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Related Party Transactions
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related party transactions Related party transactions

The Company had one debt instrument with related parties as of June 30, 2024 – the Exquisite Vessel Financing. For details on this debt instrument, see Note 10 – Long-term debt – related party.

Kaiser has, over time, donated significant amounts of money to the George Kaiser Family Foundation (“the Foundation”). The Foundation has an independent board and Kaiser does not exert control over or have ownership in the Foundation. However, several of Kaiser’s close family members are on the board of directors of the Foundation and for the purposes of these accounts, where transactions with the Foundation occur, they are reported as related party transactions. As of June 30, 2024 and December 31, 2023, the Company had no outstanding balance with the Foundation.

The following transactions with related parties are included in the accompanying consolidated statements of income (in thousands):

 

For the three months ended June 30,

 

 

For the six months ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Fees reimbursable to Kaiser

$

68

 

 

$

65

 

 

$

137

 

 

$

1,091

 

The following balances with related parties are included in the accompanying consolidated balance sheets (in thousands):

 

June 30, 2024

 

 

December 31, 2023

 

Amounts due from related parties

$

379

 

 

$

192

 

Amounts due to related parties

 

719

 

 

 

577

 

Prepaid expenses – related party

 

2,027

 

 

 

2,162