Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.2
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of interest rate swap derivatives measured at fair value Information regarding the Company's interest rate swaps measured at fair value, which are classified within Level 2 of the GAAP fair value hierarchy, is presented below (dollars in thousands):
Fair Value
Number of Contracts Notional Amount Other Assets, net Interest Rate Swap Liabilities
As of June 30, 2022
Interest Rate Swaps 15 $ 1,125,000  $ 27,674  $ — 
As of December 31, 2021
Interest Rate Swaps 19 $ 1,125,000  $ —  $ 33,757 

The following table presents the effect of our derivative instruments on our consolidated financial statements (dollars in thousands):
Fair value at December 31, 2020 $ (77,918)
Swap ineffectiveness
24 
Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss
10,081 
Unrealized losses on interest rate swaps included in accumulated other comprehensive (loss) income
14,175 
Fair value at June 30, 2021 $ (53,638)
Fair value at December 31, 2021 $ (33,757)
Swap ineffectiveness
Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive income
8,260 
Unrealized gains on interest rate swaps included in accumulated other comprehensive (loss) income
53,169 
Fair value at June 30, 2022 $ 27,674