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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets:
|  |  |  |  |  |  |  |  |  |  | Fair Value |
(in thousands) |  |  |  |  |  |  |  |  |  |  | Assets (Liabilities) (1) |
Effective Date |  | Maturity Date |  | Notional Amount |  |  | Receive Variable Rate of |  | Pay Fixed Rate of |  | September 30, 2021 |  |  | December 31, 2020 |
8/1/16 |  | 1/5/22 (2) |  | $ | 265,000 |  |  | 1 Month LIBOR with Floor |  | 1.053% |  | $ | — |  |  |  | (2,472 | )
4/7/16 |  | 4/1/23 |  |  | 19,124 |  |  | 1 Month LIBOR |  | 1.303% |  |  | (312 | ) |  |  | (494 | )
12/1/16 |  | 11/1/23 |  |  | 31,917 |  |  | 1 Month LIBOR |  | 1.490% |  |  | (754 | ) |  |  | (1,181 | )
9/17/19 |  | 3/17/25 |  |  | 24,000 |  |  | 1 Month LIBOR |  | 1.542% |  |  | (729 | ) |  |  | (1,288 | )
6/2/17 |  | 6/2/27 |  |  | 36,163 |  |  | 1 Month LIBOR with Floor |  | 2.366% |  |  | (2,470 | ) |  |  | (3,856 | )
|  |  |  |  |  |  |  |  |  |  | $ | (4,265 | ) |  |  | (9,291 | )
(1) | Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities.
(2) | In January 2021, the Company cash settled before maturity $265 million of notional interest rate swaps in connection with its repayment of the Term Loan.
Derivative Instruments, Gain (Loss) | The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements:
Location and Amount of Gain (Loss) Recognized in OCI on Derivative |  |  | Location and Amount of Gain (Loss) Reclassified from AOCI into Income |  |  | Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded |
|  | Three months ended September 30, |  |  |  |  | Three months ended September 30, |  |  |  |  | Three months ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |  |  |  |  | 2021 |  |  | 2020 |  |  |  |  | 2021 |  |  | 2020 |
Interest rate swaps |  | $ | 138 |  |  |  | (666 | ) |  | Interest expense |  | $ | 1,040 |  |  |  | 2,570 |  |  | Interest expense, net |  | $ | 35,993 |  |  |  | 40,794 |
|  | Nine months ended September 30, |  |  |  |  | Nine months ended September 30, |  |  |  |  | Nine months ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |  |  |  |  | 2021 |  |  | 2020 |  |  |  |  | 2021 |  |  | 2020 |
Interest rate swaps |  | $ | 3,646 |  |  |  | (19,187 | ) |  | Interest expense |  | $ | 3,109 |  |  |  | 6,479 |  |  | Interest expense, net |  | $ | 108,741 |  |  |  | 118,605 |

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