XML 127 R42.htm IDEA: XBRL DOCUMENT v3.25.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the terms and fair values of our derivative financial instruments, as well as their classifications within the consolidated balance sheets as of December 31, 2025 and 2024 (notional amounts and fair values in thousands):
Fair Value
Effective DateMaturity DateNotional AmountBank Pay RateCompany Average Fixed Pay Rate20252024
Assets (Liabilities) (1):
Current Derivatives
February 1, 2024February 1, 2026$75,000 Daily SOFR3.5 %$22 $510 
February 1, 2024August 1, 202675,000 Daily SOFR3.7 %(80)364 
February 1, 2024January 1, 2027175,000 Daily SOFR4.2 %(1,358)(554)
May 1, 2025April 24, 202961,700 Daily SOFR3.5 %(417)— 
Total$386,700 3.8 %$(1,833)$320 
Forward Starting Derivatives
February 1, 2026April 1, 2028$75,000 Daily SOFR3.3 %$(102)$— 
August 1, 2026October 1, 202750,000 Daily SOFR3.1 %6 — 
August 1, 2026April 1 202825,000 Daily SOFR3.1 %24 — 
January 6, 2026October 1, 2029$30,000 Daily SOFR3.3 %(25)— 
Total$180,000 3.3 %$(97)$— 
(1)Asset balances are recorded in prepaids and other assets on the consolidated balance sheets and liabilities are recorded in other liabilities on the consolidated balance sheets.

The derivative financial instruments are comprised of interest rate swaps, which are designated and qualify as cash flow hedges, with various counterparties. We do not use derivatives for trading or speculative purposes and currently do not have any derivatives that are not designated as hedges.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements for the years ended December 31, 2025, 2024 and 2023, respectively (in thousands):
202520242023
Interest Rate Swaps (Effective Portion):
Amount of gain (loss) recognized in other comprehensive income (loss)$(2,221)$621 $(14,534)