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Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

The following is a summary of our interest rate swaps that were designated as cash flow hedges of interest rate risk as of September 30, 2019 and December 31, 2018 (notional amounts in thousands):

	September 30, 2019				December 31, 2018
Count	9				12
Notional amount	$	1,402,000			$	1,687,000
Fixed LIBOR	0.8% - 2.9%				0.7% - 2.9%
Maturity date	2020 - 2025				2019 - 2025

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The table below details the nature of the gain or loss recognized on interest rate derivatives designated as cash flow hedges in the consolidated statements of operations (in thousands):

	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2019				2018				2019				2018
Amount of (loss) gain recognized in other comprehensive income on derivatives(1)	$	(9,193	)		$	4,061			$	(44,398	)		$	23,107
Amount of gain reclassified from AOCI into interest expense(1)	(538		)		(1,192		)		(3,339		)		(1,895		)

⁽¹⁾  Changes in value are solely driven from changes in LIBOR futures as a result of various economic factors.

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- References

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- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ 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 (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ 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
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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