v3.25.2
Interest Rate Swap Agreements (Tables)
6 Months Ended
Jun. 30, 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 June 30,
Six Months Ended June 30,
Classification
2025
2024
2025
2024
Unrealized (loss) income recognized
AOCI
$(2,960)
$2,052
$(7,946)
$8,139
Reclassification from AOCI into earnings
Interest expense, net
(2,890)
(5,103)
(5,765)
(10,239)
Net change in AOCI
$(5,850)
$(3,051)
$(13,711)
$(2,100)
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
June 30, 2025
December 31, 2024
Assets:
Other current assets
$7,574
$9,914
Other assets
3,264
Total interest rate swap assets
7,574
13,178
Liabilities:
Other accrued expenses and liabilities
302
Other long-term liabilities
7,804
Total interest rate swap liabilities
8,106
Fair value of interest rate swap agreements
$(532)
$13,178