| Summary of Derivative Financial Instruments |
The following table summarizes the terms of our derivative financial instruments as of December 31, 2021:
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Effective Date or
Date Assumed |
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$ |
235,000,000 |
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1.79 |
% |
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June 15, 2019 |
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February 15, 2022 |
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Foreign Currency Forwards: |
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$ |
125,925,000 |
(1) |
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1.2593 |
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April 12, 2021 |
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April 12, 2023 |
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122,020,000 |
(1) |
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1.2202 |
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May 6, 2021 |
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April 12, 2022 |
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(1) |
Notional amounts shown are denominated in CAD. | The following table summarizes the terms of our derivative financial instruments as of December 31, 2020:
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Effective Date or
Date Assumed |
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$ |
235,000,000 |
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1.79 |
% |
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June 15, 2019 |
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February 15, 2022 |
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$ |
80,000,000 |
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0.50 |
% |
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August 3, 2020 |
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August 2, 2021 |
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99,300,000 |
(1) |
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3.00 |
% |
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October 11, 2018 |
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October 15, 2021 |
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1,000,000 |
(1) |
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3.00 |
% |
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March 28, 2019 |
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October 15, 2021 |
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11,700,000 |
(1) |
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3.00 |
% |
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May 28, 2019 |
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October 15, 2021 |
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Foreign Currency Forward: |
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$ |
95,000,000 |
(1) |
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1.334 |
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February 10, 2020 |
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February 10, 2021 |
(2) |
(1) |
Notional amount shown is denominated in CAD. |
(2) |
On February 10, 2021, we rolled this currency forward into a new $95 million CAD currency forward with a strike price of 1.334, and a maturity date of April 12, 2021. |
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| Schedule of Fair Value of Derivative Financial Instruments and Classification In Consolidated Balance Sheets |
The following table presents a gross presentation of the fair value of our derivative financial instruments as well as their classification on our consolidated balance sheets as of December 31, 2021 and 2020:
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Asset/Liability Derivatives
Fair Value |
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Accounts payable and accrued liabilities |
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$ |
490,341 |
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$ |
4,379,424 |
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$ |
4,261,100 |
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$ |
— |
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Accounts payable and accrued liabilities |
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— |
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3,270,910 |
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