Quarterly report [Sections 13 or 15(d)]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.26.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Value of Derivative Instruments
The following table presents information about the fair value amounts of our cash flow derivative instruments:  
  Derivatives as of
  March 31, 2026   December 31, 2025
  Balance Sheet Location Fair Value Fair Value
Derivatives Designated as Hedging Instruments:
Interest rate swap contracts
Other assets
$
792 
$
721 
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contracts
Accrued expenses and other current liabilities
$
37 
$
— 
Interest rate swap contracts
Other liabilities
$
— 
$
197 
Make-whole provisions
Other liabilities
$
21,025 
$
19,075 
Summary of Derivative Effect on Consolidated Statements of Income (loss)
The following table presents information about the effects of our derivative instruments on our condensed consolidated statements of operations and condensed consolidated statements of comprehensive loss:
Amount of (Gain) Loss Recognized in Net Loss
Location of (Gain) Loss Recognized in Net Loss Three Months Ended March 31,
2026 2025
Derivatives Designated as Hedging Instruments:
Interest rate swap contracts
Other expenses, net
$
(49)
$
(107)
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contracts
Other expenses, net
$
(160)
$
927 
Make-whole provisions
Other expenses, net
$
1,950 
$
408 
Summary of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table presents the changes in Accumulated Other Comprehensive Income (“AOCI”), net of taxes, from our hedging instruments:
Three Months Ended March 31, 2026
Derivatives Designated as Hedging Instruments:
Accumulated gain in AOCL at the beginning of the period
$
490 
Unrealized gain recognized in AOCL
102 
Gain reclassified from AOCL to other expenses, net
(49)
Gain on derivatives
53 
Accumulated gain in AOCL at the end of the period
$
543 
Summary of Active Derivative Instruments
The following tables present all of our active derivative instruments as of March 31, 2026:
Active Interest Rate Swaps Expiration Date Initial Notional
Amount ($)		 Status
11-Year, 5.77% Fixed
October 2029
$
9,200 
Designated
15-Year, 5.24% Fixed
June 2033
$
10,000 
Designated
10-Year, 4.74% Fixed
December 2027
$
14,100 
Designated
17.75-Year, 3.16% Fixed
December 2040
$
14,084 
Designated
18-Year, 3.81% Fixed
July 2041
$
32,021 
Not Designated
Other Derivatives Classification Effective Date Expiration Date Fair Value ($)
Make-whole provisions
Liability
June/August 2018
December 2038
$
195 
Make-whole provisions
Liability
August 2016
April 2031
$
13 
Make-whole provisions
Liability
April 2017
February 2034
$
10 
Make-whole provisions
Liability
November 2020
December 2027
$
1 
Make-whole provisions
Liability
October 2011
May 2028
$
— 
Make-whole provisions
Liability
May 2021
April 2045
$
109 
Make-whole provisions
Liability
March 2023
December 2047
$
1,327 
Make-whole provisions
Liability
June 2022
March 2042
$
697 
Make-whole provisions
Liability
July 2021
March 2046
$
1,854 
Make-whole provisions
Liability
April 2024
June 2042
$
7,216 
Make-whole provisions
Liability
April 2024
June 2042
$
1,012 
Make-whole provisions
Liability
April 2025
September 2045
$
2,184 
Make-whole provisions
Liability
May 2025
December 2037
$
270 
Make-whole provisions
Liability
December 2025
September 2045
$
1,428 
Make-whole provisions
Liability
December 2025
December 2046
$
1,230 
Make-whole provisions
Liability
October 2025
December 2043
$
2,637 
Make-whole provisions
Liability
October 2025
September 2040
$
842