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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Impact of Derivative Financial Instrument on Condensed Consolidated Statement of Operations

The impact of the Company’s derivative financial instrument on its condensed consolidated statements of comprehensive (loss) income for the three months ended March 31, 2023 and 2022 was as follows, net of tax (in thousands):

			Three months ended
			March 31, 2023						March 31, 2022
Gain (loss) recognized in other comprehensive income (loss) on derivative, net of tax			$	(2,715)					$	14,713
Amount reclassified from accumulated other comprehensive income (loss) to other income upon sale of swap, net of tax			(5,099)						—
Amount reclassified from accumulated other comprehensive income (loss) to interest expense			(3,185)						756
			$	(10,999)					$	15,469

Schedule of Derivative Liability Designed as a Hedging Instrument

The fair values and locations in the condensed consolidated balance sheets at December 31, 2022 of the Company's derivative assets (liabilities) designated as a hedging instrument were as follows (in thousands):

			Balance sheet location									December 31, 2022
Interest rate derivative - asset derivative			Other current assets									$	13,212
Interest rate derivative - asset derivative			Other assets									12,216
												$	25,428

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- References

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ 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 (c)
-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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