Results
The following table presents the fair value of the Company’s designated derivative financial instruments as of December 31, 2025 and 2024:
Derivative AssetsDerivative Liabilities
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Designated derivatives(In thousands)
Foreign exchange contracts$— $15,727 $— $— 
Interest rate contracts1,906 14,141 3,403 3,021 
Total fair value of derivatives$1,906 $29,868 $3,403 $3,021 
The following tables present the effect of the Company’s designated derivative financial instruments on the accompanying Consolidated Statements of Operations for the years ended December 31, 2025, 2024 and 2023, including the impacts to Accumulated other comprehensive loss (“AOCI”):
Amount of Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives
Years Ended December 31,
202520242023
(In thousands)
Interest rate swaps$(6,508)$17,431 $7,504 
Treasury locks1,292 — — 
Foreign currency exchange forwards
(1,493)— — 
Cross-currency swap(9,018)10,334 1,028 
Total designated derivative financial instruments$(15,727)$27,765 $8,532 
Location of Gain or (Loss) Reclassified from AOCI into EarningsAmount of Gain or (Loss) to Earnings from AOCI Reclassifications
Years Ended December 31,
202520242023
(In thousands)
Interest rate swapsInterest expense$6,109 $15,574 $13,825 
Interest rate swaps
Loss on debt extinguishment and termination of derivative instruments(1)
— (973)(2,513)
Treasury locksInterest expense137 — — 
Foreign currency exchange forwards
Foreign currency exchange loss, net(1,493)— — 
Cross-currency swapForeign currency exchange (loss) gain, net(7,762)9,371 200 
Cross-currency swapInterest expense340 506 374 
Total designated derivative financial instruments$(2,669)$24,478 $11,886 
(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 year ended December 31, 2024, the Company recorded an increase to “Loss on debt extinguishment and termination of derivative instruments” related to this transaction.