Annual report pursuant to Section 13 and 15(d)

Derivative Instruments and Hedging Activities

v3.22.4
Derivative Instruments and Hedging Activities
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities
We are party to fixed interest rate swap instruments that are designated and accounted for as cash flow hedges to manage risks associated with interest rate fluctuations on a portion of our floating rate debt.

Our derivative instruments designated as cash flow hedges as of December 31, 2022 were (in thousands):

Notional Amount Paid Fixed Rate Receive Variable Rate Settlement and Termination
Interest rate swap(1)
$150,000 2.8% 1-month term SOFR Monthly through October 31, 2027
(1) On July 22, 2022, we executed forward-starting fixed interest rate swap, the tenor of which began on October 31, 2022.