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Derivative Instrument and Hedging Activity | 9 Months Ended
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Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instrument and Hedging Activity | Derivative Instrument and Hedging Activity Kforce is exposed to interest rate risk as a result of our corporate borrowing activities. The Firm uses an interest rate swap derivative as a risk management tool to mitigate the potential impact of rising interest rates on our variable rate debt. On April 21, 2017, Kforce entered into a forward-starting interest rate swap agreement with Wells Fargo Bank, N.A. (the “Swap”). The Swap was effective on May 31, 2017 and matures on April 29, 2022. The Swap rate is 1.81%, which is added to our interest rate margin to determine the fixed rate that the Firm will pay to the counterparty during the term of the Swap based on the notional amount of the Swap. The notional amount of the Swap is $65.0 million for the first three years and decreases to $25.0 million for years four and five. The Swap has been designated as a cash flow hedge and was effective at September 30, 2019. The change in the fair value of the Swap is recorded as a component of other comprehensive income in the consolidated financial statements. The following table sets forth the activity in the accumulated derivative instrument gain (loss) for the nine months ended September 30, 2019 (in thousands):
Accumulated derivative instrument gain, beginning of period | $ | 900 |  |  |
Net change associated with current period hedging transactions | (1,165) |  |  |
Accumulated derivative instrument loss, end of period | $ | (265) |  |  |

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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