Note 13 - Fair Value Measurements and Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	March 31, 2021								December 31, 2020
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Other long-term liabilities:
Interest rate swaps	$	2,314	$	-	$	2,314	$	-	$	2,784	$	-	$	2,784	$	-

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

		Notional		Fair
	Balance Sheet Location	Amount		Value
At March 31 2021:
Interest rate swaps	Other long-term liabilities	$	126,563	$	2,314

At December 31, 2020:
Interest rate swaps	Other long-term liabilities	$	128,250	$	2,784

Derivative Instruments, Gain (Loss) [Table Text Block]

	2021			2020
Loss recognized in accumulated other comprehensive loss	$	(27	)	$	(2,878	)
Loss reclassified from accumulated other comprehensive loss to income		(496	)		-

Effect of Cash Flow Hedge Accounting on the Statement of Operations [Table Text Block]

	2021			2020
Recorded as Interest Expense:
Hedged interest payments	$	(1,483	)	$	(2,081	)
Loss on interest rate swap		(496	)		-

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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ALASKA COMMUNICATIONS SYSTEMS GROUP INC 10-Q