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Derivative Instruments and Hedging Activity (Tables) | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activity |
Schedule of notional amounts of outstanding derivative positions | The Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (in thousands, except number of instruments): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of Instruments 1 | ​ | Notional 1
​ | ​ | September 30, | ​ | December 31, | ​ | September 30, | ​ | December 31,
Interest Rate Derivatives |  | 2021 |  | 2020 |  | 2021 |  | 2020
Interest rate swap |  | 3 |  | 16 | ​ | $ | 300,000 | ​ | $ | 505,000
​ 1 Number of Instruments and total Notional disclosed includes all interest rate swap agreements outstanding at the balance sheet date, including forward-starting swaps prior to their effective date.
Schedule of derivative instruments in statement of financial position, fair value | The table below presents the estimated fair value of the Company’s derivative financial instruments, as well as their classification in the Condensed Consolidated Balance Sheets (in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Asset Derivatives
​ | ​ | September 30, 2021 | ​ | December 31, 2020
​ |  | Fair Value |  | Fair Value
Derivatives designated as cash flow hedges: |  | ​ |  |  | ​ |
Other Assets, net | ​ | $ | 2,109 | ​ | $ | 2,286
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Liability Derivatives
​ | ​ | September 30, 2021 | ​ | December 31, 2020
​ |  | Fair Value |  | Fair Value
Derivatives designated as cash flow hedges: |  | ​ |  |  | ​ |
Accounts Payable, Accrued Expenses, and Other Liabilities | ​ | $ | 2,880 | ​ | $ | 16,985
Schedule of cash flow hedges included in accumulated other comprehensive income (loss) | The table below presents the effect of the Company’s derivative financial instruments in the Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended September 30, 2021 and 2020 (in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Location of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Derivatives in | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Income/(Loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Cash Flow | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Reclassified from | ​ | Amount of Income/(Loss) | ​ | ​ | ​
​ | ​ | Hedging | ​ | Amount of Income/(Loss) Recognized | ​ | Accumulated OCI | ​ | Reclassified from | ​ | ​ | ​
​ | ​ | Relationships | ​ | in OCI on Derivative | ​ | into Income | ​ | Accumulated OCI into Expense | ​ | ​ | ​
Three Months Ended September 30, |  | ​ |  | 2021 |  | 2020 |  | ​ |  | 2021 |  | 2020 | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Interest rate swaps | ​ | $ | 3,300 | ​ | $ | (3,289) |  | Interest Expense | ​ | $ | 82 | ​ | $ | 1,028 | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, | ​ | ​ |  | 2021 |  | 2020 | ​ | ​ |  | 2021 |  | 2020 | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Interest rate swaps | ​ | $ | 15,653 | ​ | $ | (36,667) | ​ | Interest Expense | ​ | $ | 2,529 | ​ | $ | 1,365 | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Loss on extinguishment of debt and settlement of related hedges | ​ | $ | 13,363 | ​ | $ | — | ​ | ​ | ​
​
Schedule of offsetting assets and liabilities | The table below presents a gross presentation of the effects of offsetting and a net presentation of the Company’s derivatives as of September 30, 2021 and December 31, 2020. The gross amounts of derivative assets or liabilities can be reconciled to the Tabular Disclosure of Fair Values of Derivative Instruments above, which also provides the location that derivative assets and liabilities are presented on the Condensed Consolidated Balance Sheets (in thousands): Offsetting of Derivative Assets as of September 30, 2021 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross Amounts |  | Net Amounts of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Offset in the | ​ | Assets presented | ​ | Gross Amounts Not Offset in the
​ | ​ | Gross Amounts |  | Statement of | ​ | in the Statement | ​ | Statement of Financial Position
​ | ​ | of Recognized | ​ | Financial | ​ | of Financial |  | Financial |  | Cash Collateral | ​ | ​ | ​
​ |  | Assets |  | Position |  | Position |  | Instruments |  | Received |  | Net Amount
Derivatives | ​ | $ | 2,109 | ​ | $ | — | ​ | $ | 2,109 | ​ | $ | (1,451) | ​ | $ | — | ​ | $ | 658
​ Offsetting of Derivative Liabilities as of September 30, 2021 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Net Amounts of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Gross Amounts |  | Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Offset in the |  | presented in the |  | Gross Amounts Not Offset in the
​ |  | Gross Amounts |  | Statement of |  | Statement of |  | Statement of Financial Position
​ |  | of Recognized |  | Financial |  | Financial |  | Financial |  | Cash Collateral | ​ | ​ | ​
​ |  | Liabilities |  | Position |  | Position |  | Instruments |  | Posted |  | Net Amount
Derivatives | ​ | $ | 2,880 | ​ | $ | — | ​ | $ | 2,880 | ​ | $ | (1,451) | ​ | $ | — | ​ | $ | 1,429
​ Offsetting of Derivative Assets as of December 31, 2020 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross Amounts | ​ | Net Amounts of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Offset in the |  | Assets presented |  | Gross Amounts Not Offset in the
​ |  | Gross Amounts |  | Statement of |  | in the Statement |  | Statement of Financial Position
​ |  | of Recognized |  | Financial |  | of Financial |  | Financial |  | Cash Collateral | ​ | ​ | ​
​ |  | Assets |  | Position |  | Position |  | Instruments |  | Received |  | Net Amount
Derivatives | ​ | $ | 2,286 | ​ | $ | — | ​ | $ | 2,286 | ​ | $ | (1,258) | ​ | $ | — | ​ | $ | 1,028
​ Offsetting of Derivative Liabilities as of December 31, 2020 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Net Amounts of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Gross Amounts |  | Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Offset in the |  | presented in the |  | Gross Amounts Not Offset in the
​ |  | Gross Amounts |  | Statement of |  | Statement of |  | Statement of Financial Position
​ |  | of Recognized |  | Financial |  | Financial |  | Financial |  | Cash Collateral | ​ | ​ | ​
​ |  | Liabilities |  | Position |  | Position |  | Instruments |  | Posted |  | Net Amount
Derivatives | ​ | $ | 16,985 | ​ | $ | — | ​ | $ | 16,985 | ​ | $ | (1,258) | ​ | $ | — | ​ | $ | 15,727

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