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DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2022

DERIVATIVE INSTRUMENTS [Abstract]

Impacts of Derivative Instruments on Consolidated Statements of Comprehensive Income

The impacts of the Company’s derivative instruments on the accompanying Consolidated Statements of Comprehensive Income for the three months and six months ended September 30, 2022 are presented in the table below (in thousands):

		Three Months Ended								For the Nine Months Ended
		September 30, 2022				September 30, 2021				September 30, 2022				September 30, 2021
Unrealized loss on cash flow hedge		$	6,473			$	-			$	5,942			$	-
Tax effect at statutory rate (federal and state) of 25.55%			(1,654	)			-				(1,518	)			-
Other Comprehensive loss		$	4,819			$	-			$	4,424			$	-

Carrying and Fair Value of Interest Rate Derivatives

The carrying and fair value of the Company’s interest rate derivatives (included in Other current assets and Other assets) were as follows:

		September 30, 2022				September 30, 2021
Interest rate swap:
Other current assets		$	1,948			$	-
Other assets		$	3,995			$	-

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- References

No definition available.

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- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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