XML 42 R32.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents our assets and liabilities measured at fair value on a recurring basis aggregated by the level within which measurements fall in the fair value hierarchy (in thousands):
Quoted Market Prices (Level 1)Significant Other
Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
March 31, 2022
Assets
Derivative assets:
Interest rate derivatives - caps$— $1,058 $— $1,058 
Total$— $1,058 $— $1,058 
(1)
Liabilities
Derivative liabilities:
Warrants— (1,870)$— $(1,870)
(2)
Net$— $(812)$— $(812)
Quoted Market Prices (Level 1)Significant Other
Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)		Total
December 31, 2021
Assets
Derivative assets:
Interest rate derivatives - caps$— $139 $— $139 
$— $139 $— $139 
(1)
Liabilities
Derivative liabilities:
Warrants— (1,435)— (1,435)
(2)
Net$— $(1,296)$— $(1,296)
__________________
(1)Reported as “derivative assets” in our condensed consolidated balance sheet.
(2)Reported as “derivative liabilities” in our condensed consolidated balance sheet.
Effect of Fair Value Measured Assets and Liabilities on Consolidated Statements of Operations
The following table summarizes the effect of fair value measured assets and liabilities on our condensed consolidated statements of operations (in thousands):
Gain (Loss) Recognized in Income
Three Months Ended March 31,
20222021
Assets
Derivative assets:
Interest rate derivatives - caps$843 $(20)
Total derivative assets$843 $(20)
Total$843 $(20)
Liabilities
Derivative liabilities:
Warrants$(435)$— 
Net$408 $(20)
Total combined
Interest rate derivatives - caps$843 $(20)
Warrants(435)— 
Unrealized gain (loss) on derivatives$408 $(20)
Net$408 $(20)