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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of the terms of our outstanding financial instruments on the company's balance sheet
The following table summarizes the terms of our outstanding derivative financial instruments on the Company's balance sheet as of September 30, 2024 and December 31, 2023:
Derivative TypeNumber of InstrumentsEffective DateMaturity DateNotional ValueFair Value of Asset/(Liability)
September 30, 2024December 31, 2023
Term Loan Interest Rate Swap47/1/20221/31/2025$300,000 $2,894 $9,471 
Term Loan Forward Interest Rate Swap51/31/20251/31/2027250,000 (304)— 
Trust Preferred Securities Forward Interest Rate Swap210/30/202410/30/202782,500 (21)— 
$632,500 $2,569 $9,471 
Effect of the Company's Derivative Financial Instruments on the Statements of Operation
The table below presents the effect of the Company's derivative financial instruments on the unaudited condensed consolidated statements of operations for the nine months ended September 30, 2024 and 2023:
Derivatives in Cash FlowAmount of Gain
Recognized in OCI on Derivatives
September 30,
Amount of (Income) Loss
Reclassified from Accumulated OCI into Income(1)
September 30,
Hedging Relationships2024202320242023
Interest Rate Swaps$1,540 $5,029 $(8,442)$(7,503)
The Company's share of non-consolidated entity's interest rate cap152 235 (215)(1,088)
Total$1,692 $5,264 $(8,657)$(8,591)
(1)    Amounts reclassified from accumulated other comprehensive income (loss) for the Company's interest rate swaps are included in interest expense and for the Company's share of non-consolidated entity's interest rate cap are reclassified to equity in earnings (losses) of non-consolidated entities within the unaudited condensed consolidated statements of operations.