Financial Instruments: Derivatives and Hedging (Tables)

3 Months Ended

Mar. 31, 2020

Financial Instruments: Derivatives and Hedging

Schedule of notional and fair value of derivative financial instruments

	Notional		Strike		Effective	Expiration	Fair
(in thousands)	Value		Rate		Date	Date	Value
2017 Interest Rate Swap	$	400,000	1.12	%	Sep-17	Sep-21	$	(4,902)
2013 BMO Interest Rate Swap	$	220,000	2.32	%	Aug-13	Aug-20	$	(1,616)
2019 JPM Interest Rate Swap	$	100,000	2.44	%	Mar-19	Nov-21	$	(3,529)
2019 BMO Interest Rate Swap (1)	$	220,000	2.39	%	Aug-20	Jan-24	$	(12,988)
(1) The Notional Value will decrease to $165 million on November 30, 2021.

Summary of Interest Rate Swaps that was recorded in OCI

(in thousands)	Three Months Ended March 31,
Interest Rate Swaps in Cash Flow Hedging Relationships:	2020		2019
Amounts of loss recognized in OCI	$	(18,389)	$	(5,316)
Amounts of previously recorded gain/(loss) reclassified from OCI into Interest Expense	$	(36)	$	1,475
Total amount of Interest Expense presented in the consolidated statements of operations	$	9,063	$	9,368