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Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands):
 
 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total
December 31, 2021:    
Liabilities
Derivative financial instruments$— $(3,447)$— $(3,447)
Schedule of Derivative Financial Instruments and Classification on Balance Sheet
The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet as of September 30, 2022 and December 31, 2021, respectively (in thousands):

Derivatives designed as hedging instrumentsBalance sheet locationSeptember 30, 2022 Fair ValueDecember 31, 2021 Fair Value
Interest rate productsOther liabilities$— $(3,447)
Schedule of Gain or Loss Recognized on Interest Rate Derivatives Designated as Cash Flow Hedges
The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2022 and 2021, respectively (in thousands):

 Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
Amount of gain (loss) recognized in OCI on derivatives$61 $(122)$1,104 $(159)
Amount of (gain) loss reclassified from AOCI into interest$(27)$1,469 $2,300 $4,422