Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Tables)

v3.22.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2022
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 as of December 31, 2022 and 2021 (notional amounts and fair values in thousands):
Fair Value
Effective Date Maturity Date Notional Amount Bank Pay Rate Company Average Fixed Pay Rate 2022 2021
Assets (Liabilities) (1):
July 1, 2019 February 1, 2024 25,000  Daily Adjusted SOFR 1.68  % $ 853  $ (459)
January 1, 2021 February 1, 2024 150,000  Daily Adjusted SOFR 0.53  % 6,966  828 
January 1, 2021 February 1, 2024 100,000  Daily Adjusted SOFR 0.15  % 5,043  1,331 
March 1, 2021 February 1, 2024 25,000  Daily Adjusted SOFR 0.18  % 1,256  326 
Total $ 300,000  $ 14,118  $ 2,026 
(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 for the years ended December 31, 2022, 2021 and 2020, respectively (in thousands):
2022 2021 2020
Interest Rate Swaps (Effective Portion):
Amount of gain (loss) recognized in other comprehensive income (loss) $ 12,092  $ 5,383  $ (2,934)