FAIR VALUE OF FINANCIAL INSTRUMENTS, DERIVATIVES AND FAIR VALUE DISCLOSURES |
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| FAIR VALUE OF FINANCIAL INSTRUMENTS, DERIVATIVES AND FAIR VALUE DISCLOSURES [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE OF FINANCIAL INSTRUMENTS, DERIVATIVES AND FAIR VALUE DISCLOSURES | Note 9 — Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures: The estimated fair values of the Company’s financial instruments, other than derivatives that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:
The following table summarizes the fair values of net assets acquired in business combinations during the nine months ended September 30, 2026:
(1) The fair value attributed to the previously held equity interest was derived from the consideration transferred in the transaction. (2) Identifiable net assets acquired primarily consisted of working capital, including $0.5 million of cash and cash equivalents. Derivatives On August 12, 2026, the Company entered into a non-amortizing interest rate swap agreement covering a notional amount of $150 million of the ECA Credit Facility with a major financial institution participating in such facility that effectively converts the Company’s interest rate exposure from a three-month SOFR floating rate to a fixed rate of 4.09% through the maturity date of September 30, 2031, effective September 30, 2026. Also, at September 30, 2026, the Company was party to amortizing interest rate swap agreements with major financial institutions participating in the $500 Million Revolving Credit Facility that effectively convert the Company’s interest rate exposure from a three-month SOFR floating rate to a fixed rate of 2.84% through the maturity date of February 22, 2027. All of these interest rate swap agreements, which contain no leverage features, are designated and qualify as cash flow hedges and have an aggregate notional value of $186.2 million as of September 30, 2026, covering for accounting purposes, debt outstanding under the ECA Credit Facility. The value of the interest rate swaps held by the Company as of September 30, 2026 is an asset of approximately $4.6 million, which is included in prepaid expenses and other current assets and other assets in the condensed consolidated balance sheet. See Note 12, “Accumulated Other Comprehensive Loss,” for disclosures relating to the impact of derivative instruments on accumulated other comprehensive loss.
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