DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 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 consolidated balance sheets as of December 31, 2020, and 2019 (in thousands):

		Liability Derivatives
		Fair value as of:
Derivatives designated as	Balance Sheet	December 31,
hedging instruments	Location	2020		2019
Interest rate products	Other long-term liabilities	$	1,889	$	363

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

The table below presents the effect of cash flow hedge accounting on other comprehensive income (loss) (OCI) for the years ended December 31, 2020, 2019 and 2018 (in thousands):

	Amount of pre-tax loss recognized in OCI
	on derivatives
Derivatives in cash flow hedging relationships	Year ended December 31,
	2020		2019
Interest rate products	$	(2,163)	$	(816)

Location of (loss) gain reclassified	Amount of pre-tax (loss) gain reclassified from accumulated OCI into income
from accumulated OCI into income	Year ended December 31,
	2020		2019		2018
Interest expense	$	(637)	$	113	$	6

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

The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of income and comprehensive income for the years ended December 31, 2020, 2019 and 2018 (in thousands):

		Total amounts of income and expense line items presented
		that reflect the effects of cash flow hedges recorded
		Year ended December 31,
Derivatives designated as hedging instruments	Income Statement Location	2020		2019		2018
Interest rate products	Interest Expense	$	3,716	$	5,134	$	2,701

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

Gross amounts

Net amounts of liabilities

Gross amounts not offset in the consolidated

As of

Gross amounts

offset in the

presented in the

balance sheets

December 31,

of recognized

consolidated

consolidated

Financial

Cash collateral

2020

liabilities

balance sheets

balance sheets

instruments

received

Net amount

Derivatives

$

1,889

$

—

$

1,889

$

—

$

—

$

1,889

Gross amounts

Net amounts of liabilities

Gross amounts not offset in the consolidated

As of

Gross amounts

offset in the

presented in the

balance sheets

December 31,

of recognized

consolidated

consolidated

Financial

Cash collateral

2019

liabilities

balance sheets

balance sheets

instruments

received

Net amount

Derivatives

$

363

$

—

$

363

$

—

$

—

$

363