Derivative Instruments |
6 Months Ended |
|---|---|
Jun. 30, 2024 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Derivative Instruments | Note 5 - Derivative Instruments The Company was party to an interest rate swap agreement entered into to reduce the economic impact of interest rate fluctuations on outstanding debt. The swap matured in February 2024. These derivative financial instruments were not held or issued for trading purposes. The interest rate swap of $1.5 million was included in “Other current assets” on the condensed consolidated balance sheet at December 31, 2023. The Company did not recognize any income or expense during the three months ended June 30, 2024 and incurred a net loss of $0.6 million on the derivative instruments for the three months ended June 30, 2023, and incurred a net loss of $1.5 million and $2.7 million on the derivative instruments for the six months ended June 30, 2024 and 2023, respectively. The amounts are included in “Loss on fair value adjustment for swaps – net” on the condensed consolidated statements of operations.
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