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Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Financial Instruments
Our derivative financial instrument is classified as Level 2 in the fair value hierarchy. The following table presents the fair value of our derivative financial instrument:
As of December 31,
(amounts in thousands)Balance Sheet Location20222021
Interest Rate SwapOther assets, net$19,119 $3,524 
Effect of Derivative Instruments on Consolidated Statements of Operations
The table below presents the effect of our derivative financial instrument on the Consolidated Statements of Income and Comprehensive Income:
Derivatives in Cash Flow Hedging RelationshipAmount of (gain)/loss recognized
in OCI on derivative
for the year ended December 31,
Location of (gain)/ loss reclassified from
accumulated OCI into income
Amount of (gain)/loss reclassified from
accumulated OCI into income
for the year ended December 31,
(amounts in thousands)202220212020(amounts in thousands)202220212020
Interest Rate Swap$(19,904)$(2,777)$1,561 Interest Expense$(4,309)$746 $1,941