ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2024

EQUITY

Accumulated Other Comprehensive Loss

4. ACCUMULATED OTHER COMPREHENSIVE LOSS:

The Company’s balance in accumulated other comprehensive loss is comprised of amounts related to the Company’s frozen noncontributory defined benefit pension plan, interest rate derivatives designated as cash flow hedges related to the Company’s outstanding debt as discussed in Note 7, “Debt,” and amounts related to an other-than-temporary impairment of a held-to-maturity investment that existed prior to 2020 with respect to the notes receivable discussed in Note 6, “Notes Receivable,” to the condensed consolidated financial statements included herein.

Changes in accumulated other comprehensive loss by component for the nine months ended September 30, 2024 and 2023 consisted of the following (in thousands):

			Other-Than-
	Minimum		Temporary
	Pension		Impairment of		Interest Rate
	Liability		Investment		Derivatives		Total
Balance, December 31, 2023	$	(15,187)	$	(2,878)	$	(1,322)	$	(19,387)
Gains arising during period		3,299		—		1,278		4,577
Amounts reclassified from accumulated other comprehensive loss		227		158		(939)		(554)
Income tax expense		(855)		—		—		(855)
Net other comprehensive income		2,671		158		339		3,168
Balance, September 30, 2024	$	(12,516)	$	(2,720)	$	(983)	$	(16,219)

			Other-Than-
	Minimum		Temporary
	Pension		Impairment of		Interest Rate
	Liability		Investment		Derivatives		Total
Balance, December 31, 2022	$	(18,021)	$	(3,087)	$	10,185	$	(10,923)
Gains arising during period		—		—		3,029		3,029
Amounts reclassified from accumulated other comprehensive loss		(220)		156		(11,734)		(11,798)
Net other comprehensive income (loss)		(220)		156		(8,705)		(8,769)
Balance, September 30, 2023	$	(18,241)	$	(2,931)	$	1,480	$	(19,692)