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Financial Instruments and Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Fair value measurements for assets and liabilities at fair value on recurring basis | The following table presents assets and liabilities measured at fair value on a recurring basis at June 30, 2024 and December 31, 2023:
|  | June 30, 2024 |  | December 31, 2023
(In thousands) |  | Level 2 |  | Level 3 |  | Measured at NAV |  | Total |  | Level 2 |  | Level 3 |  |  | Total
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities AFS |  | $ | 1,725 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,725 |  |  | $ | 2,095 |  |  | $ | — |  |  |  | $ | 2,095 |
Equity securities |  | — |  |  | — |  |  | 4,960 |  |  | 4,960 |  |  | 6,447 |  |  | 2,966 |  |  |  | 9,413 |
Interest rate swaps |  | 7,241 |  |  | — |  |  | — |  |  | 7,241 |  |  | 4,385 |  |  | — |  |  |  | 4,385 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | — |  |  | — |  |  | — |  |  | — |  |  | 900 |  |  | — |  |  |  | 900 |
Summary of equity securities classified as Level 3 assets | The following table presents the changes in equity securities classified as Level 3 assets:
(In thousands) | Equity Securities
Balance at December 31, 2023 | $ | 2,966 |
Disposition of equity securities | (5,487) |
Change in fair value of equity securities, recognized through Other income, net | 2,521 |
Balance at June 30, 2024 | $ | — |
Summary of carrying value and estimated fair values for financial instruments | The following table presents the carrying value and estimated fair value for financial instruments at June 30, 2024 and December 31, 2023:
|  | June 30, 2024 |  | December 31, 2023
(In thousands) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Financial liabilities: |  |  |  |  |  |  |  |
2027 Term A Loan Facility |  | 438,021 |  |  | 443,745 |  |  | 449,450 |  |  | 452,337 |
2030 Term B Loan Facility |  | 521,847 |  |  | 542,700 |  |  | 521,240 |  |  | 539,325 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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