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Derivative Financial Instruments | 9 Months Ended
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Sep. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | NOTE 5: Derivative Financial Instruments The following table summarizes the aggregate notional amount and estimated net fair value of our derivative instruments as of September 30, 2019 and December 31, 2018:
|  | As of September 30, 2019 |  |  | As of December 31, 2018 |
|  | Notional |  |  | Fair Value of Assets |  |  | Fair Value of Liabilities |  |  | Notional |  |  | Fair Value of Assets |  |  | Fair Value of Liabilities |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  | $ | 150,000 |  |  | $ | 982 |  |  | $ | — |  |  | $ | 150,000 |  |  | $ | 4,751 |  |  | $ | — |
Interest rate collars |  |  | 250,000 |  |  |  | — |  |  |  | 6,617 |  |  |  | 250,000 |  |  |  | 3,556 |  |  |  | — |
Forward interest rate swap |  |  | — |  |  |  | — |  |  |  | 5,798 |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 400,000 |  |  | $ | 982 |  |  | $ | 12,415 |  |  | $ | 400,000 |  |  | $ | 8,307 |  |  | $ | — |
Forward interest rate swap On May 9, 2019, we entered into a forward-starting interest rate swap contract with a notional value of $150,000 and a strike of 2.176%. The forward interest rate swap has an effective date of June 17, 2021 and a maturity date of June 17, 2026. We designated this forward interest rate swap as a cash flow hedge at inception and determined that the hedge is highly effective in offsetting interest rate fluctuations associated with the identified indebtedness. Effective interest rate swaps and caps are reported in accumulated other comprehensive income, and the fair value of these hedge agreements is included in other assets or other liabilities. For our interest rate swap and collars that are considered highly effective hedges, we reclassified realized gains of $251 and $1,277 to earnings within interest expense for the three and nine months ended September 30, 2019, respectively, and we expect $370 to be reclassified out of accumulated other comprehensive income to earnings over the next 12 months.

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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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