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Subsequent Events
3 Months Ended
Mar. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
In connection with the preparation of the accompanying condensed consolidated financial statements, we have evaluated events and transactions occurring after March 31, 2023, for potential recognition or disclosure.
SOFR Conversion
On April 18, 2023, we amended the Credit Facility to convert the applicable interest rate from a LIBOR-based index to a SOFR-based index and converted the variable rate on our interest rate swap agreements from one month LIBOR to one month Term SOFR. In connection with these modifications, we elected to apply the optional expedients in ASU 2020-04 that enable us to consider the new swaps a continuation of the existing contracts and to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. As a result, the transition from LIBOR for these financial instruments is not expected to impact our hedge accounting or to have a material impact on our condensed consolidated financial statements.
Dividend Declaration
On April 27, 2023, our board of directors declared a dividend of $0.26 per share to stockholders of record on May 10, 2023, which is payable on May 26, 2023