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Derivative Financial Instruments | 3 Months Ended
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Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | NOTE 5: Derivative Financial Instruments The following table summarizes the aggregate notional amounts and estimated net fair values of our derivative instruments as of March 31, 2021 and December 31, 2020:
|  | As of March 31, 2021 |  |  | As of December 31, 2020 |
|  | Notional |  |  | Fair Value of Assets |  |  | Fair Value of Liabilities |  |  | Notional |  |  | Fair Value of Assets |  |  | Fair Value of Liabilities |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  | $ | 150,000 |  |  | $ | — |  |  |  | 326 |  |  | $ | 150,000 |  |  | $ | — |  |  | $ | 694 |
Interest rate collars |  |  | 250,000 |  |  |  | — |  |  |  | 10,570 |  |  |  | 250,000 |  |  |  | — |  |  |  | 13,331 |
Forward interest rate swaps |  |  | — |  |  |  | 2,810 |  |  |  | 8,644 |  |  |  | — |  |  |  | — |  |  |  | 15,817 |
Total |  | $ | 400,000 |  |  | $ | 2,810 |  |  |  | 19,540 |  |  | $ | 400,000 |  |  | $ | — |  |  | $ | 29,842 |
Effective interest rate swaps and caps are reported in accumulated other comprehensive income, and the fair value of these hedge agreements is included in other assets or other liabilities. For our interest rate swap and collars that are considered highly effective hedges, we reclassified realized gains of $1,458 to earnings within interest expense for the three months ended March 31, 2021, and we expect ($8,294) to be reclassified out of accumulated other comprehensive income (loss) into earnings over the next 12 months.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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