Derivative financial instruments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Comprehensive Loss and Condensed Consolidated Statements of Operations Operations

The following tables present the effect of our interest rate swaps, net of tax, in the Condensed Consolidated Statements of Comprehensive Loss and Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2020 and 2019 ($ in thousands):

	2020		2019
AOCI from our cash flow hedges as of January 1	$	20,164	$	—
Change in fair value	16,956		5,834
Reclassification from AOCI to interest expense	(1,908)		24
OCI related to our cash flow hedges for the three months ended March 31	15,048		5,858
Change in fair value	—		14,648
Reclassification from AOCI to interest expense	(2,926)		136
OCI related to our cash flow hedges for the three months ended June 30	(2,926)		14,784
Change in fair value	—		4,912
Reclassification from AOCI to interest expense (1)	(2,958)		(324)
OCI related to our cash flow hedges for the three months ended September 30	(2,958)		4,588
AOCI from our cash flow hedges as of September 30	$	29,328	$	25,230

________

(1) As of September 30, 2020, the total amount expected to be reclassified from AOCI to interest expense during the next twelve months is $11.7 million.

Derivative Liabilities for Ineffective Hedges	Financial Statement Classification	Three Months Ended September 30,				Nine Months Ended September 30,
		2020		2019		2020		2019
Interest rate swaps (1)	Interest expense	$	3,803	$	—	$	22,306	$	2,715

________

(1) Includes the change in fair value of our interest rate swaps and the cash interest paid for the monthly settlements of the derivative.

Schedule of Location and Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheet

The following tables present the effect of our interest rate swaps in the Condensed Consolidated Balance Sheet as of September 30, 2020 and December 31, 2019 ($ in thousands):

Derivative Liabilities for Effective Hedges	Financial Statement Classification	As of September 30,		As of December 31,
		2020		2019
Interest rate swaps	Derivative financial instruments	$	—	$	31,932

Derivative Liabilities for Ineffective Hedges	Financial Statement Classification	As of September 30,		As of December 31,
		2020		2019
Interest rate swaps	Derivative financial instruments	$	50,832	$	—