Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 281

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 281
---
in thousands): 

        Type
         
        Notional Amount

        Termination Date
         
        Fixed Rate

        Spot starting
         
        $
        150,000

        April 1, 2024

        0.413
        %

        Spot starting

        75,000

        April 1, 2024

        0.298
        %

        Spot starting

        75,000

        April 1, 2024

        0.298
        %

        Spot starting

        50,000

        March 30, 2028

        3.287
        %

        Spot starting

        100,000

        March 31, 2028

        3.287
        %

        Spot starting

        50,000

        April 8, 2028

        3.282
        %

        Forward starting April 1, 2024

        100,000

        April 1, 2028

        2.932
        %

        Spot starting

        80,000

        March 31, 2028

        4.105
        %

        Spot starting

        20,000

        March 31, 2028

        4.121
        %
       
       Our interest rate swap contracts fix the rate on a portion of our SOFR-based borrowings under our CAPL Credit Facility, have been designated as cash flow hedges and are expected to be highly effective. The first three swap contracts above matured April 1, 2024, and as a result, our effective interest rate on the CAPL Credit Facility has increased since that time.The fair value of these interest rate swap contracts was reported as a separate line item within current assets, noncurrent assets and noncurrent liabilities, as applicable. See Note 17 for additional information on the fair value of the interest rate swap contracts.We report the unrealized gains and losses on our interest rate swap contracts designated as highly effective cash flow hedges as a component of other comprehensive income and reclassify such gains and losses into earnings (interest expense on our statement of income) in the same period during which the hedged interest expense is recorded. We recognized a net realized gain from settlements of the interest rate swap contracts of $10.4 million, $17.0 million and $3.9 million for 2024, 2023 and 202