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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | The following table summarizes the Company’s derivative instruments as of September 30, 2021 and December 31, 2020:
|  |  |  |  |  |  |  |  |  | Interest Rate Range(1) |  | Fair Value (Liabilities) Assets
Underlying Debt Instrument |  | Number of Derivatives |  | Notional Amount |  | Effective Date |  | Maturity Date |  | Low |  | High |  | September 30, 2021 |  | December 31, 2020
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hollywood Media Portfolio(2) |  | 2 |  | $ | 350,000 |  |  | April 2015 |  | April 2022 |  | 2.96% |  | 3.46% |  | $ | (2,922) |  |  | $ | (7,112) |
Hollywood Media Portfolio(2) |  | 1 |  | 125,000 |  |  | June 2016 |  | November 2022 |  | 2.63% |  | 3.13% |  | (1,827) |  |  | (2,994) |
Interest rate cap |  |  |  |  |  |  |  |  |  | Strike rate |  |  |  |
Hollywood Media Portfolio(3) |  | 1 |  | $ | 900,000 |  |  | July 2020 |  | Terminated August 2021 |  | 3.50% |  | $ | — |  |  | $ | 5 |
Hollywood Media Portfolio(3) |  | 1 |  | 1,100,000 |  |  | August 2021 |  | August 2023 |  | 3.50% |  | $ | 112 |  |  | — |
TOTAL |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (4,637) |  |  | $ | (10,101) |
_____________ 1.The rate is based on the fixed rate from the swap and the spread based on the operating partnership’s leverage ratio. 2.The swaps were designated under the first payments approach within hedge accounting, where the Company elected to designate a cash flow (LIBOR-based interest payments) instead of a specific piece of debt. 3.The Hollywood Media Portfolio debt was refinanced during the nine months ended September 30, 2021 with the loan amount being increased to $1.1 billion. Concurrently with the refinance, the interest rate cap associated with the original $900.0 million loan was early-terminated and replaced with an interest rate cap with a notional amount of $1.1 billion and a maturity in August 2023.

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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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