Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt

The Company’s total outstanding borrowings are summarized in the table below (in thousands).

	December 31,
Description	2025		2024
2024 Credit Agreement - Revolving credit facility (1)	$	—	$	274,400
4.50% Senior Notes due 2028 (“2028 Notes”)	800,000		800,000
3.63% Senior Notes due 2029 (“2029 Notes”)	600,000		600,000
3.75% Senior Notes due 2030 (“2030 Notes”)	800,000		800,000
4.95% Senior Notes due 2031 (“2031 Notes”)	350,000		—
5.60% Senior Notes due 2035 (“2035 Notes”)	450,000		—
Other (2)	5,000		5,000
Principal amount outstanding (3)	3,005,000		2,479,400
Less: Deferred financing fees and unamortized discounts (4)	(23,326)		(19,485)
Net balance sheet carrying amount	$	2,981,674	$	2,459,915

(1)The Company had approximately $1.0 billion of available borrowing capacity on the 2024 Credit Agreement revolver (not including the expansion feature) as of December 31, 2025.

(2)Consists of a State of Connecticut economic development loan originated in 2019 with a 10-year maturity and bears interest at a fixed rate of 1.75%. The Company expects to repay the loan in 2026.

(3)The weighted average annual effective rate on the Company’s outstanding debt for 2025, including the effects of its interest rate swaps discussed below, was 4.66%.

(4)Deferred financing fees and unamortized discounts and are being amortized to Interest expense over the term of the related debt obligation.