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Capital Structure (Tables) | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Schedule of accumulated other comprehensive income (loss) | The following table presents the changes in Other Comprehensive Income for the three months ended March 31, 2024 and 2023:
|  | Three Months Ended March 31, 2024
(in thousands) |  | AOCI Beginning Balance |  | Amounts recorded in AOCI |  | Amounts reclassified from AOCI to income |  | AOCI Ending Balance
Net change in unrealized cash flow hedges gains (losses) (1) |  | $ | 23,416 |  |  | $ | 9,682 |  |  | $ | (8,788) |  |  | $ | 24,310 |
Foreign exchange translation adjustment |  | (6,369) |  |  | (2,037) |  |  | — |  |  | (8,406) |
Total |  | $ | 17,047 |  |  | $ | 7,645 |  |  | $ | (8,788) |  |  | $ | 15,904 |
(1) Amounts reclassified from AOCI to income are included within Financing interest expense on long-term borrowings on the Consolidated Statements of Comprehensive Income. As of March 31, 2024, the Company expects approximately $28.4 million to be reclassified from AOCI into earnings over the next 12 months. The timing of the reclassification is based on the interest payment schedule of the long-term borrowings.
|  | Three Months Ended March 31, 2023
(in thousands) |  | AOCI Beginning Balance |  | Amounts recorded in AOCI |  | Amounts reclassified from AOCI to income |  | AOCI Ending Balance
Net change in unrealized cash flow hedges gains (losses) (1) |  | $ | 44,925 |  |  | $ | (1,330) |  |  | $ | (6,504) |  |  | $ | 37,091 |
Foreign exchange translation adjustment |  | (13,321) |  |  | 980 |  |  | — |  |  | (12,341) |
Total |  | $ | 31,604 |  |  | $ | (350) |  |  | $ | (6,504) |  |  | $ | 24,750 |
(1) Amounts reclassified from AOCI to income are included within Financing interest expense on long-term borrowings on the Consolidated Statements of Comprehensive Income.

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