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Fair Value Measurements and Interest Rate Swaps (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value of Certain Financial Assets and Liabilities and Other Financial Instruments

The fair value of certain financial assets and liabilities and other financial instruments as of September 30, 2021 and December 31, 2020, in thousands, is as follows:

			September 30, 2021												December 31, 2020
			Carrying Amount (1)						Fair Value						Carrying Amount (1)						Fair Value
Debt			$	982,788					$	986,850					$	1,048,699					$	1,078,900

_______________

(1)The carrying amount of debt is net of unamortized debt issuance costs.

Schedule of Interest Rate Derivatives

The Company's interest rate derivatives, which are not designated or accounted for as cash flow hedges, consisted of the following as of September 30, 2021 and December 31, 2020, in thousands:

																																										Fair Value of Assets (Liabilities)
Hedged Debt						Type						Rate Fixed						Index						Effective Date						Maturity Date						Notional Amount						September 30, 2021						December 31, 2020
$50 million term loan						Swap						2.41		%				1-Month LIBOR						January 7, 2019						October 18, 2023						$	50,000					$	(2,219)					$	(3,231)
$350 million term loan						Swap						1.70		%				1-Month LIBOR						July 25, 2019						July 25, 2024						$	175,000					(5,910)						(9,386)
																																										$	(8,129)					$	(12,617)

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: 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

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