XML 59 R38.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Derivative Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the terms and fair values of the Company's derivative financial instruments, as well as their classification on the Consolidated Balance Sheets:
|  |  |  |  |  |  |  |  |  |  |  | Fair Value at December 31,
(in thousands) |  |  |  |  |  |  |  |  |  | Assets (Liabilities) (2)
Effective Date |  | Maturity Date |  | Early Termination Date (1) |  | Notional Amount |  | Bank Pays Variable Rate of |  | Regency Pays Fixed Rate of |  | 2016 |  | 2015
10/16/13 |  | 10/16/20 |  | N/A |  | $ | 28,100 |  |  | 1 Month LIBOR |  | 2.196% |  | $ | (580 | ) |  | (898 | )
8/1/16 |  | 1/5/22 |  | N/A |  | 200,000 |  |  | 1 Month LIBOR |  | 1.048% |  | 7,538 |  |  | — |
8/1/16 |  | 1/5/22 |  | N/A |  | 65,000 |  |  | 1 Month LIBOR |  | 1.070% |  | 2,351 |  |  | — |
4/7/16 |  | 4/1/23 |  | N/A |  | 20,000 |  |  | 1 Month LIBOR |  | 1.303% |  | 720 |  |  | — |
12/1/16 |  | 11/1/23 |  | N/A |  | 33,000 |  |  | 1 Month LIBOR |  | 1.490% |  | 1,013 |  |  | — |
6/15/17 |  | 6/15/27 |  | 12/15/17 |  | 20,000 |  |  | 3 Month LIBOR |  | 3.488% | (3) | — |  |  | (1,798 | )
6/15/17 |  | 6/15/27 |  | 12/15/17 |  | 100,000 |  |  | 3 Month LIBOR |  | 3.480% | (3) | — |  |  | (8,922 | )
6/15/17 |  | 6/15/27 |  | 12/15/17 |  | 100,000 |  |  | 3 Month LIBOR |  | 3.480% | (3) | — |  |  | (8,921 | )
Total derivative financial instruments |  | $ | 11,042 |  |  | (20,539 | )
(1) Represents the date specified in the agreement for either optional or mandatory early termination by the counterparty, which will result in cash settlement. The Company has the option to terminate and settle at any date prior to this. (2) Derivatives in an asset position are included within Other assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts payable and other liabilities. (3) In 2014, the Company entered into $220 million of forward starting interest rate swaps to hedge the interest rate on new fixed rate ten year debt that the Company expected to issue in June 2017 for the specific purpose of repaying at maturity the $300 million notes. These interest rate swaps locked in a weighted average fixed rate of 3.48%, before the Company's credit spread. These swaps were settled during the during the third quarter of 2016, as further described below.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements:
Derivatives in FASB ASC Topic 815 Cash Flow Hedging Relationships: | Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) |  | Location and Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) |  | Location and Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Missed Forecast)
| Year ended December 31, |  |  |  | Year ended December 31, |  |  |  | Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014 |  |  |  | 2016 |  | 2015 |  | 2014 |  |  |  | 2016 |  | 2015 |  | 2014
Interest rate swaps | $ | (10,332 | ) |  | (10,089 | ) |  | (49,968 | ) |  | Interest expense |  | $ | (51,139 | ) |  | (9,152 | ) |  | (9,353 | ) |  | Loss on derivative instruments |  | $ | (40,586 | ) |  | — |  |  | — |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration