Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

Summary of Investments

The following table summarizes our bond activity for the years ended December 31, 2023 and 2022 (in thousands):

	2023		2022
Fair value at January 1	$	43,485	$	38,670
Purchases	14,122		19,771
Redemptions	(3,310)		(5,630)
Maturities	(15,155)		(6,770)
Change in bond premium	(1,099)		(645)
Fair market value adjustment	1,416		(1,911)
Fair value at December 31	$	39,459	$	43,485

Summary of Outstanding Interest Rate Swaps

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at December 31, 2023 and 2022 (in thousands). Refer to Note 7, Fair Value Measurements, to the accompanying consolidated financial statements for additional disclosures regarding fair value measurements.

	December 31, 2023
	Notional Amount		Fixed Rate		Expiration	Fair Value		Balance Sheet Location
Interest rate swap	$	50,000	0.834	%	4/14/2025	$	2,282	Other non-current asset
Interest rate swap	$	30,000	1.186	%	12/14/2026	$	2,125	Other non-current asset
Interest rate swap	$	20,000	2.450	%	8/14/2027	$	784	Other non-current asset
Interest rate swap (1)	$	25,000	3.669	%	4/14/2028	$	(129)	Other non-current liability
Interest rate swap (2)	$	25,000	4.488	%	10/14/2028	$	(1,063)	Other non-current liability

(1) Entered into during the first quarter of 2023.

(2) Entered into during the fourth quarter of 2023.

	December 31, 2022
	Notional Amount		Fixed Rate		Expiration	Fair Value		Balance Sheet Location
Interest rate swap (3)	$	15,000	2.571	%	6/1/2023	$	133	Other current asset
Interest rate swap	$	50,000	0.834	%	4/14/2025	$	3,726	Other non-current asset
Interest rate swap	$	30,000	1.186	%	12/14/2026	$	2,871	Other non-current asset
Interest rate swap	$	20,000	2.450	%	8/14/2027	$	1,079	Other non-current asset

(3) Expired during the second quarter of 2023.

Summary of Effects of Interest Rate Swap

The following table summarizes the effects of the interest rate swap on our accompanying Consolidated Statements of Comprehensive Income for the years ended December 31, 2023 and 2022 (in thousands):

	Gain recognized in AOCI, net of tax				Gain reclassified from AOCI into expense
	Twelve Months Ended December 31,				Twelve Months Ended December 31,				Location
	2023		2022		2023		2022
Interest rate swaps	$	393	$	6,255	$	4,285	$	357	Interest expense