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Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Schedule of fair value by balance sheet groupings | We believe that the carrying values reflected in our consolidated balance sheets reasonably approximate the fair values for cash and cash equivalents, accounts receivable, escrow deposits, loans receivable, line of credit payable, term loans and all other liabilities, due to their short-term nature or interest rates and terms that are consistent with market, except for our mortgages payable assumed in connection with acquisitions and our senior notes and bonds payable, which are disclosed as follows (dollars in millions):
September 30, 2019 | Carrying value |  |  | Estimated fair value |
Mortgages payable assumed in connection with acquisitions (1) | $ | 278.9 |  |  | $ | 289.5 |
Notes and bonds payable (2) | 6,287.1 |  |  | 6,839.7 |
December 31, 2018 | Carrying value |  |  | Estimated fair value |
Mortgages payable assumed in connection with acquisitions (1) | $ | 298.4 |  |  | $ | 305.7 |
Notes and bonds payable (2) | 5,400.0 |  |  | 5,430.0 |
(1) | Excludes non-cash net premiums recorded on the mortgages payable. The unamortized balance of these net premiums was $3.3 million at September 30, 2019, and $4.4 million at December 31, 2018. Also excludes deferred financing costs of $143,000 at September 30, 2019 and $183,000 at December 31, 2018.
(2) Excludes non-cash original issuance premiums and discounts recorded on notes payable. The unamortized balance of the net original issuance premiums was $6.6 million at September 30, 2019, and $10.5 million at December 31, 2018. Also excludes deferred financing costs of $37.3 million at September 30, 2019 and $33.7 million at December 31, 2018.
Schedule of derivative financial instruments | The following table summarizes the terms and fair values of our derivative financial instruments at September 30, 2019 and December 31, 2018 (dollars in millions):
Derivative Type | Hedge Designation | Notional Amount | Strike | Effective Date | Maturity Date | Fair Value - asset (liability)
|  | September 30, | December 31, |  |  |  | September 30, | December 31,
|  | 2019 | 2018 |  |  |  | 2019 | 2018
Interest rate swap | Cash flow | $ | 7.1 |  | $ | 7.2 |  | 6.03% | 09/25/2012 | 09/03/2021 | $ | (0.3 | ) | $ | (0.2 | )
Interest rate swap | Cash flow | 250.0 |  | 250.0 |  | 1.72% | 06/30/2015 | 06/30/2020 | — |  | 3.0 |
Interest rate swap | Cash flow | 250.0 |  | 250.0 |  | 3.04% | 10/24/2018 | 03/24/2024 | (17.4 | ) | (6.8 | )
Cross-currency swap (1) | Cash flow | 41.6 |  | — |  | (2) | 05/20/2019 | 05/22/2034 | 2.9 |  | — |
Cross-currency swap (1) | Cash flow | 41.6 |  | — |  | (3) | 05/20/2019 | 05/22/2034 | 2.9 |  | — |
Cross-currency swap (1) | Cash flow | 41.6 |  | — |  | (4) | 05/20/2019 | 05/22/2034 | 2.4 |  | — |
Cross-currency swap (1) | Cash flow | 41.6 |  | — |  | (5) | 05/20/2019 | 05/22/2034 | 2.2 |  | — |
|  | $ | 673.5 |  | $ | 507.2 |  |  |  |  | $ | (7.3 | ) | $ | (4.0 | )
(1) | Represents British Pound Sterling, or GBP, United States Dollar, or USD, cross-currency swap.
(2) | GBP fixed rates initially at 4.82% and escalating to 10.96%, and USD fixed rate at 9.800%.
(3) | GBP fixed rates initially at 4.82% and escalating to 10.96%, and USD fixed rate at 9.803%.
(4) | GBP fixed rates initially at 4.82% and escalating to 10.96%, and USD fixed rate at 9.745%.
(5) GBP fixed rates initially at 4.82% and escalating to 10.96%, and USD fixed rate at 9.755%.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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