The following table sets forth the key terms and fair values of our interest rate swap derivatives, each of which was designated as a cash flow hedge (dollars in thousands):

								Fair Value at December 31,
Notional Amount		Fixed Rate			Floating Rate Index	Effective Date	Expiration Date	2020			2019
$	100,000		1.41	%	One-Month LIBOR	March 29, 2017	September 29, 2023	$	(3,397	)	$	541
	150,000		2.71	%	One-Month LIBOR	December 13, 2018	June 19, 2023		(9,384	)		(5,837	)

The table below sets forth the fair value of our interest rate derivatives as well as their classification on our Consolidated Balance Sheets (dollars in thousands):

	Fair Value at December 31,
Balance Sheet Line Item	2020			2019
Interest rate swaps-Asset	$	—		$	541
Interest rate swaps-Liability		(12,781	)		(5,837	)

The gains or losses on derivatives designated and that qualify as cash flow hedges is recorded in Accumulated other comprehensive income (loss) (“AOCI”) and will be reclassified to interest expense in the period that the hedged forecasted transactions affect earnings on the Company’s variable rate debt.

Amounts reported in AOCI related to derivatives designated as qualifying cash flow hedges will be reclassified to interest expense as interest payments are made on the Company's variable rate debt. The Company estimates that $5.2 million will be reclassified from AOCI as an increase to interest expense over the next 12 months.

The table below presents the effects of our interest rate derivatives on our Consolidated Statements of Operations and Comprehensive Income (Loss) (dollars in thousands):

	For the years ended December 31,
	2020			2019			2018
Unrealized loss recognized in AOCI	$	(11,554	)	$	(7,884	)	$	(713	)
Gain (loss) reclassified from AOCI into interest expense		(4,069	)		177			552

The Company has agreements with each of its derivative counterparties that contain a provision where the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company's default on such indebtedness. As of December 31, 2020, the net fair value of derivatives in a liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $13.2 million. As of December 31, 2020, the Company had not breached these provisions of these agreements and had not posted any collateral related to

these agreements. If the Company had breached any of the provisions of these agreements it would be required to settle its obligations under the agreements at their termination value of $13.2 million.