| 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):
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Fair Value |
| Effective Date |
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Maturity Date |
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Notional Amount |
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Bank Pay Rate |
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Company Fixed Pay Rate |
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September 30, 2020 |
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December 31, 2019 |
Assets (Liabilities)(1):
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| Interest rate swaps: |
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| April 13, 2016 |
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January 1, 2021 |
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175,000 |
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1 |
month LIBOR |
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1.03 |
% |
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$ |
(411) |
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$ |
1,018 |
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| March 1, 2018 |
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January 31, 2021 |
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40,000 |
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1 |
month LIBOR |
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2.47 |
% |
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(311) |
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(376) |
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| August 14, 2018 |
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January 1, 2021 |
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150,000 |
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1 |
month LIBOR |
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2.20 |
% |
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(817) |
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(896) |
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| July 1, 2019 |
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February 1, 2024 |
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25,000 |
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1 |
month LIBOR |
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1.75 |
% |
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(1,314) |
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(170) |
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| January 1, 2021 |
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February 1, 2024 |
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150,000 |
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1 |
month LIBOR |
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0.60 |
% |
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(2,043) |
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— |
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| January 1, 2021 |
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February 1, 2024 |
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$ |
100,000 |
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1 |
month LIBOR |
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0.22 |
% |
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$ |
(238) |
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— |
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| Total |
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$ |
640,000 |
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$ |
(5,134) |
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$ |
(424) |
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| 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):
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Three months ended September 30, |
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Nine months ended September 30, |
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2020 |
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2019 |
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2020 |
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2019 |
| Interest Rate Swaps: |
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Amount of loss recognized in other comprehensive income (loss) on derivative |
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$ |
1,463 |
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$ |
(1,011) |
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$ |
(4,711) |
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$ |
(6,576) |
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