Derivative Instruments and Hedging Activity (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activity

Schedule of notional amounts of outstanding derivative positions

The Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (presented in thousands, except number of instruments):

	Number of Instruments 1		Notional Amount1
	December 31,	December 31,	December 31,		December 31,
Interest Rate Derivatives	2023	2022	2023		2022
Interest rate swap	6	—	$	500,000	$	—

(1) Number of Instruments and total Notional amounts disclosed includes all interest rate swap agreements outstanding at the balance sheet date, including forward-starting swaps prior to their effective date.

Schedule of cash flow hedging instruments, as well as their classification in the Condensed Consolidated Balance Sheets

The table below presents the estimated fair value of the Company’s derivative financial instruments as well as their classification in the Consolidated Balance Sheets (presented in thousands).

	Asset Derivatives
	December 31, 2023		December 31, 2022
Derivatives designated as cash flow hedges:
Other Assets, net	$	—	$	—

	Liability Derivatives
	December 31, 2023		December 31, 2022
Derivatives designated as cash flow hedges:
Accounts Payable, Accrued Expenses, and Other Liabilities	$	(4,501)	$	—

Schedule of cash flow hedges included in accumulated other comprehensive income (loss)

The table below presents the effect of the Company’s derivative financial instruments in the Consolidated Statements of Operations and Other Comprehensive Income for the years ended December 31, 2023, 2022 and 2021 (presented in thousands).

							Location of Accumulated OCI	Amount Reclassified from
	Amount of Income/(Loss) Recognized						Reclassified from Accumulated	Accumulated OCI as a
	in OCI on Derivative						OCI into Income	(Reduction)/Increase in Interest Expense
Year Ended December 31,	2023		2022		2021			2023		2022		2021
Interest rate swaps	$	(1,911)	$	29,881	$	14,958	Interest expense	$	(5,109)	$	(684)	$	15,973
							Loss on extinguishment of debt and settlement of related hedges	$	—	$	—	$	13,363