XML 49 R33.htm IDEA: XBRL DOCUMENT

Hedging Activities	12 Months Ended
Hedging Activities	Dec. 31, 2021
General Discussion Of Derivative Instruments And Hedging Activities [Abstract]
Derivative Instruments And Hedging Activities Disclosure [Text Block]	Note 25 – Hedging Activities In order to satisfy certain requirements of the Credit Facility as well as to manage the Company’s exposure to variable interest rate risk associated with the Credit Facility, in November 2019, the Company entered into $ 170.0 million notional amounts of three year interest rate swaps. See Note 20 of Notes to Consolidated Financial Statements. These interest rate swaps are designated as cash flow hedges and, as such, the contracts are marked-to-market at each reporting date and any unrealized gains or losses are included in AOCI to the extent effective and reclassified to interest expense in the period during which the transaction effects earnings or it becomes probable that the forecasted transaction will not occur. The balance sheet classification and fair values of the Company’s derivative instruments, which are Level 2 measurements, are as follows: Fair Value Consolidated Balance Sheet December 31, Location 2021 2020 Derivatives designated as cash flow hedges: Interest rate swaps Other accrued liabilities $ 1,782 $ - Other non-current liabilities - 4,672 $ 1,782 $ 4,672 The following table presents the net unrealized loss deferred to AOCI: December 31, 2021 2020 Derivatives designated as cash flow hedges: Interest rate swaps AOCI $ 1,372 $ 3,598 $ 1,372 $ 3,598 The following table presents the net loss reclassified from AOCI to earnings: For the Years Ended December 31, 2021 2020 2019 Amount and location of (expense) income reclassified from AOCI into (expense) income (Effective Portion) Interest expense, net $ (2,649) $ (1,754) $ 29 Interest rate swaps are entered into with a limited number of counterparties, each of which allows for net settlement of all contracts through a single payment in a single currency in the event of a default on or termination of any one contract. As such, in accordance with the Company’s accounting policy, these derivative instruments are recorded on a net basis within the Consolidated Balance Sheets.