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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments

The following table displays the total notional amount of the Company’s outstanding fixed-rate interest swap agreements:

Derivatives in Cash Flow Hedging Relationships						As of March 31,						As of December 31,
						2025						2024
						(in thousands)
Interest rate contracts						$	425,000					$	425,000

The following table displays the total fair value of the Company’s outstanding fixed-rate interest swap agreements in the Consolidated Balance Sheets:

												Derivative Assets
Derivatives in Cash Flow Hedging Relationships												As of March 31,						As of December 31,
						Balance Sheet Location						2025						2024
												(in thousands)
Interest rate contracts						Other assets						$	6,564					$	10,989

												Derivative Liabilities
Derivatives in Cash Flow Hedging Relationships												As of March 31,						As of December 31,
						Balance Sheet Location						2025						2024
												(in thousands)
Interest rate contracts						Accounts payable and accrued expenses						$	985					$	—

Schedule of Information About Financial Statement Effects Related to Cash Flow Hedges

The following table provides additional information about the financial statement effects related to the cash flow hedges for the three months ended March 31, 2025 and 2024:

Derivatives in Cash Flow Hedging Relationships						Amount of Loss Recognized in OCI on Derivatives (Effective Portion)
						Three months ended March 31,
						2025						2024
						(in thousands)
Interest rate contracts						$	(5,431)					$	(1,017)
Total						$	(5,431)					$	(1,017)

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- References

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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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

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