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Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments by Balance Sheet Classification and Location

The following table presents the fair value of the Company’s derivative financial instruments on a gross basis, as well as its classification on the Company’s consolidated balance sheets as of September 30, 2023:

September 30, 2023

(in thousands)

Fair Value (1)

Derivatives designated as hedging instruments:

Balance Sheet Location

Notional Amount

Derivative Assets

Derivative Liabilities

Cash flow hedges:

Forward starting payer interest rate swaps

Derivative assets

$

155,000

$

1,261

$

—

(1)Fair value reported is exclusive of collateral held and pledged. As of September 30, 2023, collateral held related to derivative exposure between the Company and its derivative counterparty was $0.8 million and is recorded in accounts payable and accrued expenses.

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- References

No definition available.

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- 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

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