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Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
Financial instruments which are measured at fair value, or for which a fair value is disclosed, are classified in the fair value hierarchy, as outlined below, on the basis of the observability of the inputs used in the fair value measurement:
•Level 1 – inputs are based upon quoted prices for identical instruments in active markets.
•Level 2 – inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data.
•Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the instrument.
The Company’s interest rate cap contract is recorded at its fair value in the consolidated balance sheets on a recurring basis. The fair value of the interest rate cap contract is based upon a model-derived valuation using observable market inputs, such as interest rates and interest rate volatility, and the strike price.
Financial InstrumentBalance Sheet ClassificationLevelDecember 31, 2025
(in thousands)
Liability:
Interest rate cap contract, current portionAccrued otherLevel 2$3,223 
Interest rate cap contract, non-current portionOther non-current liabilitiesLevel 23,042 
The Company does not measure its indebtedness at fair value in its consolidated balance sheets. The fair value of the credit facilities is based on quoted market prices for this debt in the syndicated loan market. The fair value of the senior notes is based on quoted market prices. The carrying value of the Company’s other debt, as disclosed in Note 12 – Long-Term Debt and Notes Payable, approximates fair value.
December 31, 2024December 31, 2025
Financial InstrumentLevelCarrying ValueFair ValueCarrying ValueFair Value
(in thousands)
6.250% senior notes due 2032
Level 2539,363 528,000 540,695 537,262 
Credit facilities:
Revolving facilityLevel 2105,000 102,900 100,000 98,500 
Term loanLevel 21,041,661 1,051,313 1,032,400 1,036,901 
The Company’s other financial instruments, which primarily consist of cash and cash equivalents, accounts receivable, and accounts payable approximate fair value because of the short-term maturities of these instruments.