XML 37 R22.htm IDEA: XBRL DOCUMENT
v3.22.2

Derivative Financial Instruments | 6 Months Ended
--- | ---
Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Derivative Financial Instruments We previously entered into floating-to-fixed interest rate swaps through January 2022 with respect to an aggregate of $50.0 million LIBOR-based borrowings. These swaps effectively fixed the underlying one month LIBOR rate at a weighted average rate of 1.693%. During the first quarter of 2022, these interest rate swaps expired. Our interest rate swaps were designated as and accounted for as cash flow hedges with changes in fair value recorded in other comprehensive income/(loss) each reporting period. We had no collateral requirements related to our interest rate swaps. Amounts reported in accumulated other comprehensive income/(loss) related to derivatives are reclassified to interest expense as interest payments are made on our debt. During the period from July 1, 2022 through June 30, 2023, we estimate that $0.3 million will be reclassified as a net decrease to interest expense. The following table sets forth the fair value of our derivatives:
| June 30, 2022 |  | December 31, 2021
Derivatives: |  |  |
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities: |  |  |
Interest rate swaps | $ | — |  |  | $ | 60 |
The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive loss and interest expense:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Derivatives Designated as Cash Flow Hedges: |  |  |  |  |  |  |
Amount of unrealized losses recognized in accumulated other comprehensive loss on derivatives: |  |  |  |  |  |  |
Interest rate swaps | $ | — |  |  | $ | (11) |  |  | $ | — |  |  | $ | (11) |
Amount of (gains)/losses reclassified out of accumulated other comprehensive loss into interest expense: |  |  |  |  |  |  |
Interest rate swaps | $ | (74) |  |  | $ | 126 |  |  | $ | (89) |  |  | $ | 248 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration