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Derivative Instruments and Hedging Activity (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activity |
Schedule of notional amounts of outstanding derivative positions | The Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (presented in thousands, except number of instruments):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of Instruments 1 | ​ | Notional Amount1
​ | ​ | March 31, | ​ | December 31, | ​ | March 31, | ​ | December 31,
Interest Rate Derivatives |  | 2024 |  | 2023 |  | 2024 |  | 2023
Interest rate swaps |  | 6 |  | 6 | ​ | $ | 500,000 | ​ | $ | 500,000
​ (1) Number of Instruments and total Notional Amount disclosed includes all interest rate swap agreements outstanding at the balance sheet date, including forward-starting swaps prior to their effective date. ​
Schedule of cash flow hedging instruments, as well as their classification in the Condensed Consolidated Balance Sheets | The table below presents the estimated fair value of the Company’s derivative financial instruments, as well as their classification in the condensed consolidated balance sheets (presented in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Asset Derivatives
​ | ​ | March 31, 2024 | ​ | December 31, 2023
Derivatives designated as cash flow hedges: |  | ​ |  |  | ​ |
Other Assets, net | ​ | $ | 7,095 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Liability Derivatives
​ | ​ | March 31, 2024 | ​ | December 31, 2023
Derivatives designated as cash flow hedges: |  | ​ |  |  | ​ |
Accounts Payable, Accrued Expenses, and Other Liabilities | ​ | $ | 53 | ​ | $ | 4,501
​
Schedule of cash flow hedges included in accumulated other comprehensive income (loss) | The table below presents the effect of the Company’s derivative financial instruments in the condensed consolidated statements of operations and other comprehensive income for the three months ended March 31, 2024 and 2023 (presented in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amount of Income/(Loss) | ​ | Location of Accumulated OCI | ​ | Amount Reclassified from | ​
​ | ​ | Recognized in | ​ | Reclassified from Accumulated | ​ | Accumulated OCI as a | ​
​ | ​ | OCI on Derivative | ​ | OCI into Income | ​ | (Reduction)/Increase in Interest Expense | ​
Three Months Ended March 31, | ​ | 2024 |  | 2023 |  | ​ |  | 2024 |  | 2023 | ​
Interest rate swaps | ​ | $ | 13,092 | ​ | $ | — |  | Interest expense | ​ | $ | (2,178) | ​ | $ | (629) | ​
​

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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