Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

In 2015, we entered into fixed for floating interest rate swap agreements to mitigate the interest rate risk inherent in our variable rate senior secured term loan facility. As result of the repayment of the senior secured term loan facility in 2020, we entered into receive-fixed interest rate swaps to offset our existing pay-fixed interest rate swaps, which matured on October 24, 2022. The Company discontinued hedge accounting as the hedge accounting requirements were no longer met

and amounts in accumulated other comprehensive (loss) income as of the date of de-designation, were reclassified to interest expense as the hedged transactions impacted earnings.

Changes in accumulated other comprehensive income (loss) by component is as follows for the years ended December 31, 2023, 2022 and 2021:


(Thousands)	2023		2022		2021
Cash flow hedge changes in fair value (loss) gain:
Balance at beginning of period	$	(30,353)	$	(30,353)	$	(30,353)
Other comprehensive loss before reclassifications	—		—		—
Amounts reclassified from accumulated other comprehensive income	—		—		—
Net other comprehensive loss	(30,353)		(30,353)		(30,353)
Less: Other comprehensive loss attributable to noncontrolling interest	—		—		—
Balance at end of period	(30,353)		(30,353)		(30,353)
Interest rate swap termination:
Balance at beginning of period attributable to common shareholders	30,353		21,189		9,986
Amounts reclassified from accumulated other comprehensive income	—		9,243		11,317
Balance at end of period	30,353		30,432		21,303
Less: Other comprehensive income attributable to noncontrolling interest	—		79		114
Balance at end of period attributable to common shareholders	30,353		30,353		21,189
Accumulated other comprehensive income (loss) at end of period	$	—	$	—	$	(9,164)