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Derivative instruments (Tables)
 3 Months Ended
Mar. 31, 2013
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Company's Derivative Instruments, Weighted Average Maturities and Interest Rates

The Company’s derivative instruments consist of the following at March 31, 2013 and December 31, 2012:

 

        March 31, 2013     December 31, 2012  
    Balance Sheet Location   Notional
Value		     Estimated
Fair Value		     Notional
Value		     Estimated Fair
Value		  

Interest rate swaps

   Derivative instruments   $ 66,895      $ (84 )    $ 80,881      $ (156 ) 

Interest rate caps

   Derivative instruments     209,620 *      1        203,248 *      1   
     

 

 

      

 

 

  

Total derivative instruments

       $ (83 )      $ (155 ) 
     

 

 

      

 

 

  

 

* Represents the notional values at March 31, 2013 and December 31, 2012 but does not include forward-starting notionals.
Summary of Amounts Recognized on Consolidated Statements of Operations Related to Company's Derivatives

The following table summarizes the amounts recognized on the consolidated statements of operations related to the Company’s derivatives for the three months ended March 31, 2013 and 2012.

 

          Amount of loss recognized in income  
    

Location of Loss Recognized in Income

    2013     2012  

Interest rate swaps

    Loss on derivative instruments – realized *    $ (72 )    $ (412 ) 

Interest rate swaps

    Gain on derivative instruments – unrealized      72        147   

Interest rate caps

    Loss on derivative instruments - unrealized      —          (152 ) 
     

 

 

    

 

 

  

Total

       $ —        $ (417 ) 
     

 

 

    

 

 

  

 

* Realized losses represent net amounts accrued for the Company’s derivative instruments during the period.
Summarizes Gross Asset and Liability Amounts Related to Derivatives

The following table summarizes the gross asset and liability amounts related to the Company’s derivatives at March 31, 2013 and December 31, 2012.

 

     March 31, 2013     December 31, 2012  
     Gross
Amount of
Assets
Recognized
as
Liabilities		      Gross
Amounts
Offset in the
Statement
of Financial
Position		     Net Amounts
of Liabilities
Presented in
the Statement
of Financial
Position		     Gross
Amount of
Assets
Recognized
as
Liabilities		      Gross
Amounts
Offset in the
Statement
of Financial
Position		     Net Amounts
of Liabilities
Presented in
the Statement
of Financial
Position		  

Interest rate swaps

    $ -       $ (84 )    $ (84 )    $ -       $ (156 )    $ (156 ) 

Interest rate caps

      1         -        1        1         -        1   
  

 

 

     

 

 

    

 

 

    

 

 

     

 

 

    

 

 

  

Total derivative instruments

    $ 1       $ (84 )    $ (83 )    $ 1       $ (156 )    $ (155 )