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Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedges of Interest Rate Swaps

The Company has three interest rate swap agreements designated as cash flow hedges, whose key terms are as follows (dollars in millions):

Effective						Maturity						Fixed Interest						Notional Amount at						Asset (Liability) Fair Value at
Date						Date						Rate						September 30, 2023						September 30, 2023						December 31, 2022
Interest Rate Swap Agreements
4/7/2016						8/1/2029						3.14%						$	53.1					$	6.2					$	5.5
Forward Interest Rate Swap Agreements
5/1/2024						12/9/2031						4.88%						$	57.0					$	1.7					$	(1.3)
12/9/2024						12/9/2031						4.83%						$	73.0					$	1.7					$	(1.5)

Schedule of Derivative Instruments in Consolidated Statements of Comprehensive Income (Loss)

The following table represents the pre-tax effect of the derivative instruments in the Company's condensed consolidated statements of comprehensive income (loss) during the three and nine months ended September 30, 2023 and 2022, (in millions):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2023						2022						2023						2022
Derivatives in Designated Cash Flow Hedging Relationships:
Amount of gain (loss) recognized in OCI on derivatives						$	7.5					$	2.6					$	8.0					$	8.0
Impact of reclassification adjustment to interest expense included in Net Income (Loss)						$	(0.4)					$	(0.1)					$	(1.2)					$	0.5
Realized interest rate hedging gain (loss)						$	—					$	—					$	—					$	(0.5)

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- References

No definition available.

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- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

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- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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