Derivatives (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Amounts Paid and Received on Interest Rate Swap Transactions, Excluding Upfront Fees

The following table presents the amounts paid and received on the Company’s interest rate swap transactions, excluding upfront fees, for the three months ended March 31, 2025 and three months ended March 31, 2024:

				For the three months ended March 31, 2025
	Maturity Date	Notional Amount		Paid			Received		Net
Interest rate swap	3/11/2029	$	600,000	$	(10,193	)	$	9,750	$	(443	)
Interest rate swap	3/11/2029		150,000		(2,442	)		2,438		(4	)
Interest rate swap	1/15/2030		600,000		(10,245	)		8,625		(1,620	)
Interest rate swap	7/15/2030		750,000		(9,400	)		9,187		(213	)
Total		$	2,100,000	$	(32,280	)	$	30,000	$	(2,280	)

				For the three months ended March 31, 2024
	Maturity Date	Notional Amount		Paid			Received		Net
Interest rate swap	3/11/2029	$	600,000	$	(1,826	)	$	1,517	$	(309	)
Total		$	600,000	$	(1,826	)	$	1,517	$	(309	)

For the three months ended March 31, 2025, the Company recognized $34.8 million of unrealized gains on interest rate swaps designated as hedging instruments in the Consolidated Statements of Operations. For the three months ended March 31, 2025, this amount was offset by a $10.2 million increase in the carrying value of the 2029 Notes. For the three months ended March 31, 2025, this amount was offset by a $10.4 million increase in the carrying value of the January 2030 Notes. For the three months ended March 31, 2025, this amount was offset by a $14.2 million increase in the carrying value of the July 2030 Notes.