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Hedge Accounting | 9 Months Ended
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Sep. 30, 2025
Hedge Accounting [Abstract] |
Hedge Accounting | Note 19 – Hedge Accounting As of September 30, 2025, our Company held derivative instruments to the notional value of $33.1 million (AU$50.0 million). As of December 31, 2024, our Company held derivatives in the total notional amount of $33.0 million (AU$50.0 million). The derivatives are recorded on the balance sheet at fair value and are included in the following line items:
|  | Liability Derivatives
|  | September 30, |  | December 31,
|  | 2025 |  | 2024
(Dollars in thousands) |  | Balance sheet location |  | Fair value |  | Balance sheet location |  | Fair value
Interest rate contracts |  | Derivative financial instruments - current portion |  | $ | 131 |  | Derivative financial instruments - current portion |  | $ | —
|  | Derivative financial instruments - non-current portion |  |  | — |  | Derivative financial instruments - non-current portion |  |  | 137
Total derivatives designated as hedging instruments |  |  |  | $ | 131 |  |  |  | $ | 137
Total derivatives |  |  |  | $ | 131 |  |  |  | $ | 137
The changes in fair value of that instrument were recorded in Other Comprehensive Income and released into interest expense in the same period(s) in which the hedged transactions affect earnings. In the quarter and nine months ended September 30, 2025 and September 30, 2024, respectively, the derivative instruments affected Comprehensive Income as follows:
(Dollars in thousands) | Location of Loss Recognized in Income on Derivatives |  | Amount of Loss (Gain) Recognized in Income on Derivatives
|  |  | Quarter Ended September 30 |  | Nine Months Ended September 30
|  |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Interest rate contracts | Interest expense |  | $ | (28) |  | $ | — |  | $ | (39) |  | $ | —
Total |  |  | $ | (28) |  | $ | — |  | $ | (39) |  | $ | —
|  | Loss (Gain) Recognized in OCI on Derivatives (Effective Portion)
(Dollars in thousands) |  | Amount |  | Amount
|  | Quarter Ended September 30 |  | Nine Months Ended September 30
|  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Interest rate contracts |  | $ | (77) |  | $ | 167 |  | $ | 24 |  | $ | 269
Total |  | $ | (77) |  | $ | 167 |  | $ | 24 |  | $ | 269
|  | Loss (Gain) Reclassified from OCI into Income (Effective Portion)
Line Item |  | Amount |  | Amount
|  | Quarter Ended September 30 |  | Nine Months Ended September 30
|  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Interest expense |  | $ | (28) |  | $ | — |  | $ | (39) |  | $ | —
Total |  | $ | (28) |  | $ | — |  | $ | (39) |  | $ | —
As of September 30, 2025, we expect to release $195,000 to earnings over the remaining life of the derivative.

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