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Derivative Instruments and Hedging Activities
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIESDuring the six months ended June 30, 2023, we adopted ASU 2020-04, Reference Rate Reform, for six interest rate swap contracts with the transition from LIBOR to SOFR as the reference rate. In March 2023, we dedesignated one interest rate swap contract for a previous loan facility and entered into a new interest rate swap contract to hedge $14,084 of the extended loan facility. The new interest rate swap was designated as a cash flow hedge. In June 2023, we prepaid one loan facility and terminated the related swap prior to its maturity date.
The following table presents information about the fair value amounts of our cash flow derivative instruments:  
 Derivatives as of
 June 30, 2023 December 31, 2022
 Balance Sheet LocationFair ValueFair Value
Derivatives Designated as Hedging Instruments:
Interest rate swap contractsOther assets$1,676 $1,748 
Interest rate swap contractsOther liabilities$— $9 
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contractsOther assets$3,328 $3,454 
Make-whole provisionsOther liabilities$8,096 $5,348 
As of June 30, 2023 and December 31, 2022, all but two of our freestanding derivatives were designated as hedging instruments.
The following table presents information about the effects of our derivative instruments on our condensed consolidated statements of income and condensed consolidated statements of comprehensive income:
Amount of Loss (Gain) Recognized in Net Income
Location of Loss (Gain) Recognized in Net IncomeThree Months Ended June 30,Six Months Ended June 30,
2023202220232022
Derivatives Designated as Hedging Instruments:
Interest rate swap contractsOther expenses, net$(222)$360 $(211)$841 
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contractsOther expenses, net$(338)$(759)$182 $(2,021)
Commodity swap contractsOther expenses, net$— $(92)— 2,514 
Make-whole provisionsOther expenses, net$(86)$(216)(443)62 
The following table presents the changes in Accumulated Other Comprehensive Loss (“AOCL”), net of taxes, from our hedging instruments:
Six Months Ended June 30, 2023
Derivatives Designated as Hedging Instruments:
Accumulated gain in AOCL at the beginning of the period$1,284 
Unrealized loss recognized in AOCL163 
Loss reclassified from AOCL to other expenses, net(211)
Loss on derivatives(48)
Accumulated gain in AOCL at the end of the period$1,236 
The following tables present all of our active derivative instruments as of June 30, 2023:
Active Interest Rate SwapsEffective DateExpiration DateInitial Notional
Amount ($)		Status
11-Year, 5.77% Fixed
October 2018October 2029$9,200 Designated
15-Year, 5.24% Fixed
June 2018June 2033$10,000 Designated
10-Year, 4.74% Fixed
June 2017December 2027$14,100 Designated
8-Year, 3.49% Fixed
March 2020June 2028$14,643 Designated
8-Year, 3.49% Fixed
March 2020June 2028$10,734 Designated
13-Year, 0.72% Fixed
May 2020March 2033$9,505 Not Designated
13-Year, 0.72% Fixed
May 2020March 2033$6,968 Not Designated
7.75-Year, 3.16% Fixed
March 2023December 2040$14,084 Designated
Other DerivativesClassificationEffective DateExpiration DateFair Value ($)
Make-whole provisionsLiabilityJune/August 2018December 2038$566 
Make-whole provisionsLiabilityAugust 2016April 2031$76 
Make-whole provisionsLiabilityApril 2017February 2034$59 
Make-whole provisionsLiabilityNovember 2020December 2027$51 
Make-whole provisionsLiabilityOctober 2011May 2028$16 
Make-whole provisionsLiabilityMay 2021April 2045$144 
Make-whole provisionsLiabilityJuly 2021March 2046$2,963 
Make-whole provisionsLiabilityJune 2022March 2042$1,157 
Make-whole provisionsLiabilityMarch 2023December 2047$3,064