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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Interest Rate Cap Agreements

The following table provides a summary of the Company’s interest rate cap agreements:

Financial instrument						Number of instruments						In effect as of December 31, 2025						Current notional amount of instruments in effect						Annuitized premium of instruments in effect						Cap rate in effect for all agreements at December 31, 2025
Interest rate caps						3						2						$	625,000					$	30,698					1.00		%

Fair Values of Derivative Instruments Held

The fair values of derivative instruments held as of December 31, 2025 and 2024, respectively are shown below:

												December 31,
						Balance sheet location						2025						2024
Derivative assets:
Derivatives designated as cash flow hedges:
Interest rate caps						Prepaid and other current assets						$	446					$	6,532
Interest rate caps						Other long-term assets						—						5,968
												446						12,500
Derivative not designated as hedging instrument:
Interest rate caps						Prepaid and other current assets						866						—
Total derivative assets												$	1,312					$	12,500
Derivative liabilities:
Derivatives designated as cash flow hedges:
Interest rate caps						Accrued liabilities						$	841					$	235
Interest rate caps						Other long-term liabilities						396						475
Total derivative liabilities												$	1,237					$	710

Effect of Derivative Instruments Designated as Cash Flow Hedges on AOCI

The following tables show the effect of the Company’s derivative instruments designated as cash flow hedges on AOCI and the consolidated statements of (loss) income for the years ended December 31, 2025, 2024 and 2023, respectively:

			Amount of (loss) gain recognized in other comprehensive income
			Years ended December 31,
			2025						2024						2023
Interest rate caps			$	(4,287)					$	13,672					$	5,419
			Amount of loss reclassified from AOCI
			Years ended December 31,
			2025						2024						2023
Interest rate caps			$	(8,208)					$	(17,197)					$	(22,731)
			Amount of loss reclassified into income
			Years ended December 31,
			2025						2024						2023
Interest rate caps			$	8,208					$	17,197					$	22,731

Cash Flow Hedge Impact on Income Statement

The following table shows the amounts for the line items presented on the consolidated statements of (loss) income in which the effects of cash flow hedges are recorded for the years ended December 31, 2025, 2024 and 2023, respectively:

									Years ended December 31,
			Location and amount of gain (loss) recognized in income on cash flow hedging relationships						2025						2024						2023
Derivatives designated as cash flow hedges:
Interest rate caps			Interest (expense) income						$	(34,203)					$	(36,488)					$	(31,697)

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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

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-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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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.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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