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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | The 2023 Swap Transactions have an aggregate notional amount of $200.0 million and include one and two-year tenors with the following terms:
NOTIONAL AMOUNT |  | WEIGHTED AVERAGE FIXED INTEREST RATE (1) |  | EFFECTIVE DATE |  | TERMINATION DATE
$ | 100,000,000 |  |  | 4.92% |  | December 29, 2023 |  | December 31, 2024
$ | 100,000,000 |  |  | 4.34% |  | December 29, 2023 |  | December 31, 2025
____________________ (1)The weighted averaged fixed interest rate excludes the term SOFR adjustment and interest rate spread described below.
Schedule of derivative instruments in statement of financial position, fair value | The following table presents the fair value and classification of the Company’s swap agreements as of the period indicated:
(dollars in thousands) | DECEMBER 31, 2023 |  | CONSOLIDATED BALANCE SHEET CLASSIFICATION
Interest rate swaps - asset (1) | $ | 320 |  |  | Other current assets, net
Interest rate swaps - liability | $ | 253 |  |  | Accrued and other current liabilities
Interest rate swaps - liability | 893 |  |  | Other long-term liabilities, net
Total fair value of derivative instruments - liability (1) | $ | 1,146 |  |  |
____________________ (1) See Note 18 - Fair Value Measurements for fair value discussion of the interest rate swaps.
Schedule of derivatives instruments statements of financial performance and financial position, location | The following table summarizes the effects of the swap agreements on Net income for the periods indicated:
|  |  |  |  | FISCAL YEAR
(dollars in thousands) |  |  |  |  | 2022 |  | 2021
Interest rate swap agreements: |  |  |  |  |  |  |
Interest rate swap expense recognized in Interest expense, net |  |  |  |  | $ | (1,284) |  |  | $ | (9,951) |
Income tax benefit recognized in Provision for income taxes |  |  |  |  | 330 |  |  | 2,559 |
Net effects of interest rate swap agreements |  |  |  |  | $ | (954) |  |  | $ | (7,392) |
Terminated interest rate swap agreements: |  |  |  |  |  |  |
Terminated interest rate swap expense recognized in Interest expense, net |  |  |  |  | $ | (12,115) |  |  | $ | (6,160) |
Income tax benefit recognized in Provision for income taxes |  |  |  |  | 3,133 |  |  | 1,584 |
Net effects of terminated interest rate swap agreements |  |  |  |  | $ | (8,982) |  |  | $ | (4,576) |
Total net effects on Net income |  |  |  |  | $ | (9,936) |  |  | $ | (11,968) |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-8 Reference 5: 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 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
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