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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
The following table contains information on the outstanding interest rate swaps as of June 30, 2025:
Outstanding Interest Rate Swaps (a)
Date Entered IntoTermNotional AmountRelated Debt FacilityFixed Rate of SwapBank Margin on Debt (b)Total Effective Interest Rate (c)
April 201610 years$100,000 2016 Incremental Term Loan1.50%1.75%3.25%
April 201610 years100,000 2016 Incremental Term Loan1.51%1.75%3.26%
February 20227 years200,000 
2021 Incremental Term Loan
0.67%1.92%2.59%
August 20244 years100,000 2015 Term Loan0.78%1.60%2.38%
August 20244 years50,000 2015 Term Loan0.64%1.60%2.24%
August 20244 years50,000 2015 Term Loan3.29%1.60%4.89%
(a)All interest rate swaps are designated as cash flow hedges and qualify for hedge accounting.
(b)Includes the SOFR Credit Spread Adjustment component of 0.1%.
(c)Rate is before estimated patronage payments.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table demonstrates the impact, gross of tax, of our derivatives on the Consolidated Statements of Income and Comprehensive Income (Loss) for the three and six months ended June 30, 2025 and 2024:
Three Months Ended
June 30,		Six Months Ended
June 30,
Income Statement Location2025202420252024
Derivatives designated as cash flow hedges:
Interest rate productsOther comprehensive income (loss), relating to continuing operations($1,439)$5,181 ($5,687)$20,222 
Interest expense, net(4,529)(7,278)(9,040)(14,557)
The following table provides details of these expected reclassifications:
Amount expected to be reclassified into earnings in next 12 months
Derivatives designated as cash flow hedges:
Interest rate products (a)$14,130 
Total estimated net gain on derivatives contracts$14,130 
(a)    These reclassified amounts are expected to perfectly offset variable interest rate payments to debt holders, resulting in no net impact on our earnings or cash flows.
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets:
Notional Amount
June 30, 2025December 31, 2024
Derivatives designated as cash flow hedges:
Interest rate swaps$600,000 $600,000 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at June 30, 2025 and December 31, 2024:
Location on Balance SheetFair Value Assets / (Liabilities) (a)
June 30, 2025December 31, 2024
Derivatives designated as cash flow hedges:
Interest rate swapsOther current assets$3,982 — 
Other assets30,184 49,353 
(a)    See Note 9 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.