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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Swaps

The terms and notional values of our derivative instruments were as follows as of June 30, 2021:

(dollars in thousands)			Term of derivative instrument			Notional value
Derivative instruments designated as hedging instruments:
Interest rate swap			July 2017 - July 2021			$	150,000
Interest rate swap			November 2020 - October 2024			60,000
Interest rate swap			November 2020 - October 2024			60,000
Interest rate swap			June 2021 - October 2024			120,000
						$	390,000
Forward-starting interest rate swap			July 2021 - October 2024			120,000
						$	120,000

Fair Values of Derivative Instruments

The fair values of our derivative instruments were as follows as of:

						Asset derivatives												Liability derivatives
(dollars in thousands)			Balance sheet location			June 30, 2021			December 31, 2020						Balance sheet location			June 30, 2021			December 31, 2020
Derivative instruments designated as hedging instruments:
Interest rate swaps, current portion			Prepaid expenses and other current assets			$	—		$	—					Accrued expenses and other current liabilities			$	138		$	2,698
Interest rate swaps, long-term portion			Other assets			2,061			—						Other liabilities			—			1,461
Total derivative instruments designated as hedging instruments						$	2,061		$	—								$	138		$	4,159

Effects of Derivative Instruments in Cash Flow Hedging Relationships

The effects of derivative instruments in cash flow hedging relationships were as follows:

			Gain (loss) recognized in accumulated other comprehensive loss as of			Location of gain (loss) reclassified from accumulated other comprehensive loss into income			Gain (loss) reclassified from accumulated  other comprehensive loss into income
(dollars in thousands)			June 30, 2021						Three months ended June 30, 2021						Six months ended June 30, 2021
Interest rate swaps			$	1,923		Interest expense			$	(1,408)					$	(2,784)
			June 30, 2020						Three months ended June 30, 2020						Six months ended June 30, 2020
Interest rate swaps			$	(5,233)		Interest expense			$	(1,018)					$	(1,223)

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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 http://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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ 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
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