DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2022

DERIVATIVE INSTRUMENTS

Schedule of interest cap agreements

Interest Rate Cap Detail						Notional Amount Outstanding
						March 31,
Trade date	Cap Rate		Start Date	End Date		2022
March 25, 2021	0.75	%	April 29, 2021	March 28, 2024	$	50,000
July 29, 2020	0.75	%	July 31, 2020	December 29, 2023		100,000
March 6, 2020	1.50	%	March 10, 2020	March 10, 2023		50,000
					$	200,000

Schedule of the effect of fair value and cash flow hedge accounting on the statement of operations

The Effect of Fair Value and Cash Flow Hedge Accounting on the Statements of Operations
	For the Three Months Ended March 31,
	2022		2021
	Interest Expense		Interest Expense
Total amounts of income and expense line items presented in the statements of operations in which the effects of fair value or cash flow hedges are recorded	$	2,242	$	4,541
The effects of fair value and cash flow hedging
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20:
Interest contracts:
Amount of gain or (loss) reclassified from AOCI to income	$	—	$	—
Premium excluded and recognized on an amortized basis		43		69
Amount of gain or (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring		—		—

Schedule of interest rate cap assets

			March 31,		December 31,
Derivatives designated as hedging instruments	Balance Sheet Location		2022		2021
Interest rate caps	Fair value of derivative instruments - current	$	1,822	$	—
Interest rate caps	Fair value of derivative instruments - noncurrent	$	2,594	$	1,166

Components of AOCI included in the accompanying condensed consolidated balance sheet

AOCI — January 1, 2022	$	825
Amount recognized in OCI on derivative, intrinsic		3,675
Amount recognized in OCI on derivative, excluded		(382)
Amount reclassified from OCI into income		—
AOCI — March 31, 2022	$	4,118