Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of cash flow hedges included in accumulated other comprehensive income (loss)

As of June 30, 2021, the Company had eight outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

DERIVATIVE INSTRUMENT	NUMBER OF INSTRUMENTS	NOTIONAL AMOUNT in millions
Interest rate swaps	8	$175.0

The table below presents the effect of cash flow hedge accounting on AOCI during the three and six months ended June 30, 2021 and 2020 related to the Company's outstanding interest rate swaps.

	(GAIN) LOSS RECOGNIZED IN AOCI ON DERIVATIVE three months ended June 30,					LOSS RECLASSIFIED FROM AOCI INTO INCOME three months ended June 30,
In thousands	2021		2020			2021		2020
Interest rate swaps	$	807	$	1,455	Interest expense	$	965	$	789
Settled treasury hedges	—		—		Interest expense	107		107
Settled interest rate swaps	—		—		Interest expense	42		42
	$	807	$	1,455	Total interest expense	$	1,114	$	938

	(GAIN) LOSS RECOGNIZED IN AOCI ON DERIVATIVE six months ended June 30,					LOSS RECLASSIFIED FROM AOCI INTO INCOME six months ended June 30,
In thousands	2021		2020			2021		2020
Interest rate swaps	$	(2,043)	$	11,119	Interest expense	$	1,912	$	1,061
Settled treasury hedges	—		4,267		Interest expense	213		122
Settled interest rate swaps	—		—		Interest expense	84		84
	$	(2,043)	$	15,386	Total interest expense	$	2,209	$	1,267

Schedule of derivative instruments in statement of financial position, fair value

The table below presents the fair value of the Company's derivative financial instruments, as well as their classification on the Condensed Consolidated Balance Sheet as of June 30, 2021.

	BALANCE AT JUNE 30, 2021
In thousands	BALANCE SHEET LOCATION	FAIR VALUE
Derivatives designated as hedging instruments
Interest rate swaps	Other liabilities	$	9,219
Total derivatives designated as hedging instruments		$	9,219