Year Ended December 31,

2022

2021

2020

(In thousands)

Interest expense before capitalized interest

$

87,246

$

68,485

$

70,561

Amortization of deferred financing costs

4,532

4,291

3,315

Interest expense related to finance lease right-of-use assets

2,091

2,261

1,450

Net (gain) loss on derivative financial instruments designated as ineffective hedges:

Net unrealized

(7,355)

(342)

184

Net realized

304

—

Capitalized interest

(10,888)

(6,734)

(13,189)

Interest expense

$

75,930

$

67,961

$

62,321