Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments and Hedging Activities (Tables)

v3.23.3
Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
Our derivative instruments designated as cash flow hedges as of September 30, 2023 were (in thousands):

Notional Amount Paid Fixed Rate Receive Variable Rate Settlement and Termination
Interest rate swaps $150,000 2.8% 1-month term SOFR Monthly through October 31, 2027
Interest rate swaps (a)
$100,000 4.5% 1-month term SOFR
Monthly through July 31, 2026
(a) In July 2023, we executed a fixed interest rate swap that hedges the variability in interest payments on $100 million of floating rate debt. We have designated, and will account for, this fixed interest rate swap as a cash flow hedge.