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Derivatives | 3 Months Ended
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Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Derivative Financial Instruments 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
| (in thousands) |  |  |  |  |  |  |  | Assets (Liabilities)(1)
| Effective Date |  | Maturity Date |  | Notional Amount |  | Bank Pays Variable Rate of |  | Regency Pays Fixed Rate of |  | March 31, 2017 |  | December 31, 2016
| 10/16/13 |  | 10/16/20 |  | $ | 28,100 |  |  | 1 Month LIBOR |  | 2.196% |  | $ | (440 | ) |  | (580 | )
| 4/3/17 |  | 12/2/20 |  | 300,000 |  |  | 1 Month LIBOR with Floor |  | 1.824% |  | (593 | ) |  | — |
| 8/1/16 |  | 1/5/22 |  | 265,000 |  |  | 1 Month LIBOR with Floor |  | 1.053% |  | 10,469 |  |  | 9,889 |
| 4/7/16 |  | 4/1/23 |  | 20,000 |  |  | 1 Month LIBOR |  | 1.303% |  | 770 |  |  | 720 |
| 12/1/16 |  | 11/1/23 |  | 33,000 |  |  | 1 Month LIBOR |  | 1.490% |  | 1,101 |  |  | 1,013 |
Total derivative financial instruments |  | $ | 11,307 |  |  | 11,042 |
(1) 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. These derivative financial instruments are all interest rate swaps, which are designated and qualify as cash flow hedges. The Company does not use derivatives for trading or speculative purposes and, as of March 31, 2017, does not have any derivatives that are not designated as hedges. The Company has master netting agreements; however, the Company does not have multiple derivatives subject to a single master netting agreement with the same counterparties. Therefore, none are offset in the accompanying Consolidated Balance Sheets. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in Accumulated other comprehensive income (loss) ("AOCI") and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings within Interest expense, in the accompanying Consolidated Statements of Operations. 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)
| Three months ended March 31, |  |  |  | Three months ended March 31, |  |  |  | Three months ended March 31,
(in thousands) | 2017 |  | 2016 |  |  |  | 2017 |  | 2016 |  |  |  | 2017 |  | 2016
Interest rate swaps | $ | (68 | ) |  | (16,785 | ) |  | Interest expense |  | $ | (2,654 | ) |  | (2,453 | ) |  | Loss on derivative instruments |  | $ | — |  |  | — |
As of March 31, 2017, the Company expects $10.5 million of net deferred losses on derivative instruments in Accumulated other comprehensive loss, including the Company's share from its Investments in real estate partnerships, to be reclassified into earnings during the next 12 months. Included in the reclassification is $8.4 million which is related to previously settled swaps on the Company's ten year fixed rate unsecured loans.

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