v3.24.0.1
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2023
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of fair value of the Company's derivative financial instruments as well as classification on the condensed consolidated balance sheets

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2023 and 2022 (in thousands):

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Asset Derivatives

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Fair value as of:

Derivatives designated as

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Balance Sheet

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December 31, 

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December 31, 

hedging instruments

    

Location

    

2023

    

2022

Foreign currency contracts

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Prepaid expenses and other assets

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$

54

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$

48

Interest rate swaps

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Prepaid expenses and other assets

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2,254

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—

Interest rate swaps

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Other long-term assets

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2,177

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7,236

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$

4,485

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$

7,284

Schedule of effect of cash flow hedge accounting on other comprehensive income (loss) (OCI)

The table below presents the effect of cash flow hedge accounting on other comprehensive (loss) income (OCI) for the years ended December 31, 2023, 2022 and 2021 (in thousands):

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Amount of pre-tax (gain) loss recognized in OCI

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on derivatives

Derivatives in cash flow hedging relationships

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Year ended December 31, 

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2023

    

2022

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2021

Interest rate swaps

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$

(935)

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$

7,621

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$

1,180

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Location of gain (loss) reclassified

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Amount of pre-tax gain (loss) reclassified from accumulated OCI into income

from accumulated OCI into income

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Year ended December 31, 

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2023

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2022

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2021

Interest expense

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$

3,814

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$

532

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$

(929)

Schedule of effect of the Company's derivative financial instruments on the condensed consolidated statements of income and comprehensive (loss) income

The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of income and comprehensive income for the years ended December 31, 2023, 2022 and 2021 (in thousands):

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Total amounts of income and expense line items presented  

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that reflect the effects of cash flow hedges recorded

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Year ended December 31, 

Derivatives designated as hedging instruments

    

Income Statement Location

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2023

    

2022

    

2021

Interest rate swaps

 

Interest Expense

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$

12,383

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$

7,692

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$

3,236