DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2020

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of fair value of the Company's derivative financial instruments as well as classification on the condensed consolidated balance sheets

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 (in thousands):

		Asset Derivatives					Liability Derivatives
		Fair value as of:					Fair value as of:
Derivatives designated as	Balance Sheet	March 31,		December 31,		Balance Sheet	March 31,		December 31,
hedging instruments	Location	2020		2019		Location	2020		2019
Interest rate products	Other long-term assets	$	—	$	—	Other long-term liabilities	$	1,795	$	363

Schedule of effect of cash flow hedge accounting on other comprehensive income (loss) (OCI)

The tables below present the effect of cash flow hedge accounting on other comprehensive income (loss) (OCI) for the quarters ended March 31, 2020 and 2019 (in thousands):

		Amount of gain (loss) recognized
		in OCI on derivative
Derivatives in cash flow hedging	Three months ended March 31,
relationships	2020		2019
Interest rate products	$	(1,112)	$	(210)

	Amount of (gain) loss reclassified from
Location of (gain) loss	accumulated OCI into income
reclassified from accumulated	Three months ended March 31,
OCI into income	2020		2019
Interest expense	$	31	$	(52)

Schedule of effect of the Company's derivative financial instruments on the condensed consolidated statements of income and comprehensive income

		Total amounts of income and expense
		line items presented that reflect the
		effects of cash flow hedges recorded
Derivatives designated as	Income Statement	Three months ended March 31,
hedging instruments	Location	2020		2019
Interest rate products	Interest Expense	$	1,054	$	1,180

Schedule of fair value provides the location that derivative assets and liabilities

Gross amounts

Net amounts of liabilities

offset in the

presented in the

Gross amounts not offset in the condensed consolidated

Gross amounts

condensed

condensed

balance sheets

As of

of recognized

consolidated

consolidated balance

Financial

Cash collateral

March 31, 2020

liabilities

balance sheets

sheets

instruments

received

Net amount

Derivatives

$

1,795

$

—

$

1,795

$

—

$

—

$

1,795

Gross amounts

Net amounts of liabilities

offset in the

presented in the

Gross amounts not offset in the condensed consolidated

As of

Gross amounts

condensed

condensed

balance sheets

December 31,

of recognized

consolidated

consolidated balance

Financial

Cash collateral

2019

liabilities

balance sheets

sheets

instruments

received

Net amount

Derivatives

$

363

$

—

$

363

$

—

$

—

$

363