XML 47 R38.htm IDEA: XBRL DOCUMENT
v3.23.3

Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments | The following table presents information about the fair value amounts of our cash flow derivative instruments:
|  |  | Derivatives as of
|  |  | September 30, 2023 |  | December 31, 2022
| Balance Sheet Location |  | Fair Value |  | Fair Value
Derivatives Designated as Hedging Instruments: |  |  |  |  |
Interest rate swap contracts | Other assets |  | $ | 2,719 |  |  | $ | 1,748 |
Interest rate swap contracts | Other liabilities |  | $ | — |  |  | $ | 9 |
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |
Interest rate swap contracts | Other assets |  | $ | 4,834 |  |  | $ | 3,454 |
Make-whole provisions | Other liabilities |  | $ | 6,324 |  |  | $ | 5,348 |
Schedule of Derivative Effect on Consolidated Statements of Income (Loss) | 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 Income |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Derivatives Designated as Hedging Instruments: |  |  |  |  |  |  |  |
Interest rate swap contracts | Other expenses, net |  | $ | (546) |  |  | $ | 185 |  |  | $ | (757) |  |  | $ | 1,026 |
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |
Interest rate swap contracts | Other expenses, net |  | $ | (1,281) |  |  | $ | (844) |  |  | $ | (1,160) |  |  | $ | (2,865) |
Commodity swap contracts | Other expenses, net |  | $ | — |  |  | $ | 514 |  |  | — |  |  | 3,028 |
Make-whole provisions | Other expenses, net |  | $ | (1,764) |  |  | $ | (450) |  |  | (2,146) |  |  | (388) |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table presents the changes in Accumulated Other Comprehensive Loss (“AOCL”), net of taxes, from our hedging instruments:
| Nine Months Ended September 30, 2023 |  |
Derivatives Designated as Hedging Instruments: |  |  |
Accumulated gain in AOCL at the beginning of the period | $ | 1,284 |  |  |
Unrealized gain recognized in AOCL | 1,473 |  |  |
Gain reclassified from AOCL to other expenses, net | (757) |  |  |
Loss on derivatives | 716 |  |  |
Accumulated gain in AOCL at the end of the period | $ | 2,007 |  |  |
Schedule of Active Derivative Instruments | The following tables present all of our active derivative instruments as of September 30, 2023:
Active Interest Rate Swaps |  | Effective Date |  | Expiration Date |  | Initial Notional Amount ($) |  | Status
11-Year, 5.77% Fixed |  | October 2018 |  | October 2029 |  | $ | 9,200 |  |  | Designated
15-Year, 5.24% Fixed |  | June 2018 |  | June 2033 |  | $ | 10,000 |  |  | Designated
10-Year, 4.74% Fixed |  | June 2017 |  | December 2027 |  | $ | 14,100 |  |  | Designated
8-Year, 3.49% Fixed |  | March 2020 |  | June 2028 |  | $ | 14,643 |  |  | Designated
8-Year, 3.49% Fixed |  | March 2020 |  | June 2028 |  | $ | 10,734 |  |  | Designated
13-Year, 0.72% Fixed |  | May 2020 |  | March 2033 |  | $ | 9,505 |  |  | Not Designated
13-Year, 0.72% Fixed |  | May 2020 |  | March 2033 |  | $ | 6,968 |  |  | Not Designated
7.75-Year, 3.16% Fixed |  | March 2023 |  | December 2040 |  | $ | 14,084 |  |  | Designated
18-Year, 3.81% Fixed |  | July 2023 |  | July 2041 |  | $ | 32,021 |  |  | Not Designated
Other Derivatives |  | Classification |  | Effective Date |  | Expiration Date |  | Fair Value ($)
Make-whole provisions |  | Liability |  | June/August 2018 |  | December 2038 |  | $ | 467 |
Make-whole provisions |  | Liability |  | August 2016 |  | April 2031 |  | $ | 61 |
Make-whole provisions |  | Liability |  | April 2017 |  | February 2034 |  | $ | 45 |
Make-whole provisions |  | Liability |  | November 2020 |  | December 2027 |  | $ | 39 |
Make-whole provisions |  | Liability |  | October 2011 |  | May 2028 |  | $ | 14 |
Make-whole provisions |  | Liability |  | May 2021 |  | April 2045 |  | $ | 73 |
Make-whole provisions |  | Liability |  | July 2021 |  | March 2046 |  | $ | 2,219 |
Make-whole provisions |  | Liability |  | June 2022 |  | March 2042 |  | $ | 957 |
Make-whole provisions |  | Liability |  | March 2023 |  | December 2047 |  | $ | 2,449 |

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 gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration