Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 13 — Accumulated Other Comprehensive Loss

The following table presents the changes in the component of accumulated other comprehensive loss balances for the years ended December 31, 2023, 2022, and 2021:

	December 31,
(in thousands)	2023		2022		2021
Beginning balance	$	—	$	—	$	—
Net unrealized loss on cash flow hedges arising during the period, net of tax		1,160		—		—
Reclassification of derivative instruments to income		50		—		—
Ending balance	$	1,210	$	—	$	—

The following table presents the component of other comprehensive loss and the related tax effect for the year ended December 31, 2023:

	December 31, 2023
(in thousands)	Before-Tax		Tax Effect		Net-of-Tax
Cash flow hedges:
Forward starting payer interest rate swaps:
Net unrealized loss arising during the period	$	1,568	$	408	$	1,160
Reclassification to income		69		19		50
Other comprehensive loss	$	1,637	$	427	$	1,210