Derivatives (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives

The following tables detail our outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk as of December 31, 2023. As of December 31, 2022, there were no derivative instruments outstanding.

($ in thousands)	December 31, 2023
Instrument	Number of Instruments	Weighted Average Rate	Notional	Index	Maturity
Forward-starting interest rate swap	7	3.6685%	$500,000	USD SOFR- COMPOUND	March 6, 2034

The following table presents the effect of our forward-starting derivative financial instruments on our Statement of Operations:

	Year Ended December 31,
(In thousands)	2023		2022		2021
Unrealized (loss) gain recorded in other comprehensive income	$	(9,655)	$	200,550	$	—
Reduction in interest expense related to the amortization of the forward-starting interest rate swaps and treasury locks	(24,148)		(16,233)		—

Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following table presents the effect of our interest rate swaps on our Statement of Operations:

	Year Ended December 31,
(In thousands)	2023		2022		2021
Unrealized gain recorded in other comprehensive income	$	—	$	—	$	29,166
Interest from interest rate swaps recorded in interest expense	—		—		29,960
Interest rate swap settlement recorded in interest expense	—		—		64,239