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INTEREST RATE SWAPS (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swap agreements

Information related to the Company’s interest rate swap agreements as of March 31, 2025 is presented below (in thousands):


Hedged Item ⁽¹⁾		Effective Date		Maturity Date		Rate		Amount			Fair Value as of March 31, 2025
2026 Term Loan		3/29/2024		3/10/2026		1.44% + 0.10% + applicable spread		$	50,000		$	1,163
2026 Term Loan		8/31/2021		3/10/2026		0.70% + 0.10% + applicable spread		$	15,000		$	453
2026 Term Loan⁽²⁾		3/10/2026		3/10/2031		3.80% + 0.10% + applicable spread		$	40,000		$	(448)
2027 Term Loan		3/29/2024		1/31/2027		1.35% + 0.10% + applicable spread		$	100,000		$	4,186
2027 Term Loan⁽²⁾		1/31/2027		1/30/2032		3.75% + 0.10% + applicable spread		$	60,000		$	(383)
2028 Term Loan		9/30/2022		1/31/2028		3.78% + 0.10% + applicable spread		$	50,000		$	(236)
2028 Term Loan		9/30/2022		1/31/2028		3.78% + 0.10% + applicable spread		$	50,000		$	(243)
2028 Term Loan ⁽²⁾		1/31/2028		1/31/2033		3.81% + 0.10% + applicable spread		$	60,000		$	(273)
2029 Term Loan		1/31/2023		1/31/2030		3.27% + 0.10% + applicable spread		$	50,000		$	700
2029 Term Loan		1/31/2023		1/31/2030		3.26% + 0.10% + applicable spread		$	33,000		$	478
2029 Term Loan		1/31/2023		1/31/2030		3.36% + 0.10% + applicable spread		$	17,000		$	175
Credit Facility		2/1/2024		1/31/2028		3.85% + 0.10% + applicable spread		$	50,000		$	(326)

⁽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.