Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instrument Detail [Abstract]

Gross Fair Values of Derivative Instruments

The gross fair values of derivative instruments on our Condensed Consolidated Balance Sheets are as follows:

		Asset Derivatives					Liability Derivatives
(in thousands)	Location	June 30, 2022		December 31, 2021		Location	June 30, 2022		December 31, 2021
Derivatives designated in cash flow hedging relationships:
Interest rate contracts	Other assets, current1	$	6,739	$	2,191	Accounts payable and accrued liabilities1	$	—	$	—
Interest rate contracts	Other assets, non-current		93,570		31,306	Other long-term obligations		—		24,060
		$	100,309	$	33,497		$	—	$	24,060

1 Derivative instruments that mature within one year, as a whole, are classified as current.

Effect of Derivatives on Condensed Consolidated Statements of Operations

The following table details the effect of derivatives on our Condensed Consolidated Statements of Operations:

		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	Location	2022			2021			2022			2021
Derivatives designated in cash flow hedging relationships:
Interest rate contracts
Income (loss) recognized in other comprehensive income (loss), net of tax		$	41,118		$	(33,444	)	$	82,361		$	28,431
Amounts reclassified from accumulated other comprehensive income (loss), net of tax1	Interest expense	$	(1,411	)	$	(2,281	)	$	(3,444	)	$	(4,513	)
Interest expense, net		$	7,419		$	8,199		$	10,313		$	11,773

1 Realized gains and losses on interest rate contracts consist of net cash received or paid and interest accruals on the interest rate swaps during the periods. Net cash received or paid is included in the supplemental cash flow information within interest, net of amounts capitalized in the Condensed Consolidated Statements of Cash Flows.