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Derivatives (Tables)
3 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Effect of Derivative Instruments
The following table summarizes the material terms of the Company’s outstanding interest rate swap derivative contracts as of June 30, 2024:
Effective DateMaturity DateTermsNotional Amount
April 28, 2023June 30, 2025Variable to Fixed$200,000 
June 30, 2023June 30, 2026Variable to Fixed150,000 
June 28, 2024June 30, 2027Variable to Fixed200,000 
Total$550,000 
The effect of derivative instruments on the accompanying condensed consolidated financial statements for the periods presented is as follows:
Derivatives in Cash Flow Hedging RelationshipsLocation of Gain or (Loss) Recognized in Income on DerivativesPre-Tax Gain Recognized in AOCI on DerivativesPre-Tax Gain Reclassified from AOCI into Income
Three Months Ended
June 30,
Three Months Ended
June 30,
2024202320242023
Interest rate swapsInterest expense$739 $8,599 $3,760 $3,568