Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments

Schedule of Outstanding Derivative Instruments

We had no outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk as of December 31, 2021. The table below shows outstanding amounts as of December 31, 2020 (in thousands):

Notional Amount							Fair Value at Significant Other
As of							As of
December 31,			Type of	Strike	Effective	Expiration	December 31,
2020			Derivative	Rate	Date	Date	2020 (3)
$	104,000	(1)	Swap	1.435	Jan 15, 2016	Jan 15, 2023	$	(2,773)
	77,352	(2)	Swap	0.779	Jan 15, 2016	Jan 15, 2021		(9)
$	181,352						$	(2,782)

(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 $0.79 to 1.00 CAD as of  December 31, 2021 and $0.79 to 1.00 CAD as of December 31, 2020.

(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.