XML 67 R47.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Derivatives (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The fair market value of derivatives is presented on a gross basis on the Consolidated Balance Sheets. The following table summarizes the Company’s derivative instruments as of December 31, 2021 and December 31, 2020:
Underlying Debt Instrument |  | Number of Derivatives |  | Notional Amount |  | Effective Date |  | Maturity Date |  | Interest Rate Range(1) |  | Fair Value (Liabilities)/Assets
|  |  |  |  | Low |  | High |  | 2021 |  | 2020
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hollywood Media Portfolio(2) |  | 2 |  | 350,000 |  |  | April 2015 |  | April 2022 |  | 2.96 | % |  | 3.46 | % |  | (1,413) |  |  | (7,112) |
Hollywood Media Portfolio(2) |  | 1 |  | 125,000 |  |  | June 2016 |  | November 2022 |  | 2.63 | % |  | 3.13 | % |  | (1,122) |  |  | (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% |  | $ | 368 |  |  | $ | — |
TOTAL |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (2,167) |  |  | $ | (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 year ended December 31, 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.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 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 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration