XML 42 R25.htm IDEA: XBRL DOCUMENT v3.25.0.1
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
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 income (loss) as of the date of de-designation, were reclassified to interest expense as the hedged transactions impacted earnings.
On March 1, 2024, the Company entered into the ABS Loan Interest Rate Cap related to the ABS Loan Facility (as defined in Note 11). This interest rate cap was designated as a cash flow hedge, has a notional value of $275.0 million, and effectively caps the one-month term SOFR at 4.50%.
Changes in accumulated other comprehensive income (loss) by component is as follows for the years ended December 31, 2024, 2023 and 2022:
(Thousands)202420232022
Cash flow hedge:
Balance at beginning of period attributable to shareholders$— $(30,353)$(30,353)
Change in fair value of derivative asset(656)— — 
Amounts reclassified from accumulated other comprehensive income22 — — 
Net other comprehensive loss(634)(30,353)(30,353)
Less: Other comprehensive loss attributable to noncontrolling interest0 — — 
Balance at end of period(634)(30,353)(30,353)
Interest rate swap termination:
Balance at beginning of period attributable to common shareholders— 30,353 21,189 
Amounts reclassified from accumulated other comprehensive income— — 9,243 
Balance at end of period— 30,353 30,432 
Less: Other comprehensive income attributable to noncontrolling interest— — 79 
Balance at end of period attributable to common shareholders— 30,353 30,353 
Accumulated other comprehensive loss at end of period$(634)$— $—