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Derivative Instruments
 3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments DERIVATIVE INSTRUMENTS
The Company maintains derivative instruments for protection from fluctuating interest rates. The table below provides information about the Company’s interest rate swaps (in thousands):
  March 31, 2023December 31, 2022
Expiration DateStated
Interest
Rate		Notional
Amount		Market
Value
(Liability)		Notional
Amount		Market
Value
(Liability)
March 31, 20232.425 %— — 125,625 677 
March 31, 20263.793 %50,000 (90)— — 
March 31, 20263.836 %50,000 (159)— — 
The outstanding interest rate swaps are not designated as hedges for accounting purposes. The effects of future fluctuations in SOFR interest rates on derivatives held by the Company will result in the recording of unrealized gains and losses into the statement of operations. The Company recorded a pre-tax loss on derivatives of $0.9 million and a gain of $2.8 million for the three months ending March 31, 2023 and 2022, respectively. The liability for outstanding derivatives is recorded in other liabilities and in accrued expenses.