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Derivative Financial Instruments | 6 Months Ended
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Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Derivative Financial Instruments The Company is exposed to interest rate risk on its floating rate debt. On September 12, 2023, the Company entered into three interest rate swap agreements with a total notional value of $800.0 million to effectively convert a portion of its floating rate debt to a fixed-rate basis of 4.59% as a weighted-average across three swaps. The interest rate swap agreements are effective August 31, 2023 and mature on August 31, 2026. The principal objective of these contracts is to reduce the volatility of the cash flows in interest payments associated with the Company's floating rate debt, thus reducing the impact of interest rate changes on future interest payment cash flows. The Company's interest rate swaps are highly effective at offsetting the changes in cash outflows and therefore designated as cash flow hedging instruments. The Company records derivatives on the condensed consolidated balance sheets at fair value, as described in Note 5, Fair Value Measure ments. As of June 30, 2026 and December 31, 2025, the balance of derivatives was $1.9 million and $6.1 million, respectively, which was recorded in Other accrued expenses. The following table represents the activity of cash flow hedges included in accumulated other comprehensive loss for the periods presented (in thousands):
| 2026 |  | 2025
Balance as of January 1, net of tax | $ | (4,172) |  |  | $ | (5,063) |
Unrealized gain (loss) recognized in other comprehensive income before reclassifications | 3,466 |  |  | (1,330) |
Reclassifications of loss recognized to interest expense | (1,645) |  |  | (294) |
Balance as of March 31, net of tax | $ | (2,351) |  |  | $ | (6,687) |
Unrealized gain recognized in other comprehensive income before reclassifications | 3,260 |  |  | 1,009 |
Reclassifications of loss recognized to interest expense | (1,864) |  |  | (256) |
Balance as of June 30, net of tax | $ | (955) |  |  | $ | (5,934) |

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