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Derivatives and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Interest Rate Swaps and Interest Rate Caps Outstanding | The key terms of interest rate swaps and interest rate caps outstanding are presented below:
|  |  |  | June 30, 2024 |  | December 31, 2023 |  |
Description |  | Effective Date |  | Notional Amount (in millions) |  | Status |  | Notional Amount (in millions) |  | Status |  | Maturity Date
Pay-fixed swap |  | May 7, 2021 |  | $ | 435.0 |  |  | Active |  | $ | 435.0 |  |  | Active |  | March 31, 2025
Pay-fixed swap |  | May 7, 2021 |  | 330.0 |  |  | Active |  | 330.0 |  |  | Active |  | March 31, 2025
Pay-fixed swap |  | May 7, 2021 |  | 435.0 |  |  | Active |  | 435.0 |  |  | Active |  | March 31, 2025
Interest rate cap |  | September 30, 2021 |  | 147.5 |  |  | Active |  | 151.4 |  |  | Active |  | March 31, 2025
Interest rate cap |  | September 30, 2021 |  | 8.4 |  |  | Active |  | 8.7 |  |  | Active |  | March 31, 2025
Deferred premium cap |  | March 31, 2025 |  | 396.0 |  |  | Active |  | — |  |  | N/A |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 198.0 |  |  | Active |  | — |  |  | N/A |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 396.0 |  |  | Active |  | — |  |  | N/A |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 198.0 |  |  | Active |  | — |  |  | N/A |  | December 31, 2028
Deferred premium cap |  | March 31, 2025 |  | 198.0 |  |  | Active |  | — |  |  | N/A |  | December 31, 2028
|  |  |  | $ | 2,741.9 |  |  |  |  | $ | 1,360.1 |  |  |  |  |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the fair values of our derivatives and their location on the condensed consolidated balance sheets (in millions):
|  |  |  | June 30, 2024 |  | December 31, 2023
|  |  |  | Assets |  | Liabilities |  | Assets |  | Liabilities
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |
Interest rate caps (1) |  |  |  | $ | 4.2 |  |  | $ | — |  |  | $ | 6.0 |  |  | $ | — |
Interest rate swaps (1) |  |  |  | 36.1 |  |  | — |  |  | 51.4 |  |  | — |
Interest rate caps |  |  |  | — |  |  | 3.4 |  |  | — |  |  | — |
Interest rate swaps (2) (3) |  |  |  | — |  |  | 10.7 |  |  | — |  |  | 17.8 |
Total |  |  |  | $ | 40.3 |  |  | $ | 14.1 |  |  | $ | 57.4 |  |  | $ | 17.8 |
(1)Amounts were included in other current assets and other long-term assets on the condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively. (2)Amounts related to the financing component of the pay-fixed interest rate swaps. (3)Amounts were included in other current liabilities and other long-term liabilities on the condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively.
Schedule of Effect of Interest Rate Swaps | The following table presents the pre-tax effect of the interest rate swaps and caps on the Company's accumulated OCI and condensed consolidated statements of operations (in millions):
|  |  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30,
| Location |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |
Loss recognized in income | Other income, net |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 0.6 |
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |
Gain (loss) recognized in OCI (effective portion) |  |  | $ | (0.1) |  |  | $ | 21.9 |  |  |  |  | $ | 9.1 |  |  | $ | 16.7 |
Gain reclassified from accumulated OCI into income (effective portion) (1) | Interest expense, net |  | $ | (14.8) |  |  | $ | (8.0) |  |  |  |  | $ | (29.5) |  |  | $ | (14.1) |
(1)Includes amortization of accumulated OCI related to de-designated and terminated interest rate swaps of $5.3 million and $10.7 million for the three and six months ended June 30, 2023, respectively. There were no corresponding amounts for the three and six months ended June 30, 2024.

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: 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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