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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments

As a component of our strategy to manage interest rate risk, we entered into interest rate swaps, designated as cash flow hedges, to reduce the fluctuations in interest payments on a portion of our variable-rate debt. In December 2024, coinciding with the refinancing of our debt (Note 13), we terminated these agreements and incurred an immaterial loss.

Our derivative instruments were comprised of the following at December 31, 2023:

																														December 31, 2023
(in thousands)						Notional amount						Interest Rate						Maturity						Balance Sheet Location						Fair Value Asset / (Liability)
June 2023 amortizing interest rate swap:
						$	271,659					4.249		%				June 2026						Other non-current liabilities						$	(2,158)
March 2023 interest rate swap:
						200,000						4.003		%				March 2026						Other non-current assets						287
September 2022 interest rate swap:
						300,000						3.990		%				September 2025						Other non-current assets						1,519

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- References

No definition available.

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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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