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Derivative Financial Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following tables summarize our derivative financial instruments (dollars in thousands):
As of December 31, 2025
Number ofAggregate NotionalDerivative Assets
(included in Other Assets, net)
Derivative Liabilities
(included in Accrued Liabilities and Other)
InstrumentsAmountFair Value
Derivatives not designated as hedging instruments:
Interest rate swaps - pay-fixed, receive-floating17$5,150,000 $9,487 $(14,006)
Interest rate caps - net (1)10$1,493,720 $57 $(15)
(1)Interest rate caps, net, is inclusive of seven interest rate caps with an aggregate notional value of $4.5 billion, offset partially by three sold interest rate caps with an aggregate notional value of $3.0 billion.
As of December 31, 2024
Number ofAggregate NotionalDerivative Assets
(included in Other Assets, net)
Derivative Liabilities
(included in Accrued Liabilities and Other)
InstrumentsAmountFair Value
Derivatives not designated as hedging instruments:
Interest rate swaps - pay-fixed, receive-floating15$4,550,000 $10,177 $(10,111)
Interest rate caps - net (1)6$1,148,500 $11,025 $(5,763)
(1)Interest rate caps, net, is inclusive of four interest rate caps with an aggregate notional value of $4.1 billion, offset partially by two sold interest rate caps with an aggregate notional value of $3.0 billion.