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Note 11 - Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Comprehensive Income (Loss) Note [Text Block]

11.

Accumulated Other Comprehensive Income:

 

On January 10, 2019, the Company entered into a five-year forward starting fixed rate interest rate hedge in order to eliminate the variability of cash interest payments on $75 million of the outstanding LIBOR based borrowings under the ABL Credit Facility. On January 3, 2023, the Company amended the interest rate hedge agreement to use SOFR as the reference rate and updated the fixed rate to 2.42% from 2.57%. The fair value of the interest rate hedge of $0.6 million, net of tax of $0.2 million is included in “Accumulated other comprehensive income” on the Consolidated Balance Sheets at September 30, 2023. The fair value of the interest rate hedge was $1.7 million, net of tax of $0.4 million at December 31, 2022.