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Derivatives and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Interest Rate Derivatives | The following is a summary of our interest rate swaps that were designated as cash flow hedges of interest rate risk as of September 30, 2024 and December 31, 2023 (dollars in thousands):
| September 30, 2024 |  | December 31, 2023
Count | 3 |  |  | 4 |
Notional amount | $ | 475,000 |  |  | $ | 700,000 |
Fixed SOFR | 2.8% - 3.4% |  | 2.1% - 3.4%
Maturity date | 2025 - 2026 |  | 2024 - 2026
Weighted-average term (in years) | 1.5 |  | 1.5
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The table below details the nature of the gain and loss recognized on interest rate derivatives designated as cash flow hedges in the consolidated statements of operations (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Amount of (loss) gain recognized in Other Comprehensive Income | $ | (6,031) |  |  | $ | 4,367 |  |  | $ | 3,947 |  |  | $ | 14,477 |
Amount of gain reclassified from AOCI into Interest Expense, Net | (4,474) |  |  | (5,791) |  |  | (13,543) |  |  | (15,838) |

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -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 of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: 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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