Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of outstanding interest rate derivatives

As of March 31, 2021, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (dollars in thousands):

Interest Rate Derivative	Current Notional Amount		Fixed Rate		Maturity
Interest rate swap	$	1,001	5.25	%	April 1, 2022

Schedule of fair value of derivative financial instruments and classification on consolidated balance sheets

The table below presents the fair value of the Company’s derivative financial instruments as well as its classification on the consolidated balance sheets as of the dates indicated (dollars in thousands):

Derivatives as of:
March 31, 2021			December 31, 2020
Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Accounts payable and accrued liabilities	$	18	Accounts payable and accrued liabilities	$	23

Schedule of effect of derivative financial instrument on consolidated statements of comprehensive (loss) income

The following table presents the effect of the Company’s interest rate swaps on the consolidated statements of comprehensive income (loss) for the dates indicated (dollars in thousands):

	Three Months Ended March 31,
	2021		2020
Amount of (loss) gain recognized on derivative in Other Comprehensive Income	$	—	$	(24)
Amount of (loss) gain reclassified from Accumulated Other Comprehensive Income into Interest expense	$	(5)	$	(1)
Total amount of Interest expense presented in the Consolidated Statements of Operations	$	1,660	$	1,860