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INTEREST RATE SWAPS (Tables)

12 Months Ended

Dec. 31, 2024

INTEREST RATE SWAPS

Schedule of interest rate swap agreements

Information related to the Company’s interest rate swap agreements are noted below (in thousands):


Hedged Item ⁽¹⁾		Effective Date		Maturity Date		Rate		Amount			Fair Value as of December 31, 2024
2026 Term Loan		3/29/2024		3/10/2026		1.44% + 0.10% + applicable spread		$	50,000		$	1,543
2026 Term Loan		8/31/2021		3/10/2026		0.70% + 0.10% + applicable spread		$	15,000		$	593
2026 Term Loan⁽²⁾		3/10/2026		3/10/2031		3.80% + 0.10% + applicable spread		$	40,000		$	236
2027 Term Loan		3/29/2024		1/31/2027		1.35% + 0.10% + applicable spread		$	100,000		$	5,349
2027 Term Loan⁽²⁾		1/31/2027		1/30/2032		3.75% + 0.10% + applicable spread		$	60,000		$	505
2028 Term Loan		9/30/2022		1/31/2028		3.78% + 0.10% + applicable spread		$	50,000		$	302
2028 Term Loan		9/30/2022		1/31/2028		3.78% + 0.10% + applicable spread		$	50,000		$	295
2028 Term Loan ⁽²⁾		1/31/2028		1/31/2033		3.81% + 0.10% + applicable spread		$	60,000		$	404
2029 Term Loan		1/31/2023		1/31/2030		3.27% + 0.10% + applicable spread		$	50,000		$	1,572
2029 Term Loan		1/31/2023		1/31/2030		3.26% + 0.10% + applicable spread		$	33,000		$	1,057
2029 Term Loan		1/31/2023		1/31/2030		3.36% + 0.10% + applicable spread		$	17,000		$	470
Credit Facility		2/1/2024		1/31/2028		3.85% + 0.10% + applicable spread		$	50,000		$	191

⁽¹⁾	Effective September 30, 2022 the Company converted its existing interest rate swaps from 1-month LIBOR to SOFR.

⁽²⁾	The Company entered into forward swaps to further fix interest rates through periods that the Company reasonably expects to extend its current term loans.