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Derivative and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

As of September 30, 2022, we had the following interest rate swap derivatives outstanding:

Effective Date						Notional Amount						Fixed Rate						Maturity Date
						(in millions)
July 30, 2021						$	200.0					0.51		%				December 31, 2025
December 31, 2021						100.0						1.37		%				December 31, 2025
December 31, 2021						100.0						1.37		%				December 31, 2025
December 31, 2025						300.0						3.09		%				December 14, 2028
December 31, 2025						100.0						2.98		%				December 14, 2028

As of December 31, 2021, we had the following interest rate swap derivatives outstanding:

Effective Date						Notional Amount						Fixed Rate						Maturity Date
						(in millions)
July 30, 2021						$	200.0					0.51		%				April 15, 2030
December 31, 2021						100.0						1.37		%				December 15, 2028
December 31, 2021						100.0						1.37		%				December 15, 2028

Derivative Instruments, Gain (Loss)

The following table summarizes amounts recorded to interest expense, net included in the Condensed Consolidated Statements of Operations and Comprehensive Income related to our interest rate swaps (in thousands):

			Three months ended September 30,												Nine months ended September 30,
			2022						2021						2022						2021
(Benefit) expense associated with swap net settlements			$	(1,303)					$	147					$	(344)					$	147
Expense associated with amortization of terminated swaps			1,127						812						2,796						2,412

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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-Name Accounting Standards Codification
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-Paragraph 4C
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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