Note 10 - Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

10. Accumulated Other Comprehensive Loss:

On January 10, 2019, the Company entered into a five-year forward starting fixed rate interest rate hedge in order to eliminate the variability of cash interest payments on $75 million of the outstanding LIBOR based borrowings under the ABL Credit Facility. The interest rate hedge fixed the rate at 2.57%. The fair value of the interest rate hedge of $4.2 million, net of tax of $1.1 million is included in “Accumulated other comprehensive loss” on the Consolidated Balance Sheets at June 30, 2021.