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Hedge Accounting (Tables) - Designated as Hedging Instrument - Cash Flow Hedging
3 Months Ended
Mar. 31, 2021
Derivative Contracts  
Schedule of fair value of derivative instruments

($ in thousands)

Instrument

 

Balance sheet location

 

Level 2 Fair Value

Interest rate swap

Derivative liability

$

1,581

Schedule of effect of derivative instruments on the consolidated statement of operations

The effect of derivative instruments on the consolidated statements of operations for the periods ended March 31, 2021 and 2020 is set out below:

Cash flow hedging relationships

Location of Gain (Loss) reclassified from Accumulated OCI into income

Interest rate contracts

Interest expense

Schedule of movement in other comprehensive income

($ in thousands)

March 31, 2021

 

December 31, 2020

Beginning accumulated derivative instrument gain or loss

$

(2,380)

$

(1,644)

Net change associated with current period hedging transactions

1,208

(1,582)

Amortization of frozen AOCI on de-designated hedge

293

846

Difference between a change in fair value of excluded components

Closing accumulated derivative instrument gain or loss

$

(879)

$

(2,380)