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Interest Rate Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of key terms and fair values of interest rate swap derivatives | The following table sets forth the key terms and fair values of our interest rate swap derivatives, each of which was designated as a cash flow hedge of interest rate risk (dollars in thousands):
|  |  |  |  |  |  |  |  |  | Fair Value at
Notional Amount |  | Fixed Rate |  | Floating Rate Index |  | Effective Date |  | Expiration Date |  | June 30, 2021 |  | December 31, 2020
$ | 100,000 |  |  | 1.901% |  | One-Month LIBOR |  | 9/1/2016 |  | 12/1/2022 |  | $ | (2,477) |  |  | $ | (3,394) |
$ | 100,000 |  |  | 1.905% |  | One-Month LIBOR |  | 9/1/2016 |  | 12/1/2022 |  | (2,483) |  |  | (3,401) |
$ | 50,000 |  |  | 1.908% |  | One-Month LIBOR |  | 9/1/2016 |  | 12/1/2022 |  | (1,244) |  |  | (1,704) |
$ | 11,200 |  | (1) | 1.678% |  | One-Month LIBOR |  | 8/1/2019 |  | 8/1/2026 |  | (442) |  |  | (733) |
$ | 23,000 |  | (2) | 0.573% |  | One-Month LIBOR |  | 4/1/2020 |  | 3/26/2025 |  | 46 |  |  | (290) |
|  |  |  |  |  |  |  |  |  | $ | (6,600) |  |  | $ | (9,522) |
(1)The notional amount of this instrument is scheduled to amortize to $10.0 million. (2)The notional amount of this instrument is scheduled to amortize to $22.1 million.
Schedule of fair value and balance sheet classification of interest rate derivatives | The table below sets forth the fair value of our interest rate derivatives as well as their classification on our consolidated balance sheets (in thousands):
|  |  |  | Fair Value at
Derivatives |  | Balance Sheet Location |  | June 30, 2021 |  | December 31, 2020
Interest rate swaps designated as cash flow hedges |  | Prepaid expenses and other assets, net |  | $ | 46 |  |  | $ | — |
Interest rate swaps designated as cash flow hedges |  | Interest rate derivatives (liabilities) |  | $ | (6,646) |  |  | $ | (9,522) |
Schedule of effect of interest rate derivatives on consolidated statements of operations and comprehensive income | The tables below presents the effect of our interest rate derivatives on our consolidated statements of operations and comprehensive income (in thousands):
|  | Amount of (Loss) Income Recognized in AOCL on Derivatives |  | Amount of Loss Reclassified from AOCL into Interest Expense on Statement of Operations
Derivatives in Hedging Relationships |  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30, |  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020
Interest rate derivatives |  | $ | (240) |  |  | $ | (3,315) |  |  | $ | 544 |  |  | $ | (41,020) |  |  | $ | (1,203) |  |  | $ | (935) |  |  | $ | (2,378) |  |  | $ | (1,066) |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + 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 http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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