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Capital Structure (Tables)
3 Months Ended
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 BalanceAmounts recorded
in AOCI
Amounts reclassified from AOCI to incomeAOCI 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 BalanceAmounts recorded
in AOCI
Amounts reclassified from AOCI to incomeAOCI 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.