Quarterly report pursuant to Section 13 or 15(d)

Derivatives (Tables)

v3.24.2.u1
Derivatives (Tables)
6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Location and Gains (Losses) On Derivatives in the Consolidated Statements of Income

The location and gains (losses) on derivatives are reported on the Consolidated Statements of Income as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

Income Statement Caption

2024

 

2023

 

 

2024

 

2023

 

Change in the fair value of the Deal-Contingent Forward

General and administrative

$

(2,050

)

$

 

 

$

(4,532

)

$

 

Total impact of derivatives not designated as hedging instruments

 

$

(2,050

)

$

 

 

$

(4,532

)

$

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate cap premium amortization

Interest expense, net

$

(1,739

)

$

(1,739

)

 

$

(3,477

)

$

(3,477

)

Amounts reclassified out of other comprehensive income related to the interest rate cap

Interest expense, net

 

6,507

 

 

5,649

 

 

 

13,051

 

 

10,064

 

Total impact of derivatives designated as hedging instruments

 

$

4,768

 

$

3,910

 

 

$

9,574

 

$

6,587

 

Schedule of Location and Fair Value of Derivatives in the Consolidated Balance Sheets

The location and fair value of derivatives are reported on the Consolidated Balance Sheets as follows:

 

 

Balance Sheet Caption

June 30, 2024

 

December 31, 2023

 

Derivatives not designated as hedging instruments

 

 

 

 

 

Deal-Contingent Forward

Accounts payable and accrued liabilities

$

 

$

852

 

Derivatives designated as hedging instruments

 

 

 

 

 

Interest rate cap

Other non-current assets

$

29,549

 

$

29,667