Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.19.3
Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the terms and fair values of our derivative financial instruments, as well as their classifications within the consolidated balance sheets (notional amounts and fair values in thousands):

 
 
 
 
 
 
 
 
 
 
 
Fair Value
Effective Date
 
Maturity Date
 
Notional Amount
 
Bank Pay Rate
 
Company Fixed Pay Rate
 
September 30, 2019
 
December 31, 2018
Assets (Liabilities)(1):
 
 
 
 
 
 
 
 
 
 
 
 
 
April 13, 2016
 
January 1, 2021
 
175,000

 
1
 month LIBOR
 
1.03
%
 
$
1,203

 
$
4,948

March 1, 2018
 
January 31, 2021
 
40,000

 
1
 month LIBOR
 
2.47
%
 
(480
)
 
(6
)
August 14, 2018
 
January 1, 2021
 
150,000

 
1
 month LIBOR
 
2.20
%
 
(1,166
)
 
807

July 1, 2019
 
February 1, 2024
 
25,000

 
1
 month LIBOR
 
1.75
%
 
(384
)
 
—

Total
 
 
 
$
390,000

 
 
 
 
 
 
$
(827
)
 
$
5,749


(1)
Asset balances are recorded in prepaids and other assets on the consolidated balance sheets and liabilities are recorded in other liabilities on the consolidated balance sheets. 

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements (in thousands):
 
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Interest Rate Swaps:
 

 

 
 
 
 
Amount of gain (loss) recognized in Other comprehensive income (loss) on derivative
 
$
(1,011
)
 
$
512

 
$
(6,576
)
 
$
4,095