Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.20.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2020
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
 
March 31, 2020
 
December 31, 2019
Assets (Liabilities)(1):
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
April 13, 2016
 
January 1, 2021
 
175,000

 
1
 month LIBOR
 
1.03
%
 
$
(890
)
 
$
1,018

March 1, 2018
 
January 31, 2021
 
40,000

 
1
 month LIBOR
 
2.47
%
 
(708
)
 
(376
)
August 14, 2018
 
January 1, 2021
 
150,000

 
1
 month LIBOR
 
2.20
%
 
(2,103
)
 
(896
)
July 1, 2019
 
February 1, 2024
 
25,000

 
1
 month LIBOR
 
1.75
%
 
(1,301
)
 
(170
)
January 1, 2021
 
February 1, 2024
 
150,000

 
1
 month LIBOR
 
0.60
%
 
(1,098
)
 
—

Total
 
 
 
$
540,000

 
 
 
 
 
 
$
(6,100
)
 
$
(424
)

(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 March 31,
 
 
2020
 
2019
Interest Rate Swaps:
 
 
 
 
Amount of gain (loss) recognized in other comprehensive income (loss) on derivative
 
$
(5,676
)
 
$
(1,952
)