Derivatives (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the terms and fair value of the Company’s derivative financial instruments as of June 30, 2024 (amounts in thousands):

Instrument	Number of Swap Agreements	Associated Debt Instrument	Maturity Date	Notional Amount (1)		Fair Value as of June 30, 2024 (2)
Interest rate swap	1	$200.0 Million Term Loan	Jan-29	$	200,000	$	3,510
Interest rate swaps	3	$50.0 Million Term Loan	Nov-26		50,000		583
Interest rate swaps	3	$100.0 Million Term Loan	Feb-27		100,000		1,241
Interest rate swaps	7	$50.0 Million Term Loan	Aug-27		50,000		730
Interest rate swaps	7	$110.0 Million Term Loan	Feb-28		110,000		1,756
				$	510,000	$	7,820

(1)These interest rate swap agreements have an effective date of January 2, 2024 and utilize a 1-month SOFR CME index.

(2)Included within Other assets on the Company’s Condensed Consolidated Balance Sheets.

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The table below details the location in the financial statements of the gain/(loss) recognized on interest rate swaps designated as cash flow hedges for the three and six months ended June 30, 2024 (amounts in thousands):

	Three Months Ended June 30, 2024			Six Months Ended June 30, 2024
Amount of gain recognized in AOCI on interest rate swaps	$	3,445		$	11,982
Amount reclassified from AOCI into income as Interest expense	$	2,084		$	4,162
Total amount of Interest expense presented in the Condensed Consolidated    Statements of Income in which the effects of cash flow hedges    are being recorded	$	(73,341	)	$	(147,906	)