Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments (Tables)

v3.21.2
Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Values of Interest Rate Swaps
The fair values of the interest rate swaps as of June 30, 2021 and December 31, 2020, are as follows (in thousands):
Fair Value
Derivative Liabilities
Derivative Instrument Aggregate Notional Amount Effective Date Maturity Date June 30, 2021 December 31, 2020
Interest rate swaps $ 150,000  March 31, 2017 July 21, 2023 $ (2,869) $ (4,009)
Interest rate swaps 100,000  June 29, 2018 July 21, 2023 (4,802) (6,246)
$ (7,671) $ (10,255)
Schedule of Unrealized Gain (Loss) and Reclassification of Interest Rate Swap The net unrealized gains or losses on the effective swaps are recognized in Other comprehensive loss, as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2021 2020 2021 2020
Unrealized gain (loss) on interest rate hedges $ 1,004  $ (1,789) $ 2,584  $ (36,356)

Amounts reported in Accumulated other comprehensive loss related to effective cash flow hedges will be reclassified to interest expense as interest payments are made on our variable-rate debt. The gains or losses reclassified from Accumulated other comprehensive loss into interest expense for the three and six months ended June 30, 2021 and 2020, were as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2021 2020 2021 2020
Loss reclassified from Accumulated other comprehensive loss into interest expense $ 509  $ —  $ 1,019  $ —