Interest Rate Contracts (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Interest Rate Swaps

The following table sets forth a summary of the interest rate swaps at December 31, 2021 and 2020:

				Fair Value (1)				Current Notional Amounts
				December 31,				December 31,
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate	2021		2020		2021		2020
Assets/(Liabilities)
Interest Rate Swap	3/10/2020	7/1/2025	0.83%	$	1,648	$	(2,963)	$	150,000	$	150,000
Interest Rate Swap	3/10/2020	7/1/2025	0.84%	1,059		(2,023)		100,000		100,000
Interest Rate Swap	3/10/2020	7/1/2025	0.86%	749		(1,580)		75,000		75,000
Interest Rate Swap	7/1/2020	7/1/2025	2.82%	(7,342)		(13,896)		125,000		125,000
Interest Rate Swap	7/1/2020	7/1/2025	2.82%	(5,909)		(11,140)		100,000		100,000
Interest Rate Swap	7/1/2020	7/1/2025	2.83%	(5,899)		(11,148)		100,000		100,000
Interest Rate Swap	7/1/2020	7/1/2025	2.84%	(5,958)		(11,225)		100,000		100,000
Total				$	(21,652)	$	(53,975)	$	750,000	$	750,000

(1)The Company records all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly there are no offsetting amounts that net assets against liabilities. As of December 31, 2021, derivatives in a liability position are included in an asset or liability position are included in the line item "Other assets or Interest rate swap liability," respectively, in the consolidated balance sheets at fair value. The LIBO rate as of December 31, 2021 (effective date) was 0.10%.

Derivative Instruments, Gain (Loss)

The following table sets forth the impact of the interest rate swaps on the consolidated statements of operations for the periods presented:

	Year Ended December 31,
	2021		2020
Interest Rate Swap in Cash Flow Hedging Relationship:
Amount of (loss) gain recognized in AOCI on derivatives	$	(18,165)	$	(38,319)
Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense”	$	(14,284)	$	8,615
Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded	$	85,087	$	79,646