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Hedge Accounting | 12 Months Ended
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Dec. 31, 2024
Hedge Accounting [Abstract] |
Hedge Accounting | NOTE 20 – HEDGE ACCO U NTI NG As of December 31, 2024 the Company held interest rate derivatives in the total notional amount $33.0 million (AU$50.0 million). As of December 31, 2023, the Company held no interest rate derivatives. The derivatives are recorded on the balance sheet at fair value and are included in the following line items:
|  | Asset Derivatives
|  | December 31,
|  | 2024 |  | 2023
(Dollars in thousands) |  | Balance sheet location |  | Fair value |  | Balance sheet location |  | Fair value
Interest rate contracts |  | Derivative financial instruments - current portion |  | $ | — |  | Derivative financial instruments - current portion |  | $ | —
|  | Derivative financial instruments - non-current portion |  |  | — |  | Derivative financial instruments - non-current portion |  |  | —
Total derivatives designated as hedging instruments |  |  |  | $ | — |  |  |  | $ | —
Total derivatives |  |  |  | $ | — |  |  |  | $ | —
|  | Liability Derivatives
|  | December 31,
|  | 2024 |  | 2023
(Dollars in thousands) |  | Balance sheet location |  | Fair value |  | Balance sheet location |  | Fair value
Interest rate contracts |  | Derivative financial instruments - current portion |  | $ | — |  | Derivative financial instruments - current portion |  | $ | —
|  | Derivative financial instruments - non-current portion |  |  | 137 |  | Derivative financial instruments - non-current portion |  |  | —
Total derivatives designated as hedging instruments |  |  |  | $ | 137 |  |  |  | $ | —
Total derivatives |  |  |  | $ | 137 |  |  |  | $ | —
The changes in fair value are recorded in Other Comprehensive Income and released into interest expense in the same period(s) in which the hedged transactions affect earnings. In 2024 and 2023, the derivative instruments affected Comprehensive Income as follows:
(Dollars in thousands) |  | Location of Loss Recognized in Income on Derivatives |  | Amount of Loss Recognized in Income on Derivatives
|  |  |  |  | 2024 |  |  | 2023
Interest rate contracts |  | Interest expense, net |  | $ | — |  | $ | (821)
Total |  |  |  | $ | — |  | $ | (821)
|  | Loss Recognized in OCI on Derivatives (Effective Portion) |  | Loss Reclassified from OCI into Income (Effective Portion) |  | Loss Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
(Dollars in thousands) |  | Amount |  | Line Item |  | Amount |  | Line Item |  | Amount
|  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023
Interest rate contracts |  | $ | 137 |  | $ | 2 |  | Interest expense, net |  | $ | — |  | $ | 821 |  | Interest expense, net |  | $ | — |  | $ | —
Total |  | $ | 137 |  | $ | 2 |  |  |  | $ | — |  | $ | 821 |  |  |  | $ | — |  | $ | —
As of December 31, 2024, we expect to release $129,000 to earnings.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/815/tableOfContent + Details
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