Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments and Hedging Activities (Tables)

v3.20.1
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments
At March 31, 2020 and December 31, 2019, the following table presents information about the fair value amounts of the Company’s derivative instruments are as follows:
  Derivatives as of
  March 31, 2020   December 31, 2019
  Balance Sheet Location Fair Value Balance Sheet Location Fair Value
Derivatives Designated as Hedging Instruments:
Interest rate swap contracts Other assets $ —    Other assets $ 15   
Interest rate swap contracts Other liabilities 10,846    Other liabilities 6,210   
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contracts Other liabilities $ 36    Other liabilities $ 26   
Commodity swap contracts Other assets 246    Other assets 198   
Commodity swap contracts Other liabilities —    Other liabilities —   
Interest make-whole provisions Other liabilities 733    Other liabilities 918   
Other Derivatives Classification Effective Date Expiration Date Fair Value ($)
Interest make-whole provisions Liability June/August 2018 December 2038 $ 733   
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 condensed consolidated statements of income and condensed consolidated statements of comprehensive income:
Location of (Gain) Loss Recognized in Net Income Amount of (Gain) Loss Recognized in Net Income
Three Months Ended March 31,
2020 2019
Derivatives Designated as Hedging Instruments:
Interest rate swap contracts Other expenses, net $ 99    $ (49)  
Derivatives Not Designated as Hedging Instruments:
Interest rate swap contracts Other expenses, net $ 10    $ —   
Commodity swap contracts Other expenses, net (48)   —   
Interest make-whole provision Other expenses, net (185)   (723)  
Schedule of Derivative Instruments Effect on Comprehensive Income (Loss)
Three Months Ended
March 31, 2020
Derivatives Designated as Hedging Instruments:
     Accumulated loss in AOCI at the beginning of the period $ (4,742)  
            Unrealized loss recognized in AOCI (3,564)  
            Loss reclassified from AOCI to other expenses, net 99   
     Accumulated loss in AOCI at the end of the period $ (8,207)  
Schedule of Active Derivative Instruments
The following tables present a listing of all the Company’s active derivative instruments as of March 31, 2020:
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
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