Financial Instruments and Derivatives (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Effect of Derivative Instruments on Consolidated Statement of Operations

The tables below present the effect of the Company’s derivative financial instruments on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands):

Derivatives in Cash Flow Hedging Relationships	Location of Loss Reclassified	Net Loss Reclassified from Accumulated OCL into Interest Expense(1)
Three months ended September 30,	from Accumulated OCL into Income	2021			2020
Terminated interest rate swaps	Interest expense	$	(278	)	$	(279	)
Nine months ended September 30,
Terminated interest rate swaps	Interest expense	$	(835	)	$	(810	)

(1)See the Condensed Consolidated Statements of Comprehensive Income for changes in accumulated other comprehensive loss as these changes are presented net of the allocation to noncontrolling interests.

Derivative Not Designated as Hedging Instrument	Location of Gain (Loss) Recognized	Gain (Loss) Recognized in Earnings on Derivative
Three months ended September 30,	in Income on Derivative	2021		2020
Preferred stock embedded derivative	Other non-operating (income) expense	$	13,432	$	1,342
Nine months ended September 30,
Preferred stock embedded derivative	Other non-operating (income) expense	$	11,492	$	(14,603	)