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Hedge Accounting | 6 Months Ended
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Jun. 30, 2023
Hedge Accounting [Abstract] |
Hedge Accounting | Note 18 – Hedge Accounting As of June 30, 2023, our Company held interest rate derivatives in the total nominal amount of $8.0 million. As of December 31, 2022, our Company held interest rate derivatives in the total notional amount of $51.0 million. The derivatives are recorded on the balance sheet at fair value and are included in the following line items:
|  | Asset Derivatives
|  | June 30, |  | December 31,
|  | 2023 |  | 2022
(Dollars in thousands) |  | Balance sheet location |  | Fair value |  | Balance sheet location |  | Fair value
Interest rate contracts |  | Derivative financial instruments - current portion |  | $ | 64 |  | Derivative financial instruments - current portion |  | $ | 907
|  | Derivative financial instruments - non-current portion |  |  | — |  | Derivative financial instruments - non-current portion |  |  | —
Total derivatives designated as hedging instruments |  |  |  | $ | 64 |  |  |  | $ | 907
Total derivatives |  |  |  | $ | 64 |  |  |  | $ | 907
The changes in fair value are recorded in Other Comprehensive Income and released into interest expense in the same period(s) in which the hedged transactions affect earnings. In the quarter and six months ended June 30, 2023 and June 30, 2022, respectively, the derivative instruments affected Comprehensive Income as follows:
(Dollars in thousands) | Location of Loss Recognized in Income on Derivatives |  | Amount of Loss (Gain) Recognized in Income on Derivatives
|  |  | Quarter Ended June 30 |  | Six Months Ended June 30
|  |  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022
Interest rate contracts | Interest expense |  | $ | (19) |  | $ | (19) |  | $ | (786) |  | $ | 49
Total |  |  | $ | (19) |  | $ | (19) |  | $ | (786) |  | $ | 49
|  | Loss (Gain) Recognized in OCI on Derivatives (Effective Portion)
(Dollars in thousands) |  | Amount |  | Amount
|  | Quarter Ended June 30 |  | Six Months Ended June 30
|  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022
Interest rate contracts |  | $ | (16) |  | $ | (414) |  | $ | 2 |  | $ | (1,145)
Total |  | $ | (16) |  | $ | (414) |  | $ | 2 |  | $ | (1,145)
|  | Loss (Gain) Reclassified from OCI into Income (Effective Portion)
Line Item |  | Amount |  | Amount
|  | Quarter Ended June 30 |  | Six Months Ended June 30
|  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022
Interest expense |  | $ | (220) |  | $ | (19) |  | $ | (785) |  | $ | 49
Total |  | $ | (220) |  | $ | (19) |  | $ | (785) |  | $ | 49
The derivatives have no ineffective portion, and consequently no losses have been recognized directly in income.

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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 https://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126731327&loc=d3e90205-114008 + Details
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