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Derivative Instruments and Hedging Activity (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activity

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (in thousands, except number of instruments):

​	​	​	​	​	​	​	​	​	​	​
​	​	Number of Instruments 1			​	Notional 1
​	​	December 31,	​	December 31,	​	December 31,		​	December 31,
Interest Rate Derivatives		2020		2019		2020			2019
Interest rate swap		16		15	​	$	505,000	​	$	440,000

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below presents the estimated fair value of the Company’s derivative financial instruments as well as their classification in the consolidated balance sheets (in thousands).

​	​	​	​	​	​	​
​	​	Asset Derivatives
​	​	December 31, 2020		​	December 31, 2019
​		Fair Value			Fair Value
Derivatives designated as cash flow hedges:		​			​
Other Assets, net	​	$	2,286	​	$	572

​

​	​	​	​	​	​	​
​	​	Liability Derivatives
​	​	December 31, 2020		​	December 31, 2019
​		Fair Value			Fair Value
Derivatives designated as cash flow hedges:		​			​
Accounts Payable, Accrued Expenses and Other Liabilities	​	$	16,985	​	$	7,943

​

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The table below presents the effect of the Company’s derivative financial instruments in the consolidated statements of operations and other comprehensive loss for the years ended December 31, 2020, 2019 and 2018 (in thousands).

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Location of Income/(Loss)

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Amount of Income/(Loss)

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Amount of Income/(Loss) Recognized

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Reclassified from Accumulated

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Reclassified from Accumulated

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in OCI on Derivative

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OCI into Income

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OCI into Expense

Year Ended December 31,

2020

2019

2018

​

​

2020

2019

2018

Interest rate swaps

$

(34,558)

​

$

(8,657)

​

$

193

​

Interest expense

​

$

4,562

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$

(118)

​

$

(139)

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Offsetting Assets And Liabilities [Table Text Block]

Offsetting of Derivative Assets

As of December 31, 2020

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Gross Amounts

Net Amounts of

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Offset in the

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Assets presented

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Gross Amounts Not Offset in the

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Gross Amounts

Statement of

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in the Statement

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Statement of Financial Position

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of Recognized

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Financial

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of Financial

Financial

Cash Collateral

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Assets

Position

Position

Instruments

Received

Net Amount

Derivatives

​

$

2,286

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$

—

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$

2,286

​

$

(1,258)

​

$

—

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$

1,028

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Offsetting of Derivative Liabilities

As of December 31, 2020

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Net Amounts of

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Gross Amounts

Liabilities

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Offset in the

presented in the

Gross Amounts Not Offset in the

​

Gross Amounts

Statement of

Statement of

Statement of Financial Position

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of Recognized

Financial

Financial

Financial

Cash Collateral

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​

Liabilities

Position

Position

Instruments

Posted

Net Amount

Derivatives

​

$

16,985

​

$

—

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$

16,985

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$

(1,258)

​

$

—

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$

15,727

​

Offsetting of Derivative Assets

As of December 31, 2019

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Gross Amounts

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Net Amounts of

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Offset in the

Assets presented

Gross Amounts Not Offset in the

​

Gross Amounts

Statement of

in the Statement

Statement of Financial Position

​

of Recognized

Financial

of Financial

Financial

Cash Collateral

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​

​

Assets

Position

Position

Instruments

Received

Net Amount

Derivatives

​

$

572

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$

—

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$

572

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$

(572)

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$

—

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$

—

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Offsetting of Derivative Liabilities

As of December 31, 2019

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Net Amounts of

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Gross Amounts

Liabilities

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Offset in the

presented in the

Gross Amounts Not Offset in the

​

Gross Amounts

Statement of

Statement of

Statement of Financial Position

​

of Recognized

Financial

Financial

Financial

Cash Collateral

​

​

​

​

Liabilities

Position

Position

Instruments

Posted

Net Amount

Derivatives

​

$

7,943

​

$

—

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$

7,943

​

$

(572)

​

$

—

​

$

7,371

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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-Topic 815
-SubTopic 10
-Section 50
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