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Hedge Accounting (Tables) - Designated as Hedging Instrument - Cash Flow Hedging
9 Months Ended
Sep. 30, 2024
Derivative Contracts  
Schedule of fair value of derivative instruments

($ in thousands)

Instrument

    

Balance sheet location

    

Level 2 Fair Value

Interest rate swap

Derivative asset

$

807

Schedule of effect of derivative instruments on the consolidated statement of operations

The effect of derivative instruments on the consolidated statements of operations for the periods ended September 30, 2024 and 2023 is set out below:

Cash flow hedging relationships

    

Location of Gain (Loss) reclassified from Accumulated OCI into income

Interest rate contracts

Interest expense

Schedule of movement in other comprehensive income

($ in thousands)

    

September 30, 2024

    

December 31, 2023

Beginning accumulated derivative instrument gain or loss

$

2,691

$

3,306

Net change associated with current period hedging transactions

(1,228)

(813)

Amortization of frozen AOCI on de-designated hedge

198

Difference between a change in fair value of excluded components

Closing accumulated derivative instrument gain or loss

$

1,463

$

2,691