FAIR VALUE MEASUREMENTS AND DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents information about the Company’s financial instruments recorded at fair value on a recurring basis (in thousands):

	Balance Sheet	Fair Value Measurements at September 30, 2020 Using								Fair Value Measurements at December 31, 2019 Using
Description	Location	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Derivative financial instruments ⁽¹⁾	Other current assets	$	-	$		$		$		$	250	$	-	$	250	$	-
Derivative financial instruments ⁽¹⁾	Other non-current assets		-		-		-		-		652		-		652		-
Total Assets			-		-		-		-		902		-		902		-

Liabilities:
Derivative financial instruments ⁽¹⁾	Other current liabilities		1,847		-		1,847		-		-		-		-		-
Derivative financial instruments ⁽¹⁾	Other long term liabilities		3,542		-		3,542		-		-		-		-		-
Total Liabilities		$	5,389	$	-	$	5,389	$	-	$	-	$	-	$	-	$	-

Schedule of Interest Rate Derivatives

The effect of the interest rate swap contract designated as cash flows hedging instrument on the condensed consolidated financial statements was as follows (in thousands):

Derivative	Amount of Loss Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative						Location of Gain Reclassified From Accumulated Other Comprehensive Income (Loss) into Income	Amount of Loss Reclassified from Accumulated Other Comprehensive Income (Loss) into Income
	Three months ended September 30, 2020			Nine months ended September 30, 2020				Three months ended September 30, 2020		Nine months ended September 30, 2020
Interest rate swap	$	(126	)	$	(7,179	)	Interest expense	519		$	888
Total	$	(126	)	$	(7,179	)		$	519	$	888

Derivative	Amount of Loss Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative				Location of Gain Reclassified From Accumulated Other Comprehensive Income (Loss) into Income	Amount of Loss Reclassified from Accumulated Other Comprehensive Income (Loss) into Income
	Three months ended September 30, 2019		March 20 to September 30, 2019			Three months ended September 30, 2019			March 20 to September 30, 2019
Interest rate swap	$	88	$	88	Interest expense	$	(35	)	$	(35	)
Total	$	88	$	88		$	(35	)	$	(35	)