XML 29 R12.htm IDEA: XBRL DOCUMENT v3.25.4
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Cash Flow Hedges
Our cash flow hedges consist 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.
The notional amounts of derivative instruments are as follows:
(Dollars in thousands)
December 31, 2025December 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 consolidated balance sheets for derivative instruments:

(Dollars in thousands)
Balance Sheet LocationDecember 31, 2025December 31,
2024
Derivative instruments designated as hedging instruments:
Interest rate contractsOther assets, current$2,547 $3,576 
Other assets$9,271 $14,606 

Accumulated other comprehensive income activities during 2025 were as follows (in thousands):

December 31,
2024		2025December 31,
2025
BalanceChanges in Fair Value RecognizedReclassifications to Income StatementBalance
Cash flow hedges, before tax totals$17,831 $(2,485)$(3,803)$11,543 

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

(Dollars in thousands)
December 31,
2025		December 31,
2024
Changes in other comprehensive income:
Interest rate contracts$(4,831)$1,683 
We reclassified gains associated with our cash flow hedges from accumulated other comprehensive income to the statements of operations when the Forward Interest Rate Swaps became effective as of January 1, 2024 and are presented in the following table:

(Dollars in thousands)
December 31,
2025		December 31,
2024
Interest rate contracts:
Interest expense$3,803 $5,207 

The pre-tax deferred gains recorded in other comprehensive income that will mature in the next 12 months total $2.4 million.