XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.25.3

Derivatives and Hedging Activities | 9 Months Ended
--- | ---
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives and Hedging Activities | Derivatives and Hedging Activities The following interest rate swaps have been designated as cash flow hedges (in thousands):
|  |  |  |  |  |  |  | Notional value at |  | Fair value at
Hedge type |  | Swap rate |  | Effective Date |  | Maturity Date |  | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
Swap-cash flow-Daily SOFR |  | 1.16% |  | September 2021 |  | September 2025 |  | $ | — |  |  | $ | 150,000 |  |  | $ | — |  |  | $ | 3,445 |
Swap-cash flow-Daily SOFR |  | 0.56% |  | July 2021 |  | January 2026 |  | 50,000 |  |  | 50,000 |  |  | 590 |  |  | 1,926 |
Swap-cash flow-Daily SOFR |  | 2.95% |  | April 2024 |  | April 2027 |  | 125,000 |  |  | 125,000 |  |  | 1,037 |  |  | 3,104 |
Swap-cash flow-Daily SOFR |  | 2.85% |  | April 2024 |  | April 2027 |  | 65,000 |  |  | 65,000 |  |  | 645 |  |  | 1,765 |
Swap-cash flow-Daily SOFR |  | 2.75% |  | April 2024 |  | April 2027 |  | 60,000 |  |  | 60,000 |  |  | 693 |  |  | 1,768 |
Swap-cash flow-Daily SOFR |  | 3.70% |  | July 2024 |  | July 2027 |  | 25,000 |  |  | 25,000 |  |  | (124) |  |  | 196 |
Swap-cash flow-Daily SOFR |  | 3.45% |  | July 2024 |  | July 2027 |  | 25,000 |  |  | 25,000 |  |  | (11) |  |  | 353 |
Swap-cash flow-Daily SOFR |  | 3.71% |  | July 2024 |  | July 2027 |  | 25,000 |  |  | 25,000 |  |  | (127) |  |  | 191 |
Swap-cash flow-Daily SOFR |  | 3.10% |  | July 2025 |  | July 2027 |  | 25,000 |  |  | — |  |  | 145 |  |  | — |
Swap-cash flow-Daily SOFR |  | 3.20% |  | January 2025 |  | January 2028 |  | 25,000 |  |  | 25,000 |  |  | 88 |  |  | 564 |
Swap-cash flow-Daily SOFR |  | 3.40% |  | January 2025 |  | January 2028 |  | 25,000 |  |  | 25,000 |  |  | (26) |  |  | 421 |
Swap-cash flow-Daily SOFR |  | 3.30% |  | October 2025 |  | October 2028 |  | 25,000 |  |  | — |  |  | (17) |  |  | — |
Swap-cash flow-Daily SOFR |  | 3.30% |  | January 2025 |  | January 2029 |  | 25,000 |  |  | 25,000 |  |  | 11 |  |  | 632 |
Swap-cash flow-Daily SOFR |  | 3.19% |  | January 2026 |  | January 2029 |  | 25,000 |  |  | — |  |  | 26 |  |  | — |
Swap-cash flow-Daily SOFR |  | 3.25% |  | January 2026 |  | January 2029 |  | 50,000 |  |  | — |  |  | (36) |  |  | — |
Swap-cash flow-Daily SOFR |  | 3.29% |  | January 2026 |  | January 2029 |  | 50,000 |  |  | — |  |  | (96) |  |  | — |
Swap-cash flow-Daily SOFR |  | 3.00% |  | April 2026 |  | April 2029 |  | 25,000 |  |  | — |  |  | 137 |  |  | — |
Swap-cash flow-Daily SOFR |  | 3.05% |  | April 2026 |  | April 2029 |  | 25,000 |  |  | — |  |  | 101 |  |  | — |
|  |  |  |  |  |  |  | $ | 675,000 |  |  | $ | 600,000 |  |  | $ | 3,036 |  |  | $ | 14,365 |
As of September 30, 2025 and December 31, 2024, the aggregate fair value of the interest rate swap assets of $3.5 million and $14.4 million, respectively, was included in prepaid expense and other assets in the accompanying consolidated balance sheets. As of September 30, 2025, the aggregate fair value of the interest rate swap liabilities of $0.4 million was included in accounts payable and other liabilities in the accompanying consolidated balance sheet. As of September 30, 2025 and December 31, 2024, there was approximately $2.9 million and $13.8 million, respectively, of unrealized gains included in accumulated other comprehensive income related to interest rate swaps. There was no ineffectiveness recorded during the three or nine month periods ended September 30, 2025 or 2024. For the three and nine months ended September 30, 2025, gains of approximately $2.5 million and $8.1 million, respectively, included in accumulated other comprehensive income were reclassified into interest expense for the interest rate swaps. For the three and nine months ended September 30, 2024, gains of approximately $4.9 million and $16.3 million, respectively, included in accumulated other comprehensive income were reclassified into interest expense for the interest rate swaps. Approximately $2.7 million of the unrealized gains included in accumulated other comprehensive income at September 30, 2025 is expected to be reclassified into earnings within the next 12 months.

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

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/815/tableOfContent + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration