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DERIVATIVE FINANCIAL INSTRUMENTS
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS
As part of our interest rate risk management strategy, we entered into interest rate swaps, which we designated as cash flow hedges, to mitigate variability in interest payments on a portion of our variable-rate debt (Note 13). In March 2023, we modified our September 2022 interest rate swap agreement to utilize SOFR as the reference rate in the agreement. Information regarding our accounting for this modification can be found in Note 2. Our derivative instruments were comprised of the following at December 31:

December 31, 2023December 31, 2022
(in thousands)Notional amountInterest RateMaturityBalance Sheet LocationFair Value
Asset / (Liability)		Fair Value
Asset / (Liability)
June 2023 amortizing interest rate swap:
$271,659 4.249 %June 2026Other non-current liabilities$(2,158)$— 
March 2023 interest rate swap:
200,000 4.003 %March 2026Other non-current assets287 — 
September 2022 interest rate swap:
300,000 3.990 %September 2025Other non-current assets1,519 2,409 
July 2019
interest rate swap:
200,000 1.798 %March 2023Other current assets— 1,184 

Changes in the fair values of the interest rate swaps are recorded in accumulated other comprehensive loss on the consolidated balance sheets and are subsequently reclassified into interest expense as interest payments are made on the variable-rate debt. The fair values of the derivatives are calculated based on the applicable reference rate curve on the date of measurement. The cash flow hedges were fully effective as of December 31, 2023 and December 31, 2022, and their impact on consolidated net income and our consolidated statements of cash flows was not material. We also expect that the amount that will be reclassified to interest expense during the next 12 months will not be material.