DERIVATIVES AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives

As of September 30, 2021, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate Derivative	Number of Instruments	Notional
Interest Rate Cap	1	$	60,127

Schedule of Fair Value of Derivative Instruments

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheets as of September 30, 2021 and December 31, 2020.

	Asset Derivatives					Liability Derivatives
		Fair Value at:					Fair Value at:
	Balance Sheet Classification	September 30, 2021		December 31, 2020		Balance Sheet Classification	September 30, 2021		December 31, 2020
Interest Rate Cap	Other noncurrent assets	$	54	$	—	Other noncurrent liabilities	$	—	$	—

Schedule of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income

The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income for the three months ended September 30, 2021 and September 30, 2020.

Effect of Derivative Instruments on the Consolidated Statements of Income
	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative				Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
	Three Months Ended September 30,					Three Months Ended September 30,
	2021		2020			2021		2020
Interest Rate Swap	$	—	$	105	Interest Expense (a)	$	—	$	49
Interest Rate Cap	$	(13)	$	—	Interest Expense (a)	$	—	$	—
Total	$	(13)	$	105		$	—	$	49
(a) Total interest expense presented in the consolidated income statements for the three months ended September 30, 2021 and 2020 was $1,104 and $1,172, respectively.

The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income for the nine months ended September 30, 2021 and September 30, 2020.

Effect of Derivative Instruments on the Consolidated Statements of Income
	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative				Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
	Nine Months Ended September 30,					Nine Months Ended September 30,
	2021		2020			2021		2020
Interest Rate Swap	$	—	$	(115)	Interest Expense (a)	$	(38)	$	148
Interest Rate Cap	$	(33)	$	—	Interest Expense (a)	$	—	$	—
Total	$	(33)	$	(115)		$	(38)	$	148
(a) Total interest expense presented in the consolidated income statements for the nine months ended September 30, 2021 and 2020 was $3,213 and $3,841, respectively.