Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swap

As of September 30, 2025, the Company had 11 interest rate swaps with a total notional amount of $290.0 million that are used to manage its interest rate risk and fix the SOFR component on the term loans of the Credit Facilities:

Notional Amount ($ in thousands)	Fixed Rate (1)	Effective Date	Maturity Date
$50,000	2.191%	May 2022	January 2027
$25,000	4.137%	May 2022	February 2028
$25,000	4.137%	May 2022	February 2028
$25,000	4.710%	July 2022	February 2028
$40,000	4.852%	December 2022	February 2028
$25,000	5.656%	July 2023	January 2027
$10,000	5.969%	September 2023	February 2028
$40,000	5.191%	October 2024	February 2028
$10,000	5.472%	November 2024	February 2028
$10,000	4.755%	September 2025	January 2030
$30,000	4.723%	September 2025	January 2030

Explanatory Note:

(1)Reflects the all-in effective interest rate for the specified portion of the Term Loans hedged by the interest rate swaps.

The table below presents the effect of the Company’s interest rate swap derivative instruments in the Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended September 30, 2025 and 2024 (in thousands):

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Derivatives in Cash Flow Hedging Relationships (Interest Rate Swaps)	2025		2024		2025		2024
Amount of (loss) gain recognized on derivative in "Accumulated other comprehensive income"	$	370	$	(4,456)	$	(2,327)	$	1,035
Amount of income reclassified from "Accumulated other comprehensive income" into interest expense	$	903	$	1,319	$	2,675	$	3,977