Financial Instruments: Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2020

Financial Instruments: Derivatives and Hedging

Schedule of notional and fair value of derivative financial instruments

	Notional		Strike		Effective	Expiration	Fair Value (2) at December 31,
(in thousands)	Value		Rate		Date	Date	2020		2019
2017 Interest Rate Swap	$	400,000	1.12	%	Sep-17	Sep-21	$	(2,947)	$	3,022
2019 JPM Interest Rate Swap	$	100,000	2.44	%	Mar-19	Nov-21	$	(2,102)	$	(1,634)
2019 BMO Interest Rate Swap (1)	$	220,000	2.39	%	Aug-20	Jan-24	$	(12,262)	$	(5,107)
2013 BMO Interest Rate Swap	$	220,000	2.32	%	Aug-13	Aug-20	$	—	$	(963)
(1) The Notional Value will decrease to $165 million on November 30, 2021.
(2) Classified within Level 2 of the fair value hierarchy.

Summary of Interest Rate Swaps that was recorded in OCI

(in thousands)	Year Ended December 31,
Interest Rate Swaps in Cash Flow Hedging Relationships:	2020		2019		2018
Amounts of gain (loss) recognized in OCI	$	(20,380)	$	(15,119)	$	5,321
Amounts of previously recorded gain/(loss) reclassified from OCI into Interest Expense	$	(7,751)	$	4,328	$	2,722
Total amount of Interest Expense presented in the consolidated statements of operations	$	36,026	$	36,757	$	38,374