Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Outstanding Derivative Instruments

As of June 30, 2020 and December 31, 2019, we had the following outstanding interest rate derivatives that were designated as effective cash flow hedges of interest rate risk (in thousands):


										Fair Value at Significant Other
Notional Amount										Observable Inputs (Level 2)
As of			As of							As of		As of
June 30,			December 31,			Type of	Strike	Effective	Expiration	June 30,		December 31,
2020			2019			Derivative	Rate	Date	Date	2020 ⁽³⁾		2019 ⁽³⁾
Currently-paying contracts
$	29,000	⁽¹⁾	$	29,000	⁽¹⁾	Swap	1.016	Apr 6, 2016	Jan 6, 2021	$	(129)	$	175
	75,000	⁽¹⁾		75,000	⁽¹⁾	Swap	1.164	Jan 15, 2016	Jan 15, 2021		(411)		345
	300,000	⁽¹⁾		300,000	⁽¹⁾	Swap	1.435	Jan 15, 2016	Jan 15, 2023		(10,108)		945
	72,555	⁽²⁾		75,825	⁽²⁾	Swap	0.779	Jan 15, 2016	Jan 15, 2021		(103)		931
$	476,555		$	479,825						$	(10,751)	$	2,396

(1)	Represents debt which bears interest based on one-month U.S. LIBOR.

(2)	Represents debt which bears interest based on one-month CDOR. Translation to U.S. dollars is based on exchange rates of $0.74 to 1.00 CAD as of June 30, 2020 and $0.77 to 1.00 CAD as of December 31, 2019.

(3)	Balance recorded in other assets in the consolidated balance sheets if positive and recorded in accounts payable and other accrued liabilities in the consolidated balance sheets if negative.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details