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Derivatives and Hedging

12 Months Ended

Dec. 31, 2024

Derivatives and Hedging

Derivatives and Hedging

26. Derivatives and Hedging

Prior to the expiration of our interest rate swaps in March 2022, we used derivative instruments to manage our exposure to fluctuations in the variable interest rate of our Credit Facility. We did not use derivative instruments for trading or other speculative purposes.

The effect of our derivative instruments on our consolidated statements of operations is as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(in thousands)	​	2024			2023			2022
Total amount of interest expense in which the effects of cash flow hedges and undesignated interest rate swaps are recorded	​	$	—	​	$	—	​	$	101,259
​	​	​	​	​	​	​	​	​	​
Interest rate swaps designated as cash flow hedging instruments:	​	​	​	​	​	​	​	​	​
Pre-tax loss recognized in other comprehensive income	​	$	—	​	$	—	​	$	(512)
Pre-tax loss reclassified from accumulated other comprehensive loss into interest expense	​		—	​		—	​		(1,758)
​	​	​	​	​	​	​	​	​	​
Interest rate swaps not designated as hedging instruments:	​	​	​	​	​	​	​	​	​
Gain recognized in interest expense	​	$	—	​	$	—	​	$	523

​

See Note 18 (“Stockholders’ Equity”) for further details on our derivative instruments.

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- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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-Topic 815
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