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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the terms and fair values of our derivative financial instruments, as well as their classifications within the consolidated balance sheets (notional amounts and fair values in thousands):
Fair Value
Effective DateMaturity DateNotional AmountBank Pay RateCompany Fixed Pay RateSeptember 30, 2025December 31, 2024
Assets (Liabilities)(1):
Current Derivatives
February 1, 2024February 1, 202675,000 Daily SOFR3.5 %$122 $510 
February 1, 2024August 1, 202675,000 Daily SOFR3.7 %(37)364 
February 1, 2024January 1, 2027175,000 Daily SOFR4.2 %(1,446)(554)
May 1, 2025April 24, 202961,700 Daily SOFR3.5 %(448)— 
Total$386,700 3.8 %$(1,809)$320 
Forward Starting Derivatives
February 1, 2026April 1, 202875,000 Daily SOFR3.3 %(154)— 
August 1, 2026October 1, 202750,000 Daily SOFR3.1 %(8)— 
August 1, 2026April 1, 202825,000 Daily SOFR3.1 %8 — 
Total$150,000 3.2 %$(154)$— 
(1)    Asset balances are recorded in prepaids and other assets on the consolidated balance sheets and liabilities are recorded in other liabilities on the consolidated balance sheets.

The derivative financial instruments are comprised of interest rate swaps, which are designated and qualify as cash flow hedges, with various counterparties. We do not use derivatives for trading or speculative purposes and currently do not have any derivatives that are not designated as hedges.

Changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated other comprehensive loss and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements (in thousands):
Three months ended September 30,Nine months ended September 30,
2025202420252024
Interest Rate Swaps (Effective Portion):
Amount of gain (loss) recognized in other comprehensive income (loss)$(186)$(6,894)$(2,284)$(3,007)