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Derivative Instruments
3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
Note 4 - Derivative Instruments
The Company was party to an interest rate swap agreement entered into to reduce the economic impact of interest rate fluctuations on outstanding debt. The swap matured in February 2024. Derivative financial instruments were not held or issued for trading purposes.
The interest rate swap of $1.5 million was included in “Other current assets” on the Condensed Consolidated Balance Sheet at December 31, 2023.
The Company recognized a net loss of $1.5 million and a net loss of $2.1 million on the derivative instruments for the three months ended March 31, 2024 and 2023, respectively. The amounts are included in “Loss on fair value adjustment for swaps – net” on the Condensed Consolidated Statements of Operations.