Company: ONEW
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001772921-25-000013
Chunk: 90

Company: OneWater Marine Inc.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 to a single net present value amount. The following table provides information regarding the fair value of the interest rate swap agreements and the impact on the unaudited condensed consolidated balance sheets at ($ in thousands):Balance Sheet LocationDecember 31, 2024September 30, 2024Prepaid expenses and other current assets$2,500 $1,560 Other long-term assets2,723 — Other long-term liabilities— (3,626)Net asset (liability)$5,223 $(2,066)The interest rate swaps qualify for cash flow hedge accounting treatment. The interest rate swaps are marked to market each reporting date and any unrealized gains or losses, and the related income tax effects, are included in accumulated other comprehensive income (loss) and reclassified into earnings in the same period during which the hedged transactions affect earnings. Information about the effect of the interest swap agreements in the accompanying unaudited condensed consolidated statements of operations and unaudited condensed consolidated statements of comprehensive income (loss), is as follows ($ in thousands):For the three months ended December 31,Results Recognized in Accumulated Other Comprehensive Income (Loss) (effective Portion)Location of Results Reclassified from Accumulated Other Comprehensive Income (Loss) to EarningsResults Reclassified from Accumulated Other Comprehensive Income (Loss) to Earnings2024$8,573 Interest expense – other and Interest expense – floor plan$1,284 2023$— Interest expense – other and Interest expense – floor plan$— The following table sets forth the location and amount of gain or (loss) recognized in earnings on cash flow hedging relationships for the three months ended December 31, 2024 and 2023 ($ in thousands):December 31, 2024December 31, 2023Interest expense – otherInterest expense – floor planInterest expense – otherInterest expense – floor planAmount of gain or (loss) reclassified from accumulated other comprehensive income (loss) to earnings$568 $716 $— $— As of December 31, 2024, the amount expected to be reclassified out of accumulated other comprehensive income (loss) into earnings during the next 12 months is gains of $2.6 million. The ultimate amount recognized will vary based on fluctuations of interest rates through the maturity dates.

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11.    Stockholders’ Equity

Equity-Based CompensationWe maintain the OneWater Marine Inc. Omnibus Incentive Plan