XML 45 R34.htm IDEA: XBRL DOCUMENT v3.24.3

Derivatives and Hedging (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments Fair Value

The table below presents the fair value of the Swaps as well as their classification in the unaudited condensed consolidated balance sheets. The fair value of these instruments was estimated using an income approach and observable market inputs (Level 2):

(in thousands)			September 30, 2024						December 31, 2023
Balance sheet line item of derivative financial instruments:
Prepaid expenses and other			$	1,309					$	1,443
Deferred charges and other assets			69						798
Total derivatives designated as hedging instruments			$	1,378					$	2,241

Schedule of Accumulated Other Comprehensive Income (Loss)

The table below summarizes changes in accumulated other comprehensive income by component:

(in thousands)						Gain on Swaps						Income tax expense						Accumulated Other Comprehensive Income, net of taxes
Balance, June 30, 2024						$	4,550					$	(1,145)					$	3,405
Net change in unrealized loss						(2,226)						540						(1,686)
Amounts reclassified to interest expense						(946)						230						(716)
Net current period other comprehensive income (loss)						(3,172)						770						(2,402)
Balance, September 30, 2024						$	1,378					$	(375)					$	1,003

(in thousands)						Gain on Swaps						Income tax expense						Accumulated Other Comprehensive Income, net of taxes
Balance, December 31, 2023						$	2,241					$	(573)					$	1,668
Net change in unrealized gain						619						(140)						479
Amounts reclassified to interest expense						(1,482)						338						(1,144)
Net current period other comprehensive income (loss)						(863)						198						(665)
Balance, September 30, 2024						$	1,378					$	(375)					$	1,003

(in thousands)						Gain on Swaps						Income tax expense						Accumulated Other Comprehensive Income, net of taxes
Balance, June 30, 2023						$	2,866					$	(739)					$	2,127
Net change in unrealized gain						1,503						(388)						1,115
Balance, September 30, 2023						$	4,369					$	(1,127)					$	3,242

(in thousands)						Gain on Swaps						Income tax expense						Accumulated Other Comprehensive Income, net of taxes
Balance, December 31, 2022						$	—					$	—					$	—
Net change in unrealized gain						4,369						(1,127)						3,242
Balance, September 30, 2023						$	4,369					$	(1,127)					$	3,242

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

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

+ Details

Name:	us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration