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Interest Expense

6 Months Ended

Jun. 30, 2020

Interest and Debt Expense [Abstract]

Interest Expense

Interest Expense

The following tables present the components of interest expense: 

			For the Three Months Ended June 30,																		For the Six Months Ended June 30,
			2020						2019						2020						2019
			(Dollars in thousands)
Interest incurred on debt			$	19,300					$	31,389					$	43,392					$	63,509
Accretion of fair value adjustment on Senior Notes			549						549						1,098						1,098
Amortization of debt issuance costs			1,031						1,031						2,062						2,062
Total interest expense			$	20,880					$	32,969					$	46,552					$	66,669

Interest Rates

The 2018 Credit Agreement had an effective interest rate of 4.50% as of June 30, 2020 and 5.90% as of December 31, 2019. During the third quarter of 2019, the Company entered into four interest rate swap contracts to fix our cash flows associated with the risk in variability in the one-month US London Interbank Offered Rate ("US LIBOR") for a portion of our outstanding debt. See Note 10 "Derivative Instruments" for details of these transactions.

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- References

No definition available.

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- Definition

The entire disclosure for interest income and interest expense for enterprises that derive a significant portion of their revenue from interest collected on investments, loans, and securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.1-12)
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

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