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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Assets and Derivative Liabilities
The fair value of derivative instruments is presented in the Consolidated Balance Sheets, as follows (in thousands):
December 31,
Balance Sheet Location20252024
Derivatives designated as hedging instruments
Interest rate swap asset (short-term)Prepaid expenses and other current assets$42 $5,861 
Interest rate swap asset (long-term)Other assets$— $3,387 
Interest rate swap liability (short-term)Accrued and other current liabilities$886 $— 
Interest rate swap liability (long-term)Other long-term liabilities$308 $137 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income
The following table presents the gross changes in AOCI from the Company’s cash flow hedges (in thousands).
202520242023
Beginning balance$9,111 $22,166 $39,556 
Unrealized (loss) gain recognized in AOCI(3,296)14,7897,512
Gain reclassified from AOCI to Interest expense(6,967)(27,844)(24,902)
Other comprehensive loss(10,263)(13,055)(17,390)
Ending balance(1,152)9,111 22,166 
Noncontrolling interests(454)— — 
Accumulated (loss) gain in AOCI$(698)$9,111 $22,166 
Schedule of Interest Rate Swap Agreements
The following table provides additional details related to the interest rate swap agreements, as amended, that are in effect as of December 31, 2025 (notional in thousands):
Effective Date (1)
Maturity Date
Notional Amount (2)
Fixed Interest Rate (3)
February 28, 2023December 31, 2026$337,5003.4396%
February 28, 2023December 31, 2026$337,5003.3750%
January 31, 2024December 31, 2026
$110,000 — $140,000
4.0433%
December 31, 2026December 31, 2027$200,0003.2480%
December 31, 2026December 31, 2027$200,0003.2480%
(1)The interest rate swaps with effective dates of December 31, 2026 were added during July 2025 and are not included in the notional amount as of December 31, 2025.
(2)For interest rate swaps with ranges, the notional amount is $140,000 from January 31, 2024 to September 14, 2025 and $110,000 from September 15, 2025 to December 31, 2026, due to a $30.0 million reduction in notional amount in connection with the debt prepayment on September 15, 2025.
(3)Payments will be made to the Company if the one-month SOFR exceeds the fixed interest rates for the respective interest rate swaps.
The following table provides additional details related to the interest rate swap agreements, as amended, that are in effect as of December 31, 2024 (notional in thousands):
Effective DateMaturity Date
Notional Amount (1)
Fixed Interest Rate (2)
February 28, 2023January 31, 2025$350,0000.8325%
February 28, 2023January 31, 2025$109,0001.1740%
February 28, 2023January 31, 2025$109,0001.1732%
February 28, 2023December 31, 2026
$53,500 — $337,500
3.4396%
February 28, 2023December 31, 2026
$53,500 — $337,500
3.3750%
January 31, 2024December 31, 2026$140,0004.0433%
(1)For interest rate swaps with ranges, the notional amount is $53,500 from January 31, 2023 to January 31, 2025 and $337,500 from February 1, 2025 to December 31, 2026.
(2)Payments will be made to the Company if the one-month SOFR exceeds the fixed interest rates for the respective interest rate swaps.
The following table provides additional details related to the interest rate swap agreements in effect as of December 31, 2023 (notional in thousands):
Effective DateMaturity Date
Notional Amount (1)
Fixed Interest Rate (2)
February 28, 2023January 31, 2025$350,0000.8325%
February 28, 2023January 31, 2025$109,0001.1740%
February 28, 2023January 31, 2025$109,0001.1732%
February 28, 2023December 31, 2026
$53,500 — $337,500
3.4396%
February 28, 2023December 31, 2026
$53,500 — $337,500
3.3750%
(1)For interest rate swaps with ranges, the notional amount is $53,500 from January 31, 2023 to January 31, 2025 and $337,500 from February 1, 2025 to December 31, 2026.
(2)Payments will be made to the Company if the one-month SOFR exceeds the fixed interest rates for the respective interest rate swaps.
The following interest rate swap agreements were added in March 2026 (notional in thousands):
Effective DateMaturity DateNotional Amount
Fixed Interest Rate (1)
December 31, 2026December 31, 2028$100,0003.4581%
December 31, 2026December 31, 2028$100,0003.6995%
(1)Payments will be made to the Company if the one-month SOFR exceeds the fixed interest rates for the respective interest rate swaps.