v3.25.1
Interest Rate Swap Agreements (Tables)
3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives The following table presents the effects of derivatives in cash flow hedging relationships on the Company’s AOCI and
earnings (in thousands):
Three Months Ended March 31,
Classification
2025
2024
Unrealized (loss) income recognized
AOCI
$(4,986)
$6,087
Reclassification from AOCI into earnings
Interest expense, net
(2,875)
(5,136)
Net change in AOCI
$(7,861)
$951
The following table presents the fair value of the Company’s
interest rate swap agreements as recorded in the unaudited condensed consolidated balance sheets (in thousands):
Classification
March 31, 2025
December 31, 2024
Assets:
Other current assets
$8,588
$9,914
Other assets
1,356
3,264
Total interest rate swap assets
9,944
13,178
Liabilities:
Other accrued expenses and liabilities
150
Other long-term liabilities
4,476
Total interest rate swap liabilities
4,626
Fair value of interest rate swap agreements
$5,318
$13,178