Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Liabilities at Fair Value

The following table presents the fair value of the interest rate derivative by valuation hierarchy and balance sheet classification:



	March 31, 2020										December 31, 2019
	Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
Derivative Assets
Other current assets	$	—	$	—		$	—	$	—		$	—	$	216		$	—	$	216
Other non-current assets	—		—			—		—			—		—			—		—
Total assets at fair value	$	—	$	—		$	—	$	—		$	—	$	216		$	—	$	216
Derivative Liabilities
Other current liabilities	$	—	$	(4,086	)	$	—	$	(4,086	)	$	—	$	(61	)	$	—	$	(61	)
Other non-current liabilities	—		(5,438		)	—		(5,438		)	—		(398		)	—		(398		)
Total liabilities at fair value	$	—	$	(9,524	)	$	—	$	(9,524	)	$	—	$	(459	)	$	—	$	(459	)

Schedule of Derivative Assets at Fair Value

The following table presents the fair value of the interest rate derivative by valuation hierarchy and balance sheet classification:



	March 31, 2020										December 31, 2019
	Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
Derivative Assets
Other current assets	$	—	$	—		$	—	$	—		$	—	$	216		$	—	$	216
Other non-current assets	—		—			—		—			—		—			—		—
Total assets at fair value	$	—	$	—		$	—	$	—		$	—	$	216		$	—	$	216
Derivative Liabilities
Other current liabilities	$	—	$	(4,086	)	$	—	$	(4,086	)	$	—	$	(61	)	$	—	$	(61	)
Other non-current liabilities	—		(5,438		)	—		(5,438		)	—		(398		)	—		(398		)
Total liabilities at fair value	$	—	$	(9,524	)	$	—	$	(9,524	)	$	—	$	(459	)	$	—	$	(459	)

Schedule of Changes in AOCI

The following table presents the change in other comprehensive income (“OCI”) during the three months ended March 31, 2020 for derivatives designated as cash flow hedges:



	Before Tax Amount			Tax Amount			Net of Tax Amount
Net gain (loss) recognized in OCI	$	(9,174	)	$	2,064		$	(7,110	)
Net amount reclassified from AOCI into earnings⁽¹⁾	63			(14		)	49
Change in OCI	$	(9,111	)	$	2,050		$	(7,061	)

⁽¹⁾Net unrealized losses totaling $3,946 are anticipated to be reclassified from AOCI into interest expense during the next 12 months due to settlement of the associated underlying obligations.

The following table presents changes in AOCI, net of tax:



	Unrealized Fair Value of Swap (Cash Flow Hedge)⁽¹⁾
Balance at December 31, 2019	$	(209	)
Net gain (loss) recognized in OCI, net of tax effect of $2,064	(7,110		)
Amount reclassified from AOCI into earnings, net of tax effect of ($14)	49
Change in OCI, net of tax	(7,061		)
Balance at March 31, 2020	$	(7,270	)

⁽¹⁾ See Note 11 - Financial Instruments for further discussion of our cash flow hedges.