v3.26.1
Derivative Instruments
3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
9. Derivative Instruments
The Company has entered into an interest rate swap, exchanging variable interest rates for fixed interest rates. The interest rate swap was designated as a cash flow hedge derivative instrument, and management evaluated hedge effectiveness and determined it to be highly effective as of March 31, 2026. See Note 10. Fair Value Measurements for details on the valuation of the interest rate swap.
The table below summarizes the amortization schedule related to the interest rate swap, which matures on September 5, 2030:
Notional AmountPeriod End
$325,000,0009/5/2030
The following table summarizes the effects of the Company’s derivative instruments in the condensed consolidated statements of operations:
Three Months Ended
(in thousands)
March 31,
20262025
Gain on cash flow hedges:
Interest expense$522 $1,752