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Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2022
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 March 31, 2022 (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) | 2.1 | % | N/A
Weighted average swapped/capped interest rate | 6.1 | % | 1.4 | %
Earliest maturity date | January 2024 | November 2022
Latest maturity date | November 2026 | November 2022
____________________________________ (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.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table summarizes the deferred losses reclassified from accumulated other comprehensive loss into earnings (dollars in thousands):
| For the three months ended |  |
| 3/31/2022 |  | 3/31/2021 |  |  |  |
Cash flow hedge losses reclassified to earnings | $ | 1,013 |  |  | $ | 2,367 |  |  |  |  |
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):
|  | 3/31/2022
Description |  | Total Fair Value |  | Quoted Prices in Active Markets for Identical Asset (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Non Designated Hedges |  |  |  |  |  |  |  |
Interest Rate Caps |  | $ | 955 |  |  | $ | — |  |  | $ | 955 |  |  | $ | — |
Interest Rate Swaps - Assets |  | 13,359 |  |  | — |  |  | 13,359 |  |  | — |
DownREIT units |  | (1,863) |  |  | (1,863) |  |  | — |  |  | — |
Indebtedness |  |  |  |  |  |  |  |
Fixed rate unsecured notes |  | (7,040,472) |  |  | (7,040,472) |  |  | — |  |  | — |
Mortgage notes payable and Term Loan |  | (841,293) |  |  | — |  |  | (841,293) |  |  | — |
Total |  | $ | (7,869,314) |  |  | $ | (7,042,335) |  |  | $ | (826,979) |  |  | $ | — |
|  | 12/31/2021
Description |  | Total Fair Value |  | Quoted Prices in Active Markets for Identical Asset (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
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 and Term Loans |  | (940,779) |  |  | — |  |  | (940,779) |  |  | — |
Total |  | $ | (8,563,805) |  |  | $ | (7,626,455) |  |  | $ | (937,350) |  |  | $ | — |

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&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=125515794&loc=SL5624171-113959 Reference 9: 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=125515794&loc=SL5579240-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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