Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

Certain information related to our derivatives contracts is presented below (in thousands):

	Effective Date	Notional Amount		Fixed Rate		Cap		Floor		Index	Actual Termination Date
Swap contracts	3/3/2025	$	300,000	3.829	%					USD-SOFR rate	2/29/2028
Collar contracts	3/3/2025	$	300,000	—		4.500	%	3.001	%	USD-SOFR rate	2/29/2028

Schedule of derivative instruments, effect on other comprehensive income (loss)

The following table presents the pre-tax amounts of derivative gains or losses deferred into accumulated other comprehensive income and the income statement line item that will be affected when reclassified to earnings (in thousands):

		Three Months Ended March 31,
		2026		2025
Accumulated Other Comprehensive Income Component (OCI)	Location of Gains/(Losses) When Reclassified to Net Income/(Loss)	Gains/(Losses) Recognized in OCI Related to Derivatives Designated as Hedging Instruments
Cash flow hedges:
Swap contracts	Interest expense	$	2,230	$	(1,412)
Collar contracts	Interest expense	447		(884)
Total gains/(losses) recognized in statements of comprehensive income		$	2,677	$	(2,296)

Schedule of cash flow hedging instruments, statements of financial performance and financial position, location

The following table presents the pre-tax amounts of derivative gains or (losses) recorded to earnings and the affected income statement line items (in thousands):

	Three Months Ended March 31,
	2026		2025
	Interest expense
Total amounts presented in the condensed consolidated statements of income in which the following effects were recorded
(Losses)/gains related to derivatives designated as hedging instruments:
Cash flow hedges(1):
Swap contracts	$	(106)	$	115
Collar contracts(2)	—		—
Total (losses)/gains recognized in statements of income	$	(106)	$	115

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(1)    Represents the pre-tax amounts of derivative gains/(losses) reclassified from accumulated other comprehensive income to earnings.

(2)    As of the reporting date, the 1-month Term SOFR remains within the specified cap strike and floor strike bands. Consequently, there are no payments required to be exchanged under this agreement.