6. DERIVATIVES
The Company has identified various embedded derivatives resulting from certain features in the Company’s existing borrowing arrangements, requiring recognition on its condensed consolidated balance sheets. None of these derivative instruments are designated as a hedge. The following table discloses the fair values of the derivative instruments on the Company’s condensed consolidated balance sheets (in thousands):
| | | | | | | | | | | | | | June 30, 2021 | | December 31, 2020 | | Derivative assets: | | | | | Compound embedded derivative with the Second Lien Facility Agreement | $ | 668 | | | $ | 286 | | | Total derivative assets | $ | 668 | | | $ | 286 | | | | | | | Derivative liabilities: | | | | Compound embedded derivative with the 2013 8.00% Notes | $ | (2,944) | | | $ | (123) | | | | | | | | | | | Total derivative liabilities | $ | (2,944) | | | $ | (123) | |
The derivative asset recorded for the Compound embedded derivative with the Second Lien Facility Agreement is included in Intangible and other assets, net on the Company's consolidated balance sheets.
The following table discloses the changes in value recorded as derivative gain (loss) in the Company’s condensed consolidated statement of operations (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, 2021 | | June 30, 2020 | | June 30, 2021 | | June 30, 2020 | Compound embedded derivative with the 2013 8.00% Notes | $ | (1,077) | | | $ | 20 | | | $ | (2,821) | | | $ | 267 | | | Compound embedded derivative with the Loan Agreement with Thermo | — | | | — | | | — | | | 212 | | | Compound embedded derivative with the Second Lien Facility Agreement | (233) | | | 1,140 | | | 382 | | | (140) | | | Total derivative loss | $ | (1,310) | | | $ | 1,160 | | | $ | (2,439) | | | $ | 339 | |
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