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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022 and December 31, 2021:
Underlying Debt InstrumentNumber of DerivativesNotional AmountEffective DateMaturity Date
Interest Rate Range(1)
Fair Value
Assets/(Liabilities)
LowHigh20222021
Interest rate swaps
Hollywood Media Portfolio(2)(3)
2$350,000 April 2015April 20222.96 %3.46 %$— $(1,413)
Hollywood Media Portfolio(2)(3)
1125,000 June 2016November 20222.63 %3.13 %— (1,122)
Interest rate capStrike Rate
Hollywood Media Portfolio(4)
11,100,000 August 2021August 20233.50%9,292 368 
TOTAL$9,292 $(2,167)
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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.These derivatives were designated as effective cash flow hedges for accounting purposes.
4.The interest rate cap was designated as an effective cash flow hedge for accounting purposes beginning in December 2022.