Derivatives |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives | NOTE 13. DERIVATIVES Interest Rate Swaps In the fourth quarter of 2023, the Company monetized the gain on the floating-to-fixed interest rate swap transaction (“Swap”) entered into in 2020 to effectively fix the interest rate on $450 million of its outstanding Term Loan through the Term Loan maturity date of July 1, 2026. The deferred gain on the termination of the Swap is being amortized on a straight-line basis through September 23, 2032 and is included in interest expense and other financing costs on the unaudited Condensed Consolidated Statements of Operations. For the three months ended June 30, 2026 and 2025, the Company recorded $2.1 million and $4.2 million, in amortization of deferred gain on Swap monetization. For the six months ended June 30, 2026 and 2025, the Company recorded $2.6 million and $8.3 million in amortization of deferred gain on Swap monetization. As and June 30, 2026 and December 31, 2025, the unamortized deferred gain on Swap monetization was $9.2 million and $11.7 million, respectively, before tax. The following tables summarize the classification of the Swap in our unaudited condensed financial statements (in thousands):
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