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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Value of Derivative Instruments
The following table presents information about the fair value amounts of our cash flow derivative instruments:  
 Derivatives as of
 September 30, 2024 December 31, 2023
 Balance Sheet LocationFair ValueFair Value
Derivatives Designated as Hedging Instruments:
Interest rate swap contractsOther assets$457 $1,023 
Interest rate swap contractsOther liabilities$38 $— 
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contractsOther assets$2,486 $2,947 
Interest rate swap contractsOther liabilities$945 $629 
Make-whole provisionsOther liabilities$14,344 $6,012 
Summary of Derivative Effect on Consolidated Statements of Income (Loss)
The following table presents information about the effects of our derivative instruments on our condensed consolidated statements of income and condensed consolidated statements of comprehensive income:
Amount of (Gain) Loss Recognized in Net Income
Location of (Gain) Loss Recognized in Net IncomeThree Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Derivatives Designated as Hedging Instruments:
Interest rate swap contractsOther expenses, net$(259)$(546)$(806)$(757)
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contractsOther expenses, net$2,109 $(1,281)$778 $(1,160)
Make-whole provisionsOther expenses, net$1,592 $(1,764)$(1,045)$(2,146)
Summary of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table presents the changes in Accumulated Other Comprehensive Income (“AOCI”), net of taxes, from our hedging instruments:
Nine Months Ended September 30, 2024
Derivatives Designated as Hedging Instruments:
Accumulated gain in AOCI at the beginning of the period$746 
Unrealized gain recognized in AOCI360 
Gain reclassified from AOCI to other expenses, net(806)
Loss on derivatives(446)
Accumulated gain in AOCI at the end of the period$300 
Summary of Active Derivative Instruments
The following tables present all of our active derivative instruments as of September 30, 2024:
Active Interest Rate SwapsExpiration DateInitial Notional
Amount ($)		Status
11-Year, 5.77% Fixed
October 2029$9,200 Designated
15-Year, 5.24% Fixed
June 2033$10,000 Designated
10-Year, 4.74% Fixed
December 2027$14,100 Designated
8-Year, 3.49% Fixed
June 2028$14,643 Designated
8-Year, 3.49% Fixed
June 2028$10,734 Designated
13-Year, 0.72% Fixed
March 2033$9,505 Not Designated
13-Year, 0.72% Fixed
March 2033$6,968 Not Designated
17.75-Year, 3.16% Fixed
December 2040$14,084 Designated
18-Year, 3.81% Fixed
July 2041$32,021 Not Designated
Other DerivativesClassificationEffective DateExpiration DateFair Value ($)
Make-whole provisionsLiabilityJune/August 2018December 2038$252 
Make-whole provisionsLiabilityAugust 2016April 2031$33 
Make-whole provisionsLiabilityApril 2017February 2034$34 
Make-whole provisionsLiabilityNovember 2020December 2027$21 
Make-whole provisionsLiabilityOctober 2011May 2028$4 
Make-whole provisionsLiabilityMay 2021April 2045$48 
Make-whole provisionsLiabilityJuly 2021March 2046$2,376 
Make-whole provisionsLiabilityJune 2022March 2042$917 
Make-whole provisionsLiabilityMarch 2023December 2047$1,826 
Make-whole provisionsLiabilityApril 2024June 2042$8,359 
Make-whole provisionsLiabilityApril 2024June 2042$475