XML 22 R14.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Interest Rate Swap Contracts | 3 Months Ended
--- | ---
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Interest Rate Swap Contracts | Note 8. INTEREST RATE SWAP CONTRACTS During 2024 and through the date of this report, we held the following interest rate swap contracts (in thousands):
Type |  | Notional Amount |  |  | Termination Date |  | Fixed Rate |
Spot starting |  | $ | 150,000 |  |  | April 1, 2024 |  |  | 0.413 | %
Spot starting |  |  | 75,000 |  |  | April 1, 2024 |  |  | 0.298 | %
Spot starting |  |  | 75,000 |  |  | April 1, 2024 |  |  | 0.298 | %
Spot starting |  |  | 50,000 |  |  | March 30, 2028 |  |  | 3.287 | %
Spot starting |  |  | 100,000 |  |  | March 31, 2028 |  |  | 3.287 | %
Spot starting |  |  | 50,000 |  |  | April 8, 2028 |  |  | 3.282 | %
Forward starting April 1, 2024 |  |  | 100,000 |  |  | April 1, 2028 |  |  | 2.932 | %
Spot starting |  |  | 80,000 |  |  | March 31, 2028 |  |  | 4.105 | %
Spot starting |  |  | 20,000 |  |  | March 31, 2028 |  |  | 4.121 | %
All of our interest rate swap contracts have been designated as cash flow hedges and are expected to be highly effective. The fair value of each of these interest rate swap contracts was reported as a separate line item within current assets, noncurrent assets and noncurrent liabilities, as applicable. See Note 12 for additional information on the fair value of the interest rate swap contracts. We report the unrealized gains and losses on our interest rate swap contracts designated as highly effective cash flow hedges as a component of other comprehensive income and reclassify such gains and losses into earnings (interest expense on our statement of operations) in the same period during which the hedged interest expense is recorded. We recognized a net realized gain from settlements of the interest rate swap contracts of $5.1 million and $3.1 million for the three months ended March 31, 2024 and 2023, respectively. We currently estimate that a gain of $6.1 million will be reclassified from accumulated other comprehensive income into interest expense during the next 12 months; however, the actual amount that will be reclassified will vary based on changes in interest rates.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//815/tableOfContent + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration