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Interest Rate Contracts (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Swaps
The following table sets forth a summary of the Interest Rate Swaps at June 30, 2024 and December 31, 2023:
Fair Value (1)
Current Notional Amounts
Derivative InstrumentEffective DateMaturity DateInterest Strike RateJune 30, 2024December 31, 2023June 30, 2024December 31, 2023
Assets
Interest Rate Swap3/10/20207/1/20250.83%$6,220 $7,891 $150,000 $150,000 
Interest Rate Swap3/10/20207/1/20250.84%4,137 5,250 100,000 100,000 
Interest Rate Swap3/10/20207/1/20250.86%3,089 3,915 75,000 75,000 
Interest Rate Swap7/1/20207/1/20252.82%2,736 2,924 125,000 125,000 
Interest Rate Swap7/1/20207/1/20252.82%2,184 2,331 100,000 100,000 
Interest Rate Swap7/1/20207/1/20252.83%2,181 2,327 100,000 100,000 
Interest Rate Swap7/1/20207/1/20252.84%2,163 2,304 100,000 100,000 
Total$22,710 $26,942 $750,000 $750,000 
(1)The Company records all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly there are no offsetting amounts that net assets against liabilities. As of June 30, 2024, derivatives in an asset or liability position are included in the line item “Other assets” or “Interest rate swap liability”, respectively, in the consolidated balance sheets at fair value.
Schedule of Derivative Instruments, Gain (Loss)
The following table sets forth the impact of the Interest Rate Swaps on the consolidated statements of operations for the periods presented:
Six Months Ended June 30,
20242023
Interest Rate Swaps in Cash Flow Hedging Relationship:
Amount of gain (loss) recognized in AOCI on derivatives$(8,954)$(10,238)
Amount reclassified from AOCI into earnings under “Interest expense”$13,123 $10,531 
Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded$31,994 $33,082