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Interest Expense
 9 Months Ended
Sep. 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 September 30,For the Nine Months
Ended September 30,
2020201920202019
 (Dollars in thousands)
Interest incurred on debt$20,893 $30,222 $64,285 $93,731 
Accretion of original issue discount on 2018 Term Loans549 549 1,647 1,647 
Amortization of debt issuance costs1,032 1,032 3,094 3,094 
Total interest expense$22,474 $31,803 $69,026 $98,472 
Interest Rates
The 2018 Credit Agreement had an effective interest rate of 4.50% as of September 30, 2020 and 5.30% 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 U.S. London Interbank Offered Rate ("US LIBOR") for a portion of our outstanding debt. See Note 10 "Derivative Instruments" for details of these transactions.