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Derivatives (Tables) | 9 Months Ended
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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 th e 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 | )

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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