v3.26.1
Derivative Instruments
3 Months Ended
Mar. 31, 2026
Derivative Instrument Detail [Abstract]  
Derivative Instruments

NOTE 10 – DERIVATIVE INSTRUMENTS

To mitigate market risk associated with fluctuations in interest rates, the Company utilizes swap contracts under a board-approved program. The Company does not apply hedge accounting to any of its derivative instruments, and all realized and unrealized gains and losses from changes in derivative values are recognized in earnings each period. As a result of the economic hedging strategies employed, the Company had the following losses in the Consolidated Statements of Operations the three months ended March 31, 2026 and 2025:

 

 

Three Months Ended March 31,

 

Derivative Instrument

Location

2026

 

2025

 

Interest rate swaps

Interest expense

 

(29

)

 

(214

)

Net loss

 

$

(29

)

$

(214

)