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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of cash flow hedges included in accumulated other comprehensive income (loss)

As of June 30, 2022, the Company had eight outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

DERIVATIVE INSTRUMENT			NUMBER OF INSTRUMENTS			NOTIONAL AMOUNT in millions
Interest rate swaps			8			$175.0

The table below presents the effect of cash flow hedge accounting on AOCI during the three and six months ended June 30, 2022 and 2021 related to the Company's outstanding interest rate swaps.

			(GAIN) LOSS RECOGNIZED IN AOCI ON DERIVATIVE three months ended June 30,									LOSS RECLASSIFIED FROM AOCI INTO INCOME three months ended June 30,
In thousands			2022			2021						2022			2021
Interest rate swaps			$	(1,663)		$	807		Interest expense			$	674		$	965
Settled treasury hedges			—			—			Interest expense			107			107
Settled interest rate swaps			—			—			Interest expense			42			42
			$	(1,663)		$	807		Total interest expense			$	823		$	1,114

			GAIN RECOGNIZED IN AOCI ON DERIVATIVE six months ended June 30,									LOSS RECLASSIFIED FROM AOCI INTO INCOME six months ended June 30,
In thousands			2022			2021						2022			2021
Interest rate swaps			$	(6,822)		$	(2,043)		Interest expense			$	1,612		$	1,912
Settled treasury hedges			—			—			Interest expense			213			213
Settled interest rate swaps			—			—			Interest expense			84			84
			$	(6,822)		$	(2,043)		Total interest expense			$	1,909		$	2,209

Schedule of derivative instruments in statement of financial position, fair value

The table below presents the fair value of the Company's derivative financial instruments, as well as their classification on the Condensed Consolidated Balance Sheet as of June 30, 2022.

			BALANCE AT JUNE 30, 2022
In thousands			BALANCE SHEET LOCATION			FAIR VALUE
Derivatives designated as hedging instruments
Interest rate swaps 2017, 2018, and 2019			Other assets			$	2,516

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- References

No definition available.

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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