Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of outstanding interest rate derivatives

As of June 30, 2020, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (dollars in thousands):

Interest Rate Derivative	Current Notional Amount		Fixed Rate		Maturity
Interest rate swap	$	1,104	5.25	%	April 1, 2022

Schedule of fair value of derivative financial instruments and classification on consolidated balance sheets

The table below presents the fair value of the Company’s derivative financial instruments as well as its classification on the consolidated balance sheets as of the dates indicated (dollars in thousands):

Derivatives as of:
June 30, 2020			December 31, 2019
Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Other Assets	$	—	Other Assets	$	—
Accounts payable and accrued liabilities	$	34	Accounts payable and accrued liabilities	$	12

Schedule of effect of derivative financial instrument on consolidated statements of comprehensive (loss) income

The following table presents the effect of the Company’s interest rate swaps on the consolidated statements of comprehensive income (loss) for the dates indicated (dollars in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Amount of (loss) gain recognized on derivative in Other Comprehensive Income	$	(2)	$	(14)	$	(27)	$	(22)
Amount of (loss) gain reclassified from Accumulated Other Comprehensive Income into Interest expense	$	(3)	$	1	$	(5)	$	2
Total amount of Interest expense presented in the Consolidated Statements of Operations	$	1,809	$	2,049	$	3,669	$	3,995