XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.25.3

Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Interest Rate Derivatives | The key terms of the active interest rate swaps are as follows:
| April 23, 2024 Interest Rate Swap |  | August 8, 2025 Interest Rate Swap |  | August 28, 2025 Interest Rate Swap |  | September 18, 2025 Interest Rate Swap |  |  |  |  |
Effective date | April 30, 2024 |  | August 12, 2025 |  | August 29, 2025 |  | September 18, 2025 |  |  |  |  |
Termination date | March 31, 2027 |  | September 30, 2028 |  | September 30, 2028 |  | September 30, 2028 |  |  |  |  |
Term | 35 Months |  | 38 Months |  | 37 Months |  | 36 Months |  |  |  |  |
Notional amount | $50.0 |  | $40.0 |  | $20.0 |  | $20.0 |  |  |  |  |
Fixed swap rate | 4.67% |  | 3.46% |  | 3.34% |  | 3.31% |  |  |  |  |
The fair value of the active interest rate swaps classified as Level 2 as of September 30, 2025, and December 31, 2024, were as follows:
| Balance Sheet Location |  | September 30, 2025 |  | December 31, 2024
Interest rate swap liabilities | Other long-term liabilities |  | $ | (1.1) |  |  | $ | (0.7) |
The key terms of the interest rate collars are as follows:
| December 12, 2022 Interest Rate Collar |  | December 14, 2022 Interest Rate Collar
Effective date | February 1, 2023 |  | February 1, 2023
Termination date | October 30, 2026 |  | October 31, 2025
Term | 45 Months |  | 33 Months
Notional amount | $75.0 |  | $75.0
Floor Rate | 2.09% |  | 2.25%
Ceiling Rate | 5.00% |  | 5.00%
The fair value of the interest rate collars classified as Level 2 as of September 30, 2025, and December 31, 2024, were as follows:
| Balance Sheet Location |  | September 30, 2025 |  | December 31, 2024
Interest rate collar assets | Prepaid expenses and other current assets |  | $ | — |  |  | $ | 0.1 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | The cash flows associated with the active interest rate swaps have been recognized as an adjustment to interest expense in the condensed consolidated statements of operations, and the changes in the fair value of the active interest rate swaps has been included in other comprehensive income (loss) in the condensed consolidated statements of comprehensive income (loss):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cash Flow Impacts |  |  |  |  |  |  |
Net interest paid | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | — |
Loss recognized in other comprehensive income (loss) | 0.1 |  |  | 1.1 |  |  | 0.4 |  |  | 1.6 |
The cash flows associated with the terminated interest rate swap have been recognized as an adjustment to interest expense in the condensed consolidated statements of operations:
|  |  |  |  | Nine Months Ended September 30, 2024
Cash Flow Impacts |  |  |  |  |  |  |
Net interest received |  |  |  |  |  |  | $ | (1.0) |
Impacts with Terminated Swap as Nonhedging Instrument |  |  |  |  |  |  |
Loss recognized in interest expense excluded from hedge effectiveness assessments |  |  |  |  |  |  | 0.9 |
Amounts reclassified out of accumulated other comprehensive loss to interest expense |  |  |  |  |  |  | 0.6 |
Net interest expense |  |  |  |  |  |  | (1.0) |
Total impact of terminated swap to interest expense |  |  |  |  |  |  | $ | 0.5 |
The cash flows associated with the interest rate collars have been recognized as an adjustment to interest expense in the condensed consolidated statements of operations, and the changes in the fair value of the interest rate collars have been included in other comprehensive income (loss) in the condensed consolidated statements of comprehensive income (loss):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cash Flow Impacts |  |  |  |  |  |  |
Net interest received | $ | — |  |  | $ | (0.1) |  |  | $ | — |  |  | $ | (0.3) |
Loss recognized in other comprehensive income (loss) | $ | — |  |  | $ | 0.6 |  |  | $ | 0.1 |  |  | $ | — |

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

X
- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + 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 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
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