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Derivative Instruments (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instrument Detail [Abstract] |
Gross Fair Values of Derivative Instruments on Condensed Consolidated Balance Sheets | The gross fair values of derivative instruments on our Condensed Consolidated Balance Sheets were as follows:
(in thousands) |  | Location |  | March 31, 2025 |  |  | December 31, 2024 |
Derivatives designated in cash flow hedging relationships: |
Interest rate contracts |  | Other assets, current 1 |  | $ | 585 |  |  | $ | — |
Interest rate contracts |  | Other assets, non-current |  |  | 118,183 |  |  |  | 138,354 |
|  |  |  | $ | 118,768 |  |  | $ | 138,354 |
1. Derivative instruments that mature within one year, as a whole, are classified as current.
Effect of Derivatives on Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income | The following table details the effect of derivatives on the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Comprehensive Income:
|  |  |  | Three Months Ended March 31, |
(in thousands) |  | Location |  | 2025 |  |  | 2024 |
Derivatives designated in cash flow hedging relationships: |  |  |  |
Interest rate contracts |  |  |  |  |  |  |  |
(Loss) income recognized in other comprehensive income (loss), net of tax |  |  |  | $ | (12,104 | ) |  | $ | 21,520 |
Amounts reclassified from accumulated other comprehensive income to income, net of tax 1 |  | Interest expense, net |  | $ | 4,505 |  |  | $ | 5,595 |
Interest expense, net |  |  |  | $ | (1,492 | ) |  | $ | 282 |
1. | Realized gains and losses on interest rate contracts consist of realized net cash received or paid and interest accruals on the interest rate swaps during the periods in addition to amortization of amounts out of other comprehensive income (loss) related to certain terminated hedges and adjustments to interest expense resulti ng from amortization of inception value of certain off-market designated hedges. For the three months ended March 31, 2025 and 2024, we amortized approximately $2.8 million and $2.6 million, respectively, of the off-market designated hedges which is inc luded in Other, net within operating activities in the Condensed Consolidated Statements of Cash Flows. Net cash received or paid is included within Interest expense, net in the Condensed Consolidated Statements of Operations.

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: 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 2: 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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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