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QUARTERLY DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2021

QUARTERLY DATA (UNAUDITED)

QUARTERLY DATA (UNAUDITED)

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NOTE 18. QUARTERLY FINANCIAL DATA (UNAUDITED)

The Company has revised amounts reported in previously issued quarterly financial statements of 2021 and 2020 related to errors. The revised amounts relate to derivatives that were incorrectly presented as assets instead of liabilities and related equity effects net of tax and the related effects on comprehensive income and shareholders’ equity.

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The following tables present the revisions to comprehensive income from our previously issued financial statements to reflect the correction of errors:

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​	​	​	​	​	​	​	​	​	​
​	​	As		​	​		​	As
(in thousands)		Reported			Adjustment			Revised
Three Months Ended March 31, 2021	​	​	​	​	​	​	​	​	​
Other comprehensive income, before tax:	​	​	​	​	​	​	​	​	​
Changes in unrealized loss on hedging derivatives	​	$	(2,659)	​	$	5,052	​	$	2,393
​	​	​	​	​	​	​	​	​	​
Income taxes related to other comprehensive income:	​	​	​	​	​	​	​	​	​
Changes in unrealized loss on hedging derivatives	​	​	620	​	​	(1,176)	​	​	(556)
Total other comprehensive loss	​	​	(7,552)	​	​	3,876	​	​	(3,676)
Total comprehensive income	​	$	1,928	​	$	3,876	​	$	5,804
​	​	​	​	​	​	​	​	​	​
Three Months Ended June 30, 2021	​	​	​	​	​	​	​	​	​
Other comprehensive income, before tax:	​	​	​	​	​	​	​	​	​
Changes in unrealized gain on hedging derivatives	​	$	1,963	​	$	(1,842)	​	$	121
​	​	​	​	​	​	​	​	​	​
Income taxes related to other comprehensive income:	​	​	​	​	​	​	​	​	​
Changes in unrealized gain on hedging derivatives	​	​	(460)	​	​	430	​	​	(30)
Total other comprehensive income	​	​	4,230	​	​	(1,412)	​	​	2,818
Total comprehensive income	​	$	13,255	​	$	(1,412)	​	$	11,843
​	​	​	​	​	​	​	​	​	​

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​	​	​	​	​	​	​	​	​	​
​	​	As		​	​		​	As
(in thousands)		Reported			Adjustment			Revised
Three Months Ended March 31, 2020	​	​	​	​	​	​	​	​	​
Other comprehensive income, before tax:	​	​	​	​	​	​	​	​	​
Changes in unrealized (loss) on hedging derivatives	​	$	(2,382)	​	$	(6,540)	​	$	(8,922)
​	​	​	​	​	​	​	​	​	​
Income taxes related to other comprehensive income:	​	​	​	​	​	​	​	​	​
Changes in unrealized loss on hedging derivatives	​	​	650	​	​	1,535	​	​	2,185
Total other comprehensive income	​	​	2,279	​	​	(5,005)	​	​	(2,726)
Total comprehensive income	​	$	10,000	​	$	(5,005)	​	$	4,995
​	​	​	​	​	​	​	​	​	​
Three Months Ended June 30, 2020	​	​	​	​	​	​	​	​	​
Other comprehensive income, before tax:	​	​	​	​	​	​	​	​	​
Changes in unrealized gain (loss) on hedging derivatives	​	$	626	​	$	(692)	​	$	(66)
​	​	​	​	​	​	​	​	​	​
Income taxes related to other comprehensive income:	​	​	​	​	​	​	​	​	​
Changes in unrealized (gain) loss on hedging derivatives	​	​	(147)	​	​	162	​	​	15
Total other comprehensive income	​	​	2,331	​	​	(530)	​	​	1,801
Total comprehensive income	​	$	10,812	​	$	(530)	​	$	10,282
​	​	​	​	​	​	​	​	​	​
Three Months Ended September 30, 2020	​	​	​	​	​	​	​	​	​
Other comprehensive income, before tax:	​	​	​	​	​	​	​	​	​
Changes in unrealized gain on hedging derivatives	​	$	805	​	$	497	​	$	1,302
​	​	​	​	​	​	​	​	​	​
Income taxes related to other comprehensive income:	​	​	​	​	​	​	​	​	​
Changes in unrealized gain on hedging derivatives	​	​	(190)	​	​	(118)	​	​	(308)
Total other comprehensive income	​	​	884	​	​	379	​	​	1,263
Total comprehensive income	​	$	9,286	​	$	379	​	$	9,665
​	​	​	​	​	​	​	​	​	​
Three Months Ended December 31, 2020	​	​	​	​	​	​	​	​	​
Other comprehensive income, before tax:	​	​	​	​	​	​	​	​	​
Changes in unrealized gain on hedging derivatives	​	$	4,723	​	$	1,312	​	$	6,035
​	​	​	​	​	​	​	​	​	​
Income taxes related to other comprehensive income:	​	​	​	​	​	​	​	​	​
Changes in unrealized gain on hedging derivatives	​	​	(1,193)	​	​	(313)	​	​	(1,506)
Total other comprehensive income	​	​	1,611	​	​	999	​	​	2,610
Total comprehensive income	​	$	10,251	​	$	999	​	$	11,250

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- Definition

The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.

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