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Derivative Instruments and Hedging Activities (Tables)
6 Months Ended
Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Liabilities at Fair Value

The fair values of outstanding derivative instruments are as follows (in thousands):

 

 

 

Fair Value of Derivatives

 

 

 

 

 

June 30,
2021

 

 

December 31,
2020

 

 

Balance Sheet
Classification

Derivatives designated as hedges:

 

 

 

 

 

 

 

 

5 year interest rate swap

 

$

 

 

$

(368

)

 

Other long-term (liabilities)

10 year interest rate swap

 

 

 

 

 

(2,123

)

 

Other long-term (liabilities)

10 year forward interest rate swap

 

 

(5,400

)

 

 

 

 

Other long-term (liabilities)

 

$

(5,400

)

 

$

(2,491

)

 

 

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The effect of the interest rate swaps on the consolidated statement of operations is as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

 

June 30,

 

 

June 30,

 

 

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

Income Statement
Classification

Derivatives designated as hedges:

 

 

 

 

 

 

 

 

 

 

 

 

5 year interest rate swap

 

$

 

 

$

51

 

 

$

(831

)

 

$

45

 

 

Increase (decrease) to interest expense

10 year interest rate swap

 

 

 

 

 

125

 

 

 

490

 

 

 

178

 

 

Increase (decrease) to interest expense

 

 

$

 

 

$

176

 

 

$

(341

)

 

$

223