INTEREST RATE SWAPS (Tables)

6 Months Ended

Jun. 30, 2022

INTEREST RATE SWAPS

Schedule of interest rate swap agreements

Hedged Item	Effective Date	Maturity Date	Rate	Amount		Fair Value as of June 30, 2022
2026 Term Loan (1)	3/10/2021	3/29/2024	0.22% + applicable spread	$	50,000	$	2,496
2026 Term Loan (2)	3/29/2024	3/10/2026	1.51% + applicable spread	$	50,000	$	1,067
2026 Term Loan	8/31/2021	3/10/2026	0.77% + applicable spread	$	15,000	$	1,119
2027 Term Loan (3)	11/5/2021	3/29/2024	0.73% + applicable spread	$	100,000	$	4,109
2027 Term Loan (4)	3/29/2024	1/31/2027	1.42% + applicable spread	$	100,000	$	3,349

⁽¹⁾ Effective March 10, 2021, the Company redesignated the interest rate swap, entered into as of August 31, 2020, that previously hedged $50.0 million of the outstanding principal balance on the Credit Facility.

⁽²⁾ The interest rate swap agreement hedges the identical $50.0 million portion of the 2026 Term Loan borrowing under different terms and commences concurrent to the interest rate agreement maturing on March 29, 2024.

⁽³⁾ Effective November 5, 2021, the Company redesignated the interest rate swap, entered into as of March 31, 2020, that previously hedged $100.0 million of the outstanding principal balance on the Credit Facility.

⁽⁴⁾ The interest rate swap agreement hedges the identical $100.0 million portion of the 2027 Term Loan borrowing under different terms and commences concurrent to the interest rate agreement maturing on March 29, 2024.