Derivatives (Tables)

9 Months Ended

Sep. 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 September 30, 2024 (amounts in thousands):

Instrument	Number of Swap Agreements	Associated Debt Instrument	Effective Date	Maturity Date	Notional Amount (1)			Fair Value (2)
Interest rate swap	1	$200.0 Million Term Loan	Jan-24	Jan-29	$	(200,000	)	$	(3,137	)
Interest rate swaps	3	$50.0 Million Term Loan	Jan-24	Nov-26		(50,000	)		(496	)
Interest rate swaps	3	$100.0 Million Term Loan	Jan-24	Feb-27		(100,000	)		(1,089	)
Interest rate swaps	7	$50.0 Million Term Loan	Jan-24	Aug-27		(50,000	)		(598	)
Interest rate swaps	7	$110.0 Million Term Loan	Jan-24	Feb-28		(110,000	)		(1,460	)
Interest rate swaps	4	$300.0 Million Term Loan	Jul-24	Jan-29		(300,000	)		(7,162	)
Interest rate swap	1	$50.0 Million Term Loan	Sept-24	Jan-29		(50,000	)		(288	)
					$	(860,000	)	$	(14,230	)

(1)These interest rate swap agreements utilize a 1-month SOFR CME index.

(2)Included within Other liabilities 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 nine months ended September 30, 2024 (amounts in thousands):

	Three Months Ended September 30, 2024			Nine Months Ended September 30, 2024
Amount of loss recognized in AOCI on interest rate swaps, net	$	(18,978	)	$	(6,996	)
Amount reclassified from AOCI into income as Interest expense	$	3,072		$	7,234
Total amount of Interest expense presented in the Condensed Consolidated    Statements of Income in which the effects of cash flow hedges    are being recorded	$	(76,216	)	$	(224,122	)