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Derivative Financial Instruments | 12 Months Ended
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Dec. 31, 2018
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 at December 31,
(in thousands) |  |  |  |  |  |  |  | Assets (Liabilities) (1)
Effective Date |  | Maturity Date |  | Notional Amount |  | Bank Pays Variable Rate of |  | Regency Pays Fixed Rate of |  | 2018 |  | 2017
12/6/18 |  | 6/28/19 |  | $ | 250,000 |  |  | 30 year U.S. Treasury |  | 3.147% |  | $ | (5,491 | ) |  | — |
4/3/17 |  | 12/2/20 |  | 300,000 |  |  | 1 Month LIBOR with Floor |  | 1.824% |  | 3,759 |  |  | 1,804 |
8/1/16 |  | 1/5/22 |  | 265,000 |  |  | 1 Month LIBOR with Floor |  | 1.053% |  | 10,838 |  |  | 10,744 |
4/7/16 |  | 4/1/23 |  | 20,000 |  |  | 1 Month LIBOR |  | 1.303% |  | 880 |  |  | 801 |
12/1/16 |  | 11/1/23 |  | 33,000 |  |  | 1 Month LIBOR |  | 1.490% |  | 1,376 |  |  | 1,166 |
6/2/17 |  | 6/2/27 |  | 37,500 |  |  | 1 Month LIBOR with Floor |  | 2.366% |  | 629 |  |  | (177 | )
Total derivative financial instruments |  | $ | 11,991 |  |  | 14,338 |
(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 December 31, 2018, does not have any derivatives that are not designated as hedges. The Company has master netting agreements; however, the Company generally does not have multiple derivatives subject to a single master netting agreement with the same counterparties and none are offset in the accompanying Consolidated Balance Sheets. The changes in the fair value of derivatives designated and qualifying as cash flow hedges are recorded in accumulated other comprehensive income ("AOCI") and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements:
Location and Amount of Gain (Loss) Recognized in OCI on Derivative |  | Location and Amount of Gain (Loss) Reclassified from AOCI into Income |  | Total amounts presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
| Year ended December 31, |  |  |  | Year ended December 31, |  |  |  | Year ended December 31,
(in thousands) | 2018 |  | 2017 |  | 2016 |  |  |  | 2018 |  | 2017 |  | 2016 |  |  |  | 2018 |  | 2017 |  | 2016
Interest rate swaps | $ | 402 |  |  | 1,151 |  |  | 10,613 |  |  | Interest expense |  | $ | (5,342 | ) |  | (11,103 | ) |  | (10,553 | ) |  | Interest expense, net |  | $ | (148,456 | ) |  | (132,629 | ) |  | (90,712 | )
Interest rate swaps | $ | — |  |  | — |  |  | (20,945 | ) |  | Loss on derivative instruments (1) |  | $ | — |  |  | — |  |  | (40,586 | ) |  | Loss on derivative instruments (1) |  | $ | — |  |  | — |  |  | 40,586 |
(1) During 2016, the Company completed an equity offering, rather than its previously expected issuance of new fixed rate debt, to fund the repayment of maturing debt and to settle the forward starting swaps entered in contemplation of the previously anticipated new debt transaction. As a result of the equity offering, the Company believed that the issuance of new fixed rate debt within the remaining period of the forward starting swaps was probable not to occur. Accordingly, the Company ceased hedge accounting and reclassified the $40.6 million paid to settle the forward starting swaps from Accumulated other comprehensive income to earnings during 2016.
As of December 31, 2018, the Company expects $867,000 of net deferred losses on derivative instruments in AOCI, 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 reclass is $7.4 million which is related to previously settled swaps on the Company's ten year fixed rate unsecured debt.

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- References No definition available. + Details
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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