XML 63 R48.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Financial Instruments: Derivatives and Hedging (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional and fair value of derivative financial instruments and foreign currency hedges | The following table summarizes the notional value at inception and fair value of our consolidated derivative financial instruments at September 30, 2018 based on Level 2 information. The notional value is an indication of the extent of our involvement in these instruments at that time, but does not represent exposure to credit, interest rate or market risks (amounts in thousands).
| Notional Value |  | Strike Rate |  | Effective Date |  | Expiration Date |  | Balance Sheet Location |  | Fair Value
Interest Rate Swap | $ | 200,000 |  |  | 1.131 | % |  | July 2016 |  | July 2023 |  | Other Assets |  | $ | 15,924 |
Interest Rate Swap | 100,000 |  |  | 1.161 | % |  | July 2016 |  | July 2023 |  | Other Assets |  | 7,829 |
Interest Rate Cap | 137,500 |  |  | 4.000 | % |  | September 2017 |  | September 2019 |  | Other Assets |  | 1 |
Interest Rate Swap | 100,000 |  |  | 1.928 | % |  | December 2017 |  | November 2020 |  | Other Assets |  | 1,901 |
Interest Rate Swap | 100,000 |  |  | 1.934 | % |  | December 2017 |  | November 2020 |  | Other Assets |  | 1,892 |
|  |  |  |  |  |  |  |  |  |  | $ | 27,547 |
Schedule of effect of derivative financial instruments on consolidated statements of income | The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of operations for the three months ended September 30, 2018 and 2017, respectively (in thousands):
|  | Amount of Gain (Loss) Recognized in Other Comprehensive Loss (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) |  | Location of Gain (Loss) Recognized in Income on Derivative |  | Amount of Gain (Loss) Recognized into Income (Ineffective Portion)
|  | Three Months Ended September 30, |  |  | Three Months Ended September 30, |  |  | Three Months Ended September 30,
Derivative |  | 2018 |  | 2017 |  |  | 2018 |  | 2017 |  |  | 2018 |  | 2017
Interest Rate Swaps/Caps |  | $ | 2,207 |  |  | $ | (304 | ) |  | Interest expense |  | $ | 295 |  |  | $ | (85 | ) |  | Interest expense |  | $ | 19 |  |  | $ | 4 |
Share of unconsolidated joint ventures' derivative instruments |  | 2,263 |  |  | (290 | ) |  | Equity in net income from unconsolidated joint ventures |  | 238 |  |  | (185 | ) |  | Equity in net income from unconsolidated joint ventures |  | 16 |  |  | (48 | )
|  | $ | 4,470 |  |  | $ | (594 | ) |  |  |  | $ | 533 |  |  | $ | (270 | ) |  |  |  | $ | 35 |  |  | $ | (44 | )
The following table presents the effect of our derivative financial instruments and our share of our joint ventures' derivative financial instruments that are designated and qualify as hedging instruments on the consolidated statements of operations for the nine months ended September 30, 2018 and 2017, respectively (in thousands):
|  | Amount of Gain (Loss) Recognized in Other Comprehensive Loss (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) |  | Location of Gain (Loss) Recognized in Income on Derivative |  | Amount of Gain (Loss) Recognized into Income (Ineffective Portion)
|  | Nine Months Ended September 30, |  |  | Nine Months Ended September 30, |  |  | Nine Months Ended September 30,
Derivative |  | 2018 |  | 2017 |  |  | 2018 |  | 2017 |  |  | 2018 |  | 2017
Interest Rate Swaps/Caps |  | $ | 12,605 |  |  | $ | (5,477 | ) |  | Interest expense |  | $ | 42 |  |  | $ | (1,583 | ) |  | Interest expense |  | $ | 7 |  |  | $ | (4 | )
Share of unconsolidated joint ventures' derivative instruments |  | 6,668 |  |  | (1,277 | ) |  | Equity in net income from unconsolidated joint ventures |  | 392 |  |  | (876 | ) |  | Equity in net income from unconsolidated joint ventures |  | (103 | ) |  | (109 | )
|  | $ | 19,273 |  |  | $ | (6,754 | ) |  |  |  | $ | 434 |  |  | $ | (2,459 | ) |  |  |  | $ | (96 | ) |  | $ | (113 | )

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=84234895&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=84234895&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 pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959 Reference 2: 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=84234895&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959 Reference 7: 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=84234895&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration