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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table summarizes the terms and fair values of our derivative financial instruments, as well as their classifications within the consolidated balance sheets (notional amounts and fair values in thousands):
|  |  |  |  |  |  |  |  |  | Fair Value
Effective Date |  | Maturity Date |  | Notional Amount |  | Bank Pay Rate |  | Company Fixed Pay Rate |  | September 30, 2025 |  | December 31, 2024
Assets (Liabilities)(1): |  |  |  |  |  |  |  |  |  |  |  |
Current Derivatives |  |  |  |  |  |  |  |  |  |  |  |
February 1, 2024 |  | February 1, 2026 |  | 75,000 |  |  | Daily SOFR |  | 3.5 | % |  | $ | 122 |  |  | $ | 510 |
February 1, 2024 |  | August 1, 2026 |  | 75,000 |  |  | Daily SOFR |  | 3.7 | % |  | (37) |  |  | 364 |
February 1, 2024 |  | January 1, 2027 |  | 175,000 |  |  | Daily SOFR |  | 4.2 | % |  | (1,446) |  |  | (554) |
May 1, 2025 |  | April 24, 2029 |  | 61,700 |  |  | Daily SOFR |  | 3.5 | % |  | (448) |  |  | — |
Total |  |  |  | $ | 386,700 |  |  |  |  | 3.8 | % |  | $ | (1,809) |  |  | $ | 320 |
Forward Starting Derivatives |  |  |  |  |  |  |  |  |  |  |  |
February 1, 2026 |  | April 1, 2028 |  | 75,000 |  |  | Daily SOFR |  | 3.3 | % |  | (154) |  |  | — |
August 1, 2026 |  | October 1, 2027 |  | 50,000 |  |  | Daily SOFR |  | 3.1 | % |  | (8) |  |  | — |
August 1, 2026 |  | April 1, 2028 |  | 25,000 |  |  | Daily SOFR |  | 3.1 | % |  | 8 |  |  | — |
Total |  |  |  | $ | 150,000 |  |  |  |  | 3.2 | % |  | $ | (154) |  |  | $ | — |
(1) Asset balances are recorded in prepaids and other assets on the consolidated balance sheets and liabilities are recorded in other liabilities on the consolidated balance sheets. The derivative financial instruments are comprised of interest rate swaps, which are designated and qualify as cash flow hedges, with various counterparties. We do not use derivatives for trading or speculative purposes and currently do not have any derivatives that are not designated as hedges. Changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in accumulated other comprehensive loss and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements (in thousands):
|  | Three months ended September 30, |  | Nine months ended September 30, |  |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Interest Rate Swaps (Effective Portion): |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain (loss) recognized in other comprehensive income (loss) |  | $ | (186) |  |  | $ | (6,894) |  |  | $ | (2,284) |  |  | $ | (3,007) |  |  |  |  |

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
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