XML 215 R37.htm IDEA: XBRL DOCUMENT
v3.25.3

Risk Management and Derivatives (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Risks and Uncertainties [Abstract] |
Derivative Financial Instruments Designated in Hedging Relationships | The table below presents the Company’s derivatives as well as their classification on the consolidated balance sheets as of September 30, 2025 and December 31, 2024 ($ in thousands):(1)(2)(3) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025 |  | December 31, 2024 |  | ​
​ | ​ | Fair | ​ | Fair | ​ | Balance Sheet
Derivative Type |  | Value | ​ | Value |  | Location
Assets |  | ​ |  |  | ​ |  |  |
Interest rate swaps | ​ | $ | 20,919 | ​ | $ | 45,439 |  | Deferred expenses and other assets, net
Total | ​ | $ | 20,919 | ​ | $ | 45,439 | ​ | ​
(1) | As of September 30, 2025, the Company has two interest rate swap derivatives outstanding that mature in April 2028 and have an aggregate $500.0 million notional amount, which hedge in-place floating-rate debt. The Company also has a designated derivative outstanding with a $150.0 million notional amount that matures in December 2025 that protects the Company against interest rate volatility with respect to future long-term debt with a tenor of approximately 30 years.
(2) | Over the next 12 months, the Company expects that $1.7 million related to cash flow hedges will be reclassified from “Accumulated other comprehensive income (loss)” as an increase to interest expense.
(3) | The fair value of the Company’s derivatives is estimated using valuation techniques utilized by a third-party specialist using observable inputs such as interest rates and contractual cash flow and are classified as Level 2 within the fair value hierarchy.
​
Derivative Instruments, Gain (Loss) | The table below presents the effect of the Company’s derivative financial instruments in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) for the three and nine months ended September 30, 2025 and 2024 ($ in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Amount of Gain
​ | ​ | ​ | ​ | Amount of Gain | ​ | (Loss) Reclassified
​ | ​ | ​ | ​ | (Loss) Recognized | ​ | from Accumulated
​ | ​ | ​ | ​ | in Accumulated | ​ | Other
​ | ​ | Location of Gain (Loss) | ​ | Other | ​ | Comprehensive
​ | ​ | When Recognized in | ​ | Comprehensive | ​ | Income into
Derivatives Designated in Hedging Relationships | ​ | Income |  | Income |  | Earnings
For the Three Months Ended September 30, 2025 |  |  |  | ​ |  |  | ​ |
Interest rate swaps |  | Interest expense | ​ | $ | (126) | ​ | $ | 552
For the Three Months Ended September 30, 2024 | ​ |  |  | ​ |  |  | ​ |
Interest rate swaps |  | Interest expense | ​ | $ | (28,855) | ​ | $ | 1,693
For the Nine Months Ended September 30, 2025 | ​ |  |  | ​ |  |  | ​ |
Interest rate swaps |  | Interest expense | ​ | $ | (6,339) | ​ | $ | 1,601
For the Nine Months Ended September 30, 2024 | ​ |  |  | ​ |  |  | ​ |
Interest rate swaps |  | Interest expense | ​ | $ | 14,023 | ​ | $ | 4,995
​

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: 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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: 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
Name: | us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration