Our cash flow hedges consists of forward interest rate swaps to manage our exposure to interest rate movements on a portion of our debt through January 1, 2031. Our forward interest rate swaps hedge forecasted transactions through January 1, 2031.


	(Dollars in thousands)
	March 29, 2025		December 31, 2024
Derivative instruments designated as hedging instruments:
Interest rate contracts	$	150,000	$	150,000

The following table summarizes the fair value and presentation on the condensed consolidated balance sheets for derivative instruments:


		(Dollars in thousands)
	Balance Sheet Location	March 29, 2025		December 31, 2024
Derivative instruments designated as hedging instruments:
Interest rate contracts	Other assets, current	$	3,313	$	3,576
	Other assets	11,719		14,606

Accumulated other comprehensive income activities during the three months ended March 29, 2025 were as follows (in thousands):


	December 31, 2024		Three Months Ended March 29, 2025				March 29, 2025
	Balance		Changes in Fair Value Recognized		Reclassifications to Income Statement		Balance
Cash flow hedges, before tax totals	$	17,831	$	(2,141)	$	(948)	$	14,742

Unrealized (losses) gains associated with our hedging transactions recognized in other comprehensive income are presented in the following table:


	(Dollars in thousands) Three Months Ended
	March 29, 2025		March 30, 2024
Change in Other Comprehensive Income:
Interest rate contracts	$	(2,374)	$	2,201

We began reclassifying gains/losses associated with our cash flow hedges from accumulated other comprehensive income to the condensed statements of income when the Forward Interest Rate Swaps became effective as of January 1, 2024. We reclassify amounts to income as the hedged item impacts earnings and those amounts are presented in the following table:


	(Dollars in thousands) Three Months Ended
	March 29, 2025		March 30, 2024
Interest rate contracts:
Interest expense	$	948	$	1,340

The pre-tax deferred gains recorded in other comprehensive income that will mature in the next 12 months total $3.2 million.