Annual report pursuant to Section 13 and 15(d)

Derivative Instruments and Hedging Activities (Tables)

v3.19.3.a.u2
Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Derivative Fair Value
At December 31, 2019 and 2018, the following table presents information about the fair value amounts of the Company’s derivative instruments: 
 
Derivatives as of December 31,
 
2019
 
2018
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Derivatives Designated as Hedging Instruments:
 
 
 

 
 
 
 

Interest rate swap contracts
Other assets
 
$
15

 
Other assets
 
$
703

Interest rate swap contracts
Other liabilities
 
$
6,210

 
Other liabilities
 
$
3,187

Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
Other assets
 
$
—

 
Other assets
 
$
30

Commodity swap contracts
Other assets
 
$
198

 
Other assets
 
$
33

Interest rate swap contracts
Other liabilities
 
$
26

 
Other liabilities
 
$
—

Commodity swap contracts
Other liabilities
 
$
—

 
Other liabilities
 
$
70

Interest make-whole provisions
Other liabilities
 
$
918

 
Other liabilities
 
$
1,808

Schedule of Derivative Effect on Consolidated Statement of Income (Loss)
The following tables present information about the effects of the Company’s derivative instruments on the consolidated statements of income and consolidated statements of comprehensive income:
 
Location of (Gain) Loss Recognized in Net Income
 
Amount of (Gain) Loss Recognized in Net Income for the Year Ended December 31,
 
 
 
2019
 
2018
 
2017
Derivatives Designated as Hedging Instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
Other expenses, net
 
$
71

 
$
(196
)
 
$
(271
)
Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
Other expenses, net
 
$
56

 
$
(308
)
 
$
—

Commodity swap contracts
Other expenses, net
 
$
(234
)
 
$
36

 
$
—

Interest make-whole provisions
Other expenses, net
 
$
(890
)
 
$
337

 
$
—

Schedule of Derivative Instruments Effect on Comprehensive Income (Loss)
 
Year Ended
 
December 31, 2019
Derivatives Designated as Hedging Instruments:
 
     Accumulated loss in AOCI at the beginning of the period
$
(1,824
)
            Cumulative impact from the adoption of ASU No. 2018-02
(217
)
            Unrealized loss recognized in AOCI
(2,630
)
            Gain reclassified from AOCI to other expenses, net
(71
)
     Accumulated loss in AOCI at the end of the period
$
(4,742
)
Schedule of Derivative Instruments
The followings tables present a listing of all the Company’s active derivative instruments as of December 31, 2019:
Active Interest Rate Swap
Effective Date
Expiration Date
Initial Notional Amount ($)
Status
11-Year, 5.77% Fixed
October 2018
October 2029
$
9,200

Designated
15-Year, 5.24% Fixed
June 2018
June 2033
10,000

Designated
3-Year, 2.46% Fixed
March 2018
December 2020
17,100

Not Designated
10-Year, 4.74% Fixed
June 2017
December 2027
14,100

Designated
15-Year, 3.26% Fixed
February 2023
December 2038
14,084

Designated
7-Year, 2.19% Fixed
February 2016
February 2023
20,746

Designated
8-Year, 3.70% Fixed
March 2020
June 2028
14,643

Designated
8-Year, 3.70% Fixed
March 2020
June 2028
10,734

Designated
8-Year, 1.71% Fixed
October 2012
March 2020
9,665

Designated
8-Year, 1.71% Fixed
October 2012
March 2020
7,085

Designated
15-Year, 5.30% Fixed
February 2006
February 2021
3,256

Designated
15.5-Year, 5.40% Fixed
September 2008
March 2024
13,081

Designated
Active Commodity Swap
Effective Date
Expiration Date
Initial Notional Amount (Volume)
Commodity Measurement
Status
1-Year, $2.68 MMBtu Fixed
May 2019
April 2020
437,004

MMBtus
Not Designated
1-Year, $2.70 MMBtu Fixed
May 2020
April 2021
435,810

MMBtus
Not Designated
Other Derivatives
Classification
Effective Date
Expiration Date
Fair Value ($)
Interest make-whole provisions
Liability
June/August 2018
December 2038
$
918