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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments
As of December 31, 2022 and 2021, the fair value of the derivative instruments is presented as follows in the Company's consolidated balance sheets:

Derivative assets (liabilities)20222021
Interest rate swap$1,406 $(2,158)
Cross-currency swap4,587 (500)
Derivative assets (liabilities)$5,993 $(2,658)
Schedule of Income (Loss) on Hedging Instruments
Gains and losses on our hedging instruments are recognized in accumulated other comprehensive income (loss) and categorized as follows for the year ended December 31, 2022, 2021, and 2020:

Location within Statements of Comprehensive IncomeYear ended December 31
202220212020
Cash flow hedge (interest rate swap), net of taxUnrealized gain (loss) on cash flow hedge, net$2,696 $2,053 $(2,285)
Net investment hedge (cross-currency swap), net of taxNet foreign currency translation adjustment3,851 4,766 (4,882)
$6,547 $6,819 $(7,167)
Summary Of Key Terms of Forward Exchange Contracts
The following table summarizes the key terms of the four forward exchange contracts:

Date entered intoDate expired onBalchem to sellBalchem to buy
June 15, 2022June 21, 2022USD294,555 NOK2,924,553 
June 15, 2022June 17, 2022USD6,436 EUR6,180 
June 15, 2022June 21, 2022USD16,640 EUR15,972 
June 15, 2022June 21, 2022EUR15,972 NOK165,210