XML 26 R16.htm IDEA: XBRL DOCUMENT
v3.20.2

Derivatives and hedging activities | 9 Months Ended
--- | ---
Sep. 30, 2020
Derivatives and hedging activities |
Derivatives and hedging activities | 9. Derivatives and hedging activities ​ Risk Management Objective of Using Derivatives ​ The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts principally related to the Company’s assets. ​ Cash Flow Hedges of Interest Rate Risk ​ The Company’s objectives in using interest rate derivatives are to add stability to interest income/expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and floors as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate floors designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates fall below the strike rate on the contract in exchange for an up-front premium. During 2020, such derivatives were used to hedge the variable cash flows associated with existing variable-rate assets and issuances of debt. ​ The Company executed an interest rate swap to reduce its exposure to variability in the interest rate associated with floating-rate borrowings. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in Accumulated Other Comprehensive Income and subsequently reclassified into interest expense/income in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense/income as interest payments are made/received on the Company’s variable-rate debt/assets. During 2020, the Company estimates that an additional $134 will be reclassified as an increase to interest expense and an additional $531 will be reclassified as an increase to interest income. ​ Non-designated Hedges Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of September 30, 2020, the Company had 64 interest rate swaps with an aggregate notional amount of $355,594 related to this program. Fair Values of Derivative Instruments on the Balance Sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of September 30 2020 and December 31, 2019. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Asset Derivatives | ​ | Asset Derivatives | ​ | Liability Derivatives | ​ | Liability Derivatives
​ | ​ | ​ | ​ | As of September 30, 2020 | ​ | As of December 31, 2019 (1) | ​ | As of September 30, 2020 | ​ | As of December 31, 2019 (2)
​ |  | Notional |  | Balance Sheet |  | ​ | ​ |  | Balance Sheet |  | ​ | ​ |  | Balance Sheet |  | ​ | ​ |  | Balance Sheet |  | ​ | ​
​ | ​ | Amount | ​ | Location | ​ | Fair Value | ​ | Location | ​ | Fair Value | ​ | Location | ​ | Fair Value | ​ | Location | ​ | Fair Value
Derivatives designated as hedging instruments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest Rate Floor | $ | 25,000 | ​ | Other Assets | ​ | $ | 1,845 | ​ | Other Assets | ​ | $ | 944 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flow Swap | $ | 50,000 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other Liabilities | ​ | ​ | 592 | ​ | ​ | ​ | ​ | ​
Total derivatives designated as hedging instruments | ​ | ​ | ​ | ​ | ​ | $ | 1,845 | ​ | ​ | ​ | $ | 944 | ​ | ​ | ​ | ​ | 592 | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated as hedging instruments |  | ​ | ​ |  |  | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |  |  |  | ​ |
Interest Rate Swaps (3) | $ | 355,594 | ​ | Other Assets |  | $ | 16,346 |  | Other Assets |  | $ | 4,728 |  | Other Liabilities |  | $ | 16,343 |  | Other Liabilities | ​ | $ | 4,680
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total derivatives not designated as hedging instruments |  | ​ | ​ |  | ​ | $ | 16,346 |  |  | ​ | $ | 4,728 |  |  | ​ | $ | 16,343 |  |  | ​ | $ | 4,680
(1) | Assets amount does not include accrued interest receivable of $211.
(2) | Liabilities amount does not include accrued interest payable of $211.
(3) | Notional amount of interest rate swaps at September 30, 2019 $126,574.
​ Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) ​ The table below presents the effect of fair value and cash flow hedge accounting on accumulated other comprehensive income (loss) as of September 30, 2020 and September 30, 2019. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Location of | ​ | ​ | ​ | ​ | ​ | Amount of | ​ | ​ | Amount of
​ | ​ | Amount of | ​ | ​ | Amount of | ​ | ​ | Amount of | ​ | Gain or (Loss) | ​ | ​ | Amount of | ​ | ​ | Gain (Loss) | ​ | ​ | Gain (Loss)
​ | ​ | Gain (Loss) | ​ | ​ | Gain (Loss) | ​ | ​ | Loss | ​ | Recognized from | ​ | ​ | Gain (Loss) | ​ | ​ | Reclassified | ​ | ​ | Reclassified
​ | ​ | Recognized in | ​ | ​ | Recognized in | ​ | ​ | Recognized in | ​ | Accumulated | ​ | ​ | Reclassified | ​ | ​ | from Accumulated | ​ | ​ | from Accumulated
Derivatives in | ​ | OCI on | ​ | ​ | OCI Included | ​ | ​ | OCI Excluded | ​ | Other Comprehensive | ​ | ​ | from Accumulated | ​ | ​ | OCI into Income | ​ | ​ | OCI into Income
Hedging |  | Derivative | ​ |  | Component | ​ |  | Component |  | Income into | ​ |  | OCI into Income | ​ |  | Included Component | ​ |  | Excluded Component
Relationships | ​ | ​ | ​ | ​ | September 30, 2020 | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​ | ​ | ​ | September 30, 2020 | ​ | ​ | ​
Derivatives in Cash Flow Hedging Relationships | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flow Swap | $ | 2 | ​ | $ | 2 | ​ | $ | ​ | ​ | Interest Expense | ​ | $ | (20) | ​ | $ | (20) | ​ | $ | ​
Interest Rate Floor (*) | $ | (25) | ​ | $ | (5) | ​ | $ | (20) | ​ | Interest Income | ​ | $ | 133 | ​ | $ | 149 | ​ | $ | (16)
Total | $ | (23) | ​ | $ | (3) | ​ | $ | (20) | ​ | ​ | ​ | $ | 113 | ​ | $ | 129 | ​ | $ | (16)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Location of | ​ | ​ | ​ | ​ | ​ | Amount of | ​ | ​ | Amount of
​ | ​ | Amount of | ​ | ​ | Amount of | ​ | ​ | Amount of | ​ | Gain or (Loss) | ​ | ​ | Amount of | ​ | ​ | Gain | ​ | ​ | Loss
​ | ​ | Gain | ​ | ​ | Gain | ​ | ​ | Gain | ​ | Recognized from | ​ | ​ | Loss | ​ | ​ | Reclassified | ​ | ​ | Reclassified
​ | ​ | Recognized in | ​ | ​ | Recognized in | ​ | ​ | Recognized in | ​ | Accumulated | ​ | ​ | Reclassified | ​ | ​ | from Accumulated | ​ | ​ | from Accumulated
Derivatives in | ​ | OCI on | ​ | ​ | OCI Included | ​ | ​ | OCI Excluded | ​ | Other Comprehensive | ​ | ​ | from Accumulated | ​ | ​ | OCI into Income | ​ | ​ | OCI into Income
Hedging |  | Derivative | ​ |  | Component | ​ |  | Component |  | Income into | ​ |  | OCI into Income | ​ |  | Included Component | ​ |  | Excluded Component
Relationships | ​ | ​ | ​ | ​ | September 30, 2019 | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​ | ​ | ​ | September 30, 2019 | ​ | ​ | ​
Derivatives in Cash Flow Hedging Relationships | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest Rate Floor (*) | $ | 138 | ​ | $ | 186 | ​ | $ | (48) | ​ | Interest Income | ​ | $ | (16) | ​ | $ | ​ | ​ | $ | (16)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
* | Amounts disclosed are gross and not net of taxes.
​ Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income ​ The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the nine months ended September 30, 2020 and September 30, 2019. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Location and Amount of Gain or (Loss) Recognized in
​ | ​ | ​ | Income on Fair Value and Cash Flow Hedging
​ | ​ | ​ | Relationships
​ | ​ | ​ | 2020 | ​ | ​ | 2020 | ​ | ​ | 2019 | ​ | 2019
​ |  |  | Interest Income |  |  | Interest Expense |  |  | Interest Income |  | Interest Expense
Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded | ​ | $ | 133 | ​ | $ | (20) | ​ | $ | (48) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
The effects of fair value and cash flow hedging: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gain or (loss) on cash flow hedging relationships | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest contracts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | ​ | $ | 133 | ​ | $ | (20) | ​ | $ | (48) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component | ​ | $ | 149 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component | ​ | $ | (16) | ​ | ​ | ​ | ​ | $ | (48) | ​ | ​
​ Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2020 and 2019. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Amount of Gain | ​ | Amount of Loss |  | Amount of Gain | ​ | Amount of Gain
​ | ​ | ​ | ​ | Recognized in | ​ | Recognized in |  | Recognized in | ​ | Recognized in
​ | ​ | Location of Gain or (Loss) | ​ | Income | ​ | Income |  | Income | ​ | Income
​ | ​ | Recognized in Income on | ​ | Three Months Ended | ​ | Nine Months Ended |  | Three Months Ended | ​ | Nine Months Ended
Derivatives Not Designated as Hedging Instruments |  | Derivative |  | September 30, 2020 |  | September 30, 2020 |  | September 30, 2019 |  | September 30, 2019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest Rate Swaps |  | Other noninterest income | ​ | $ | 97 | ​ | $ | (44) | ​ | $ | 355 | ​ | $ | 9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fee Income | ​ | Other income | ​ | $ | 1,131 | ​ | $ | 1,991 | ​ | $ | ​ | ​ | $ | 1,136
​ Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2020 and December 31, 2019. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Consolidated Balance Sheets. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Offsetting of Derivative Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as of September 30, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross Amounts Not Offset in the Balance Sheet | ​ | ​ | ​
​ | ​ | Gross | ​ | ​ | ​ | Net Amounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amounts of | ​ | Gross Amounts | ​ | of Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Recognized | ​ | Offset in the | ​ | presented in the | ​ | Financial | ​ | Cash Collateral | ​ | Net
​ |  | Assets |  | Balance Sheet |  | Balance Sheet |  | Instruments |  | Received |  | Amount
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives | ​ | $ | 18,191 | ​ | $ | ​ | ​ | $ | 18,191 | ​ | $ | ​ | ​ | ​ | ​ | ​ | $ | 18,191
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Offsetting of Derivative Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as of September 30, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross Amounts Not Offset in the Balance Sheet | ​ | ​ | ​
​ | ​ | Gross | ​ | ​ | ​ | Net Amounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amounts of | ​ | Gross Amounts | ​ | of Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Recognized | ​ | Offset in the | ​ | presented in the | ​ | Financial | ​ | Cash Collateral | ​ | Net
​ | ​ | Assets | ​ | Balance Sheet | ​ | Balance Sheet | ​ | Instruments | ​ | Received | ​ | Amount
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives | ​ | $ | 16,935 | ​ | $ | ​ | ​ | $ | 16,935 | ​ | $ | ​ | ​ | ​ | ​ | ​ | $ | 16,935
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Offsetting of Derivative Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as of December 31, 2019 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross Amounts Not Offset in the Balance Sheet | ​ | ​ | ​
​ | ​ | Gross | ​ | ​ | ​ | Net Amounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amounts of | ​ | Gross Amounts | ​ | of Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Recognized | ​ | Offset in the | ​ | presented in the | ​ | Financial | ​ | Cash Collateral | ​ | Net
​ | ​ | Assets | ​ | Balance Sheet | ​ | Balance Sheet | ​ | Instruments | ​ | Received | ​ | Amount
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives | ​ | $ | 5,672 | ​ | $ | ​ | ​ | $ | 5,672 | ​ | $ | ​ | ​ | ​ | ​ | ​ | $ | 5,672
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Offsetting of Derivative Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
as of December 31, 2019 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross Amounts Not Offset in the Balance Sheet | ​ | ​ | ​
​ | ​ | Gross | ​ | ​ | ​ | Net Amounts | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amounts of | ​ | Gross Amounts | ​ | of Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Recognized | ​ | Offset in the | ​ | presented in the | ​ | Financial | ​ | Cash Collateral | ​ | Net
​ | ​ | Assets | ​ | Balance Sheet | ​ | Balance Sheet | ​ | Instruments | ​ | Received | ​ | Amount
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives | ​ | $ | 4,680 | ​ | $ | ​ | ​ | $ | 4,680 | ​ | $ | ​ | ​ | ​ | ​ | ​ | $ | 4,680
​ Credit-risk-related Contingent Features The Company has agreements with certain of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain of its derivative counterparties that contain a provision where if the Company fails to maintain its status as a well capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements. As of September 30, 2020, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $4. As of December 31, 2019, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $48. The Company has minimum collateral posting thresholds with certain of its derivative counterparties, and has posted collateral of $16,450 against its obligations under these agreements as of September 30, 2020, compared to having posted collateral of $4,140 with counterparties at December 31, 2019. If the Company had breached any of these provisions it could have been required to settle its obligations under the agreements at the termination value.

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 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
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration