Financial Instruments: Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2021

Financial Instruments: Derivatives and Hedging

Schedule of notional and fair value of derivative financial instruments

	Notional		Strike		Effective	Expiration	Fair Value (2) at
(in thousands)	Value		Rate		Date	Date	June 30, 2021		December 31, 2020
2017 Interest Rate Swap	$	400,000	1.12	%	Sep-17	Sep-21	$	(992)	$	(2,947)
2019 JPM Interest Rate Swap	$	100,000	2.44	%	Mar-19	Nov-21	$	—	$	(2,102)
2019 BMO Interest Rate Swap (1)	$	165,000	2.39	%	Aug-20	Jan-24	$	(8,433)	$	(12,262)
(1) The Notional Value decreased to $165 million on June 4, 2021.
(2) Classified within Level 2 of the fair value hierarchy.

Summary of Interest Rate Swaps that was recorded in OCI

(in thousands)	Six Months Ended June 30,
Interest Rate Swaps in Cash Flow Hedging Relationships:	2021		2020
Amounts of gain (loss) recognized in OCI	$	2,542	$	(20,439)
Amounts of previously recorded gain/(loss) reclassified from OCI into Interest Expense	$	(5,344)	$	(2,163)
Total amount of Interest Expense presented in the consolidated statements of operations	$	18,654	$	18,043