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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Interest Rate Derivatives Outstanding | Detail on the Company's interest rate derivatives outstanding as of September 30, 2024 and December 31, 2023 is as follows:
|  | Number of Instruments |
Interest Rate Swaps |  | September 30, 2024 |  |  | December 31, 2023 |
Notional amount |  | $ | 308,488 |  |  |  | 294,928 |
Number of instruments |  |  | 15 |  |  |  | 15 |
Schedule of Fair Value of Interest Rate Derivatives | Detail on the fair value of the Company's interest rate derivatives as of September 30, 2024 and December 31, 2023 is as follows:
(in thousands) |  | Fair Value |
Interest rate swaps classified as: |  | September 30, 2024 |  |  | December 31, 2023 |
Derivative assets |  | $ | 9,511 |  |  |  | 14,213 |
Derivative liabilities |  |  | (1,994 | ) |  |  | (1,335 | )
Derivative Instruments, Gain (Loss) | The following table represents the effect of the derivative financial instruments on the accompanying Consolidated Financial Statements:
Location and Amount of Gain (Loss) Recognized in OCI on Derivative |  |  | Location and Amount of Gain (Loss) Reclassified from AOCI into Income |  |  | Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded |
|  | Three months ended September 30, |  |  |  |  | Three months ended September 30, |  |  |  |  | Three months ended September 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  |  |  | 2024 |  |  | 2023 |  |  |  |  | 2024 |  |  | 2023 |
Interest rate swaps |  | $ | (9,305 | ) |  |  | 4,606 |  |  | Interest income |  | $ | (2,306 | ) |  |  | (2,161 | ) |  | Interest expense, net |  | $ | 47,022 |  |  |  | 38,807 |
|  | Nine months ended September 30, |  |  |  |  | Nine months ended September 30, |  |  |  |  | Nine months ended September 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  |  |  | 2024 |  |  | 2023 |  |  |  |  | 2024 |  |  | 2023 |
Interest rate swaps |  | $ | 2,412 |  |  |  | 7,327 |  |  | Interest income |  | $ | (7,113 | ) |  |  | (5,302 | ) |  | Interest expense, net |  | $ | 133,068 |  |  |  | 112,156 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: 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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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