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SEC Filings

10-K
RLJ LODGING TRUST filed this Form 10-K on 03/01/2019
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10. Derivatives and Hedging

The Company's interest rate swaps consisted of the following (in thousands): 
 
 
 
 
 
 
Notional value at
 
Fair value at
Hedge type
 
Interest rate
 
Maturity
 
December 31, 2018
 
December 31, 2017
 
December 31, 2018
 
December 31, 2017
Swap-cash flow
 
1.56%
 
March 2018
 

 
175,000

 

 
(38
)
Swap-cash flow
 
1.64%
 
March 2018
 

 
175,000

 

 
(71
)
Swap-cash flow
 
1.83%
 
September 2018
 

 
15,758

 

 
(23
)
Swap-cash flow
 
1.75%
 
September 2018
 

 
15,758

 

 
(14
)
Swap-cash flow
 
1.83%
 
September 2018
 

 
38,678

 

 
(57
)
Swap-cash flow
 
1.75%
 
September 2018
 

 
39,632

 

 
(35
)
Swap-cash flow
 
1.83%
 
September 2018
 

 
17,190

 

 
(25
)
Swap-cash flow
 
1.75%
 
September 2018
 

 
16,235

 

 
(14
)
Swap-cash flow
 
2.02%
 
March 2019
 
125,000

 
125,000

 
148

 
(383
)
Swap-cash flow
 
1.94%
 
March 2019
 
100,000

 
100,000

 
136

 
(213
)
Swap-cash flow
 
1.27%
 
March 2019
 
125,000

 
125,000

 
447

 
836

Swap-cash flow
 
1.96%
 
March 2019
 
100,000

 
100,000

 
153

 
(230
)
Swap-cash flow
 
1.85%
 
March 2019
 
50,000

 
50,000

 
93

 
(43
)
Swap-cash flow
 
1.81%
 
March 2019
 
50,000

 
50,000

 
99

 
(19
)
Swap-cash flow
 
1.74%
 
March 2019
 
25,000

 
25,000

 
54

 
13

Swap-cash flow
 
1.80%
 
September 2020
 
30,855

 
33,000

 
370

 
202

Swap-cash flow
 
1.80%
 
September 2020
 
76,670

 
82,000

 
919

 
502

Swap-cash flow
 
1.80%
 
September 2020
 
32,725

 
35,000

 
392

 
214

Swap-cash flow
 
1.81%
 
October 2020
 
143,000

 
143,000

 
1,808

 
803

Swap-cash flow
 
1.15%
 
April 2021
 
100,000

 
100,000

 
3,072

 
2,880

Swap-cash flow
 
1.20%
 
April 2021
 
100,000

 
100,000

 
2,955

 
2,726

Swap-cash flow
 
2.15%
 
April 2021
 
75,000

 
75,000

 
539

 
(144
)
Swap-cash flow
 
1.91%
 
April 2021
 
75,000

 
75,000

 
967

 
415

Swap-cash flow
 
1.61%
 
June 2021
 
50,000

 
50,000

 
1,057

 
769

Swap-cash flow
 
1.56%
 
June 2021
 
50,000

 
50,000

 
1,129

 
869

Swap-cash flow
 
1.71%
 
June 2021
 
50,000

 
50,000

 
934

 
598

Swap-cash flow (1)
 
2.29%
 
December 2022
 
200,000

 
200,000

 
938

 
(413
)
Swap-cash flow (1)
 
2.29%
 
December 2022
 
125,000

 
125,000

 
607

 
(259
)
Swap-cash flow (1)
 
2.38%
 
December 2022
 
200,000

 

 
259

 

Swap-cash flow (1)
 
2.38%
 
December 2022
 
100,000

 

 
139

 

Swap-cash flow (2)
 
2.75%
 
November 2023
 
100,000

 

 
(1,020
)
 

 
 
 
 
 
 
$
2,083,250

 
$
2,186,251

 
$
16,195

 
$
8,846


(1)
Effective between the maturity of the existing swaps in March 2019 and December 2022.
(2)
Effective in November 2020.

As of December 31, 2018 and 2017, the aggregate fair value of the interest rate swap assets of $17.2 million and $10.8 million, respectively, was included in prepaid expense and other assets in the accompanying consolidated balance sheets. As of December 31, 2018 and 2017, the aggregate fair value of the interest rate swap liabilities of $1.0 million and $2.0 million, respectively, was included in accounts payable and other liabilities in the accompanying consolidated balance sheets.

As of December 31, 2018 and 2017, there was approximately $16.2 million and $8.8 million, respectively, of unrealized gains included in accumulated other comprehensive income related to interest rate hedges that are effective in offsetting the variable cash flows. There was no ineffectiveness recorded on the designated hedges during the years ended December 31,

F-29

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