Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets:

						Fair Value
(in thousands)						Assets (Liabilities) (1)
Effective Date	Maturity Date	Notional Amount		Receive Variable Rate of	Pay Fixed Rate of	September 30, 2021			December 31, 2020
8/1/16	1/5/22 (2)	$	265,000	1 Month LIBOR with Floor	1.053%	$	—			(2,472	)
4/7/16	4/1/23		19,124	1 Month LIBOR	1.303%		(312	)		(494	)
12/1/16	11/1/23		31,917	1 Month LIBOR	1.490%		(754	)		(1,181	)
9/17/19	3/17/25		24,000	1 Month LIBOR	1.542%		(729	)		(1,288	)
6/2/17	6/2/27		36,163	1 Month LIBOR with Floor	2.366%		(2,470	)		(3,856	)
						$	(4,265	)		(9,291	)

(1)	Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities.
(2)	In January 2021, the Company cash settled before maturity $265 million of notional interest rate swaps in connection with its repayment of the Term Loan.

Derivative Instruments, Gain (Loss)

The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements:

Location and Amount of Gain (Loss) Recognized in OCI on Derivative						Location and Amount of Gain (Loss) Reclassified from AOCI into Income					Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
	Three months ended September 30,						Three months ended September 30,					Three months ended September 30,
(in thousands)	2021		2020				2021		2020			2021		2020
Interest rate swaps	$	138		(666	)	Interest expense	$	1,040		2,570	Interest expense, net	$	35,993		40,794
	Nine months ended September 30,						Nine months ended September 30,					Nine months ended September 30,
(in thousands)	2021		2020				2021		2020			2021		2020
Interest rate swaps	$	3,646		(19,187	)	Interest expense	$	3,109		6,479	Interest expense, net	$	108,741		118,605