General form of registration statement for all companies including face-amount certificate companies

Derivatives (Tables)

v3.19.3.a.u2
Derivatives (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Schedule of Swaps' outstanding notional balance and terms  
As of December 31, 2018, the Swaps' outstanding notional balances, effective dates, maturity dates and interest rates paid and received are noted below:
Notional
 
Effective Date
 
Maturity Date
 
Fixed Rate Paid
 
Variable Rate Received
$
189,506,107

 
March 23, 2018
 
April 9, 2022
 
3.110%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor
247,500,000

 
March 23, 2018
 
April 9, 2022
 
3.110%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor
49,500,000

 
March 23, 2018
 
April 9, 2022
 
2.504%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor
373,230,000

 
March 23, 2018
 
September 30, 2022
 
1.833%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor


Schedule of impact of the derivatives designated as cash flow hedges on the condensed consolidated financial statements
The impact of the derivatives designated as cash flow hedges on the condensed consolidated financial statements is depicted below (amounts in thousands):
 
Successor Company
 
 
Predecessor Company
 
Period from September 1, 2019 through September 30,
 
 
Period from July 1, 2019 through August 31,
 
Three Months Ended September 30,
 
2019
 
 
2019
 
2018
Effective portion of gain recognized in Accumulated other comprehensive income (loss)
$

 
 
$

 
3,165

Effective portion of loss reclassified from Accumulated other comprehensive income (loss) into Net income (loss) (a)

 
 

 
(104
)
 
(a)        Amounts are included in Interest expense in the unaudited condensed consolidated statements of operations and comprehensive income (loss).

 
Successor Company
 
 
Predecessor Company
 
Period from September 1, 2019 through September 30,
 
 
Period from January 1, 2019 through August 31,
 
Nine Months Ended September 30,
 
2019
 
 
2019
 
2018
Effective portion of gain recognized in Accumulated other comprehensive income (loss)
$

 
 
$

 
21,929

Effective portion of loss reclassified from Accumulated other comprehensive income (loss) into Net income (loss) (a)

 
 
(940
)
 
(1,267
)
 
(a)        Amounts are included in Interest expense in the unaudited condensed consolidated statements of operations and comprehensive income (loss).

The impact of the derivatives designated as cash flow hedges on the consolidated financial statements is depicted below (amounts in thousands):
 
Year Ended December 31,
 
2018
 
2017
 
2016
Effective portion of gain (loss) recognized in Accumulated other comprehensive income (loss)
$
12,882

 
(3,842
)
 
(2,673
)
Effective portion of loss reclassified from Accumulated other comprehensive income (loss) into Net loss (a)
$
(1,496
)
 
(5,424
)
 
(7,262
)
Ineffective portion of amount of gain recognized into Net loss on interest rate swaps (a)
$

 
88

 
423

 
(a)         Amounts are included in Interest expense in the consolidated statements of operations and comprehensive income (loss). Upon the adoption of ASU 2017-12 on January 1, 2018, ineffectiveness is no longer measured or recognized.