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Derivatives
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
On April 24, 2018, we entered into four interest rate swap agreements with third-party financial institutions having an aggregate notional amount of $1.5 billion. On January 3, 2019, we entered into two additional interest rate swap agreements with third-party financial institutions having an aggregate notional amount of $500.0 million, which matured on January 22, 2021. The interest rate swap transactions are designated as cash flow hedges that effectively fix the LIBOR component of the interest rate on a portion of the outstanding debt under the Term Loan B Facility at 2.8297%. As of March 31, 2021 and for the duration of the remaining interest rate swap transactions, we are subject to interest rate risk on $600.0 million of variable rate debt.
The following tables detail our outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk as of March 31, 2021 and December 31, 2020:
($ In thousands)March 31, 2021
InstrumentNumber of InstrumentsFixed RateNotionalIndexMaturity
Interest Rate Swaps42.8297%$1,500,000 USD LIBORApril 22, 2023
($ In thousands)December 31, 2020
InstrumentNumber of InstrumentsFixed RateNotionalIndexMaturity
Interest Rate Swaps42.8297%$1,500,000 USD LIBORApril 22, 2023
Interest Rate Swaps22.3802%$500,000 USD LIBORJanuary 22, 2021
As of March 31, 2021 and December 31, 2020, the interest rate swaps are in net unrealized loss positions and are recorded within Other liabilities. The following table presents the effect of our derivative financial instruments on our Statement of Operations:
Three Months Ended March 31,
(In thousands)20212020
Unrealized gain (loss) recorded in other comprehensive income$12,378 $(53,138)
Interest recorded in interest expense$10,826 $5,580