Company: SLG-PI
Filing Date: 2025-04-17
Form Type: 10-K/A
Source: 0001040971-25-000019
Chunk: 94

Company: SL GREEN REALTY CORP
Filing Date: 2025-04-17
Form: 10-K/A
Chunk 94
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 the Company could also be declared in default on its derivative obligations. As of December 31, 2024, the fair value of derivatives in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $ 6.7million. As of December 31, 2024, the Company was not required to post any collateral related to these agreements and was not in breach of any agreement provisions. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at their aggregate termination value of $ 6.8million as of December 31, 2024.

Gains and losses on terminated hedges are included in accumulated other comprehensive income, and are recognized into earnings over the term of the related obligation. Over time, the realized and unrealized gains and losses held in accumulated other comprehensive income will be reclassified into earnings as an adjustment to interest expense in the same periods in which the hedged interest payments affect earnings. We estimate that ($ 18.4million) of the current balance held in accumulated other comprehensive income will be reclassified into interest expense and ($ 1.7million) of the portion related to our share of joint venture accumulated other comprehensive income will be reclassified into equity in net loss from unconsolidated joint ventures within the next 12 months.

The following table presents the effects of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of operations for the years ended December 31, 2024, 2023, and 2022, respectively (in thousands):

| Derivative                                                     |     | Amount of Gain (Loss)             
 Recognized in                     
 Other Comprehensive Income (Loss) 
 Year Ended December 31,           
 2024                              |        |     | 2023 |        |     | 2022 |         |     | Location of Gain (Loss)  Reclassified from Accumulated Other Comprehensive Income into Income |     | Year Ended December 31, 
 2024                    |     | Amount of Gain (Loss) Reclassified from            
 Accumulated Other Comprehensive Income into Income |        |     | 2023 |     |   |        |     | 2022 |     |   |       |
|:---------------------------------------------------------------|:----|:----------------------------------|-------:|:----|:-----|-------:|:----|:-----|--------:|: