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Derivatives (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swaps

The following interest rate swaps, entered into to offset changes in expected cash flows due to fluctuations in the associated variable interest rates, were outstanding at March 31, 2020 (in millions):

​	​	​	​
Expiration Date		Notional Value
May 2020	​	$	100
March 2022	​		300
​	​	$	400

Effect of derivative instruments on consolidated financial position

The following table presents the effect of our derivative instruments designated as cash flow hedging instruments on our condensed consolidated balance sheets (in thousands):

​	​	​	​	​	​	​
​		March 31, 2020			December 31, 2019
Other current assets	​	$	—	​	$	12
Total derivative assets	​	$	—	​	$	12
​	​	​	​	​	​	​
Accrued liabilities	​	$	(4,317)	​	$	(593)
Other liabilities	​		(4,764)	​		(1,175)
Total derivative liabilities	​	$	(9,081)	​	$	(1,768)

Effect of derivative instruments on results of operations

The following tables present the effect of our derivative instruments designated as cash flow hedging instruments on our condensed consolidated statements of operations (in thousands):

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2020			2019
Pre-tax loss recognized in other comprehensive loss	​	$	(7,573)	​	$	(2,299)
Pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense	​		(248)	​		926
Total amount of interest expense in which the effects of cash flow hedges are recorded	​	​	29,665	​	​	23,617

​

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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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
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