DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

DERIVATIVE INSTRUMENTS

Schedule of interest cap agreements

Interest Rate Cap Detail						Notional Amount Outstanding
						September 30,
Trade date	Cap Rate		Start Date	End Date		2023
March 25, 2021	0.75	%	April 29, 2021	March 28, 2024	$	50,000
July 29, 2020	0.64	%	July 31, 2020	December 29, 2023		100,000
					$	150,000

Schedule of the effect of fair value and cash flow hedge accounting on the statement of operations

The Effect of Fair Value and Cash Flow Hedge Accounting on the Statements of Operations
	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
	Interest Expense		Interest Expense		Interest Expense		Interest Expense
Total amounts of income and expense line items presented in the statements of operations in which the effects of fair value or cash flow hedges are recorded	$	1,999	$	2,276	$	6,158	$	6,923
The effects of fair value and cash flow hedging
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20:
Interest contracts:
Amount of gain or (loss) reclassified from AOCI to income	$	(1,770)	$	(626)	$	(5,111)	$	(676)
Premium excluded and recognized on an amortized basis		35		41		109		139
Amount of gain or (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring		—		—		—		—

Schedule of interest rate cap assets

			September 30,		December 31,
	Balance Sheet Location		2023		2022
Derivatives designated as hedging instruments
Interest rate caps	Fair value of derivative instruments - current	$	2,250	$	6,112
Interest rate caps	Fair value of derivative instruments - noncurrent	$	—	$	381
Derivatives not designated as hedging instruments
Interest rate caps	Fair value of derivative instruments - current	$	119	$	200
Interest rate caps	Fair value of derivative instruments - noncurrent	$	—	$	42

Components of AOCI

AOCI — January 1, 2023	$	6,480
Amount recognized in OCI on derivative, intrinsic		(4,502)
Amount recognized in OCI on derivative, excluded		279
Amount reclassified from OCI into income		—
AOCI — September 30, 2023	$	2,257