Hedge Accounting

6 Months Ended

Jun. 30, 2026

Hedge Accounting [Abstract]

Hedge Accounting

Note 19 – Hedge Accounting

As of June 30, 2026, our Company held derivative instruments to the notional value of $34.6 million (AU$50.0 million). As of December 31, 2025, our Company held derivatives in the total notional amount of $32.2 million (AU$50.0 million).

The derivatives are recorded on the balance sheet at fair value and are included in the following line items:

	Liability Derivatives
	June 30,			December 31,
	2026			2025
(Dollars in thousands)	Balance sheet location	Fair value		Balance sheet location	Fair value
Interest rate contracts	Derivative financial instruments - current portion	$	—	Derivative financial instruments - current portion	$	56
	Derivative financial instruments - non-current portion		—	Derivative financial instruments - non-current portion		—
Total derivatives designated as hedging instruments		$	—		$	56
Total derivatives		$	—		$	56

The changes in fair value of that instrument were recorded in Other Comprehensive Income and released into interest expense in the same period(s) in which the hedged transactions affect earnings. In the quarter and six months ended June 30, 2026 and June 30, 2025, respectively, the derivative instruments affected Comprehensive Income as follows:

		Amount of Loss (Gain) Recognized in Income on Derivatives
		Quarter Ended June 30				Six Months Ended June 30
(Dollars in thousands)	Location of Loss Recognized in Income on Derivatives		2026		2025		2026		2025
Interest rate contracts	Interest expense	$	—	$	(10)	$	(2)	$	(9)
Total		$	—	$	(10)	$	(2)	$	(9)

	Amount of Loss (Gain) Recognized in OCI on Derivatives (Effective Portion)
	Quarter Ended June 30				Six Months Ended June 30
(Dollars in thousands)		2026		2025		2026		2025
Interest expense	$	(17)	$	235	$	(58)	$	391
Total	$	(17)	$	235	$	(58)	$	391
	Amount of Loss (Gain) Reclassified from OCI into Income (Effective Portion)
	Quarter Ended June 30				Six Months Ended June 30
(Dollars in thousands)		2026		2025		2026		2025
Interest expense	$	—	$	(10)	$	(2)	$	(9)
Total	$	—	$	(10)	$	(2)	$	(9)

As of June 30, 2026, we expect no further releases to earnings, as the derivative has no value and matures in July 2026.