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DERIVATIVE AND HEDGING INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amount of Derivatives Instruments
The following presents the notional amount of derivative instruments as of the dates indicated (in thousands):
September 30, 2025December 31, 2024
Derivatives designated as cash flow hedges:
Denominated in U.S. Dollars$930,000 $430,000 
Denominated in Canadian Dollars$150,000 $150,000 
Derivatives designated as net investment hedges:
Denominated in Canadian Dollars$— $46,270 
Financial instruments designated as net investment hedges:
Denominated in Canadian Dollars$183,700 $189,600 
Derivatives not designated as net investment hedges:
Denominated in Canadian Dollars$— $10,030 
Schedule of Derivative and Financial Instruments Designated as Hedging Instruments
The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at September 30, 2025 and December 31, 2024 (dollars in thousands):
Count as of September 30, 2025
Fair Value as of
Maturity Dates as of September 30, 2025
TypeDesignationSeptember 30, 2025December 31, 2024Balance Sheet Location
Assets:
Interest rate swapsCash flow4 $3,819 $14,085 2028Accounts receivable, prepaid expenses and other assets, net
Cross currency interest rate swapsNet investment— — 6,290 —Accounts receivable, prepaid expenses and other assets, net
$3,819 $20,375 
Liabilities:
Interest rate swapsCash flow7 $2,350 $— 2028 - 2030Accounts payable and accrued liabilities
CAD borrowings under Revolving Credit FacilityNet investment1 24,213 27,554 2027Revolving credit facility
CAD Term LoanNet investment1 107,775 104,370 2028Term loans, net
$134,338 $131,924 
Schedule of Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of (Loss) Income and Condensed Consolidated Statements of Equity
The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the consolidated statements of income and the consolidated statements of equity for the three and nine months ended September 30, 2025 and 2024 (in thousands):
Gain (Loss) Recognized in Other Comprehensive Loss
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Cash Flow Hedges:
Interest rate products$329 $(12,932)$(6,867)$1,609 
Net Investment Hedges:
Foreign currency products— (312)(1,418)982 
CAD borrowings under Revolving Credit Facility512 (699)(46)(1,156)
CAD Term Loan2,085 (1,320)(3,405)2,205 
$2,926 $(15,263)$(11,736)$3,640 
Gain Reclassified from Accumulated Other Comprehensive (Loss) Income into Income
Three Months Ended September 30,Nine Months Ended September 30,
Income Statement Location2025202420252024
Cash Flow Hedges:
Interest rate productsInterest expense$2,127 $2,531 $4,839 $7,369 
Schedule of Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives - Assets The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2025 and December 31, 2024 (in thousands):
As of September 30, 2025
Gross Amounts of Recognized Assets / LiabilitiesGross Amounts Offset in the Balance SheetNet Amounts of Assets / Liabilities Presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
Financial InstrumentsCash Collateral ReceivedNet Amount
Offsetting Assets:
Derivatives$3,819 $— $3,819 $(447)$— $3,372 
Offsetting Liabilities:
Derivatives$2,350 $— $2,350 $(447)$— $1,903 
As of December 31, 2024
Gross Amounts of Recognized Assets / LiabilitiesGross Amounts Offset in the Balance SheetNet Amounts of Assets / Liabilities Presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
Financial InstrumentsCash Collateral ReceivedNet Amount
Offsetting Assets:
Derivatives$20,375 $— $20,375 $— $— $20,375 
Offsetting Liabilities:
Derivatives$— $— $— $— $— $— 
Schedule of Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives - Liabilities The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2025 and December 31, 2024 (in thousands):
As of September 30, 2025
Gross Amounts of Recognized Assets / LiabilitiesGross Amounts Offset in the Balance SheetNet Amounts of Assets / Liabilities Presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
Financial InstrumentsCash Collateral ReceivedNet Amount
Offsetting Assets:
Derivatives$3,819 $— $3,819 $(447)$— $3,372 
Offsetting Liabilities:
Derivatives$2,350 $— $2,350 $(447)$— $1,903 
As of December 31, 2024
Gross Amounts of Recognized Assets / LiabilitiesGross Amounts Offset in the Balance SheetNet Amounts of Assets / Liabilities Presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
Financial InstrumentsCash Collateral ReceivedNet Amount
Offsetting Assets:
Derivatives$20,375 $— $20,375 $— $— $20,375 
Offsetting Liabilities:
Derivatives$— $— $— $— $— $—