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Fair Value (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of summary of consolidated hedging derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale

The following table summarizes the consolidated derivative positions at December 31, 2021 (dollars in thousands):

						Non-designated Hedges						Cash Flow Hedges
						Interest Rate Caps						Interest Rate Swaps
Notional balance						$	402,670					$	150,000
Weighted average interest rate (1)						1.7		%				N/A
Weighted average swapped/capped interest rate						6.1		%				1.4		%
Earliest maturity date						January 2024						March 2022
Latest maturity date						November 2026						March 2022

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(1)     For debt hedged by interest rate caps, represents the weighted average interest rate on the hedged debt prior to any impact of the associated interest rate caps.

Summary of deferred losses reclassified from AOCI

The following table summarizes the deferred losses reclassified from accumulated other comprehensive loss into earnings (dollars in thousands):

			For the year ended
			12/31/21						12/31/20						12/31/19
Cash flow hedge losses reclassified to earnings			$	13,151					$	8,984					$	6,571

Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis

The following tables summarize the classification between the three levels of the fair value hierarchy of the Company's financial instruments measured/disclosed at fair value on a recurring basis (dollars in thousands):

Description			Total Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			12/31/2021
Non Designated Hedges
Interest Rate Caps			$	225					$	—					$	225					$	—
Interest Rate Swaps - Assets			3,204						—						3,204						—
DownREIT units			(1,895)						(1,895)						—						—
Indebtedness
Fixed rate unsecured notes			(7,624,560)						(7,624,560)						—						—
Mortgage notes payable, variable rate unsecured notes			(940,779)						—						(940,779)						—
Total			$	(8,563,805)					$	(7,626,455)					$	(937,350)					$	—
			12/31/2020
Non Designated Hedges
Interest Rate Caps			$	6					$	—					$	6					$	—
Interest Rate Swaps - Assets			4,308						—						4,308						—
DownREIT units			(1,203)						(1,203)						—						—
Indebtedness
Fixed rate unsecured notes			(7,271,799)						(7,271,799)						—						—
Mortgage notes payable, variable rate unsecured notes			(1,043,976)						—						(1,043,976)						—
Total			$	(8,312,664)					$	(7,273,002)					$	(1,039,662)					$	—

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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.

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