| Summary of Activities Related to Investments |
The following table summarizes activities related to these investments for the nine months ended September 30, 2026 and the year ended December 31, 2025 (in thousands):
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Nine Months Ended
September 30, 2026 |
|
|
Year Ended
December 31, 2025 |
|
| Fair value at beginning of period |
|
$ |
45,004 |
|
|
$ |
40,999 |
|
| Purchases |
|
|
6,250 |
|
|
|
43,375 |
|
| Redemptions |
|
|
(1,500) |
|
|
|
(5,096) |
|
| Maturities |
|
|
(5,965) |
|
|
|
(34,595) |
|
| Change in bond premium |
|
|
22 |
|
|
|
11 |
|
| Fair market value adjustment |
|
|
(1,068) |
|
|
|
310 |
|
|
|
|
|
|
|
|
|
|
| Fair value at end of period |
|
$ |
42,743 |
|
|
$ |
45,004 |
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|
|
|
|
|
|
|
|
|
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| Summary of Outstanding Interest Rate Swaps |
The following table summarizes our outstanding interest rate swaps and their classification in the accompanying unaudited Condensed Consolidated Balance Sheets at September 30, 2026 and December 31, 2025 (amounts in thousands, except percentages):
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September 30, 2026 |
| |
|
Notional
Amount |
|
|
Fixed Rate |
|
|
Expiration |
|
|
Fair
Value |
|
|
Balance Sheet Location |
| Interest rate swap |
|
$ |
30,000 |
|
|
|
1.186 |
% |
|
|
12/14/2026 |
|
|
$ |
172 |
|
|
Other current asset |
| Interest rate swap |
|
$ |
100,000 |
|
|
|
3.850 |
% |
|
|
7/14/2027 |
|
|
$ |
390 |
|
|
Other current asset |
| Interest rate swap |
|
$ |
20,000 |
|
|
|
2.450 |
% |
|
|
8/14/2027 |
|
|
$ |
338 |
|
|
Other current asset |
| Interest rate swap |
|
$ |
25,000 |
|
|
|
3.669 |
% |
|
|
4/14/2028 |
|
|
$ |
344 |
|
|
Other non-current asset |
| Interest rate swap |
|
$ |
25,000 |
|
|
|
4.488 |
% |
|
|
10/14/2028 |
|
|
$ |
77 |
|
|
Other non-current asset |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.703 |
% |
|
|
3/14/2030 |
|
|
$ |
1,594 |
|
|
Other non-current asset |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.503 |
% |
|
|
4/14/2030 |
|
|
$ |
1,958 |
|
|
Other non-current asset |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.658 |
% |
|
|
7/14/2030 |
|
|
$ |
1,814 |
|
|
Other non-current asset |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.680 |
% |
|
|
7/15/2030 |
|
|
$ |
1,774 |
|
|
Other non-current asset |
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| |
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| |
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|
Balance Sheet Location |
| Interest rate swap |
|
$ |
100,000 |
|
|
|
4.047 |
% |
|
|
7/14/2026 |
|
|
$ |
(269 |
) |
|
Other current liability |
| Interest rate swap |
|
$ |
30,000 |
|
|
|
1.186 |
% |
|
|
12/14/2026 |
|
|
$ |
628 |
|
|
Other current asset |
| Interest rate swap |
|
$ |
100,000 |
|
|
|
3.850 |
% |
|
|
7/14/2027 |
|
|
$ |
(838 |
) |
|
Other non-current liability |
| Interest rate swap |
|
$ |
20,000 |
|
|
|
2.450 |
% |
|
|
8/14/2027 |
|
|
$ |
263 |
|
|
Other non-current asset |
| Interest rate swap |
|
$ |
25,000 |
|
|
|
3.669 |
% |
|
|
4/14/2028 |
|
|
$ |
(228 |
) |
|
Other non-current liability |
| Interest rate swap |
|
$ |
25,000 |
|
|
|
4.488 |
% |
|
|
10/14/2028 |
|
|
$ |
(805 |
) |
|
Other non-current liability |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.703 |
% |
|
|
3/14/2030 |
|
|
$ |
(708 |
) |
|
Other non-current liability |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.503 |
% |
|
|
4/14/2030 |
|
|
$ |
(327 |
) |
|
Other non-current liability |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.658 |
% |
|
|
7/14/2030 |
|
|
$ |
(637 |
) |
|
Other non-current liability |
| Interest rate swap |
|
$ |
50,000 |
|
|
|
3.680 |
% |
|
|
7/15/2030 |
|
|
$ |
(681 |
) |
|
Other non-current liability |
|
| Summary of Effects of Interest Rate Swap |
The following table summarizes the effects of the interest rate swaps on the accompanying Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2026 and 2025 (in thousands):
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| |
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Three Months Ended
September 30, |
|
|
Three Months Ended
September 30, |
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| Interest rate swaps |
|
$ |
4,960 |
|
|
$ |
(636 |
) |
|
$ |
161 |
|
|
$ |
846 |
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| |
|
Gain (Loss) Recognized in AOCI, net of tax |
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Nine Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
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|
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|
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|
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| Interest rate swaps |
|
$ |
9,263 |
|
|
$ |
(3,072 |
) |
|
$ |
288 |
|
|
$ |
2,219 |
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