Derivative financial instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The following table summarizes the notional values related to the Company’s derivative instruments outstanding at December 31, 2024 (in thousands):

	December 31, 2024
Interest rate swaps (1)	$	219,607

(1)Number of open positions and gross notional values do not measure the Company’s risk of loss, quantify risk or represent assets or liabilities of the Company. Instead, they indicate the relative size of the derivative instruments and are used in the calculation of the amounts to be exchanged between counterparties upon settlements.

Schedule of fair value of the Company's derivative instruments designated as hedging instruments

The following table presents the fair value of each classification of the Company’s derivative instruments as of December 31, 2024 and December 31, 2023 (in thousands):

	December 31, 2024			December 31, 2023
Derivatives designated as hedging instruments
Cash flow hedges
Current assets	$	1,070		$	2,653
Non-current assets		1,267			548
Current liabilities		—			(14	)
Non-current liabilities		—			(1,779	)
Total designated as hedging instruments	$	2,337		$	1,408
Derivatives not designated as hedging instruments
Current assets	$	4,063		$	—
Non-current assets		7,205			—
Current liabilities		(4,063	)		—
Non-current liabilities		(7,205	)		—
Total not designated as hedging instruments	$	—		$	—
Total current position	$	1,070		$	2,639
Total non-current position		1,267			(1,231	)
Total derivatives	$	2,337		$	1,408

Schedule of gains and losses from the Company's derivative instruments designated in a cash flow hedging

The following tables present the gains and losses from the Company’s derivative instruments designated in a cash flow hedging relationship recognized in the consolidated statements of income and comprehensive income for the years ended December 31, 2024, 2023 and 2022 (in thousands):

Derivatives Designated in Cash Flow Hedging Relationship		Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives
		Years ended December 31,
		2024		2023		2022
Interest rate swaps		$	4,832	$	4,530	$	4,946
Derivatives Designated in Cash Flow Hedging Relationship	Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
		Years ended December 31,
		2024		2023		2022
Interest rate swaps	Interest expense	$	3,728	$	5,021	$	(507	)