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Interest Rate Derivatives (Tables) | 12 Months Ended
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Dec. 31, 2022
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 (dollars in thousands):
Notional Amount |  |  |  |  |  | Effective Date |  | Expiration Date |  | Fair Value at December 31,
| Fixed Rate |  | Floating Rate Index |  |  |  | 2022 |  | 2021
$ | 10,880 |  | (1) | 1.678 | % |  | SOFR plus 0.10% |  | 8/1/2019 |  | 8/1/2026 |  | $ | 806 |  |  | $ | (234) |
$ | 22,775 |  | (2) | 0.573 | % |  | SOFR plus 0.10% |  | 4/1/2020 |  | 3/26/2025 |  | 1,825 |  |  | 355 |
$ | 100,000 |  |  | 1.901 | % |  | One-Month LIBOR |  | 9/1/2016 |  | 12/1/2022 |  | — |  |  | (1,361) |
$ | 100,000 |  |  | 1.905 | % |  | One-Month LIBOR |  | 9/1/2016 |  | 12/1/2022 |  | — |  |  | (1,365) |
$ | 50,000 |  | (3) | 1.908 | % |  | One-Month LIBOR |  | 9/1/2016 |  | N/A |  | — |  |  | (684) |
|  |  |  |  |  |  |  |  |  | $ | 2,631 |  |  | $ | (3,289) |
(1)The notional amount of this instrument is scheduled to amortize to $10.0 million. Effective December 1, 2022, we amended this swap to change the floating rate index from one-month LIBOR to SOFR plus 0.10%. We made elections under reference rate reform related accounting guidance to not result in a dedesignation of this hedging relationship. (2)The notional amount of this instrument is scheduled to amortize to $22.1 million. Effective December 1, 2022, we amended this swap to change the floating rate index from one-month LIBOR to SOFR plus 0.10%. We made elections under reference rate reform related accounting guidance to not result in a dedesignation of this hedging relationship. (3)We cash settled this swap and accrued interest thereon for $625,000 on January 28, 2022.
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 December 31,
Derivatives |  | Balance Sheet Location |  | 2022 |  | 2021
Interest rate swaps designated as cash flow hedges |  | Prepaid expenses and other assets, net |  | $ | 2,631 |  |  | $ | 355 |
Interest rate swaps designated as cash flow hedges |  | Other liabilities |  | $ | — |  |  | $ | (2,960) |
Interest rate swap not designated |  | Other liabilities |  | $ | — |  |  | $ | (684) |
Schedule of effect of interest rate derivatives on consolidated statements of operations and comprehensive income | The tables below present the effect of our interest rate derivatives on our consolidated statements of operations and comprehensive income (in thousands):
|  | Amount of Income (Loss) Recognized in AOCI/AOCL on Derivatives |  | Amount of Loss Reclassified from AOCI/AOCL into Interest Expense on Statement of Operations
|  | For the Years Ended December 31, |  | For the Years Ended December 31,
Derivatives in Hedging Relationships |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Interest rate derivatives |  | $ | 4,730 |  |  | $ | 1,379 |  |  | $ | (39,454) |  |  | $ | (996) |  |  | $ | (5,048) |  |  | $ | (3,725) |
|  | Amount of Loss Reclassified from AOCL into Loss on Interest Rate Derivatives on Statement of Operations |  | Amount of Loss Recognized on Undesignated Swaps in Loss on Interest Rate Derivatives on Statement of Operations
|  | For the Years Ended December 31, |  | For the Years Ended December 31,
Derivatives in Hedging Relationships |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Interest rate derivatives |  | $ | — |  |  | $ | — |  |  | $ | (51,865) |  |  | $ | — |  |  | $ | — |  |  | $ | (1,265) |

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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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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