v3.25.2
Derivative financial instruments (Tables)
6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative instruments The following table summarizes the notional values related to the Company’s derivative instruments outstanding at June 30, 2025 (in thousands):

 

June 30, 2025

 

Interest rate swaps

$

46,275

 

Foreign currency hedges

11,374

 

Schedule of fair value of the Company's derivative instruments designated as hedging instruments

The following table presents the fair value of each classification of the Company’s derivative instruments as of June 30, 2025 and December 31, 2024 (in thousands):

 

 

June 30, 2025

 

 

December 31, 2024

 

Derivatives designated as hedging instruments

 

 

 

 

 

Cash flow hedges

 

 

 

 

 

Current assets

$

933

 

 

$

1,070

 

Non-current assets

 

262

 

 

 

1,267

 

Total designated as hedging instruments

$

1,195

 

 

$

2,337

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

Current assets

$

5,285

 

 

$

4,063

 

Non-current assets

 

20,566

 

 

 

7,205

 

Current liabilities

 

(5,285

)

 

 

(4,063

)

Non-current liabilities

 

(20,566

)

 

 

(7,205

)

Total not designated as hedging instruments

$

 

 

$

 

 

 

 

 

 

Total current position

$

933

 

 

$

1,070

 

Total non-current position

 

262

 

 

 

1,267

 

Total derivatives

$

1,195

 

 

$

2,337

 

Schedule of gains and losses from the Company's derivative instruments designated in a cash flow hedging

The following tables present the gains and losses from the Company’s derivative instruments designated in a cash flow hedging relationship recognized in the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2025 and 2024 (in thousands):

Derivatives Designated in

 

 

 

Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives

 

Cash Flow Hedging

 

 

 

For the three months ended June 30,

 

 

For the six months ended June 30,

 

Relationship

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Interest rate swaps

 

 

 

$

510

 

 

$

1,102

 

 

$

(530

)

 

$

5,253

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives Designated in

 

 

 

Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income

 

Cash Flow Hedging

 

Location of Gain (Loss) Reclassified from

 

For the three months ended June 30,

 

 

For the six months ended June 30,

 

Relationship

 

Accumulated Other Comprehensive Income into Income

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Interest rate swaps

 

Interest expense

 

$

217

 

 

$

927

 

 

$

612

 

 

$

2,090