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Derivative Instruments
 3 Months Ended
Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
Derivative Instruments
The Company uses forward currency contracts to economically hedge interest and principal payments due under its loans denominated in currencies other than U.S. dollars.
The Company has not designated any of its derivative instruments as hedges under GAAP and therefore, changes in the fair value of the Company's derivative instruments are recorded directly in earnings. The following table summarizes the amounts recognized on the condensed consolidated statements of operations related to the Company’s derivatives for the three months ended March 31, 2016 and 2015.
 
 
 
 
Three months ended March 31,
 
Location of Loss Recognized in Income
 
2016
 
2015
Forward currency contract
Gain (loss) on derivative instruments - unrealized
 
(1,310
)
 
(3,044
)
Forward currency contract
Gain (loss) on derivative instruments - realized
 
6,083

 
6,666

Interest rate caps
Loss on derivative instruments - unrealized
 
(70
)
 
—

Total
 
 
$
4,703

 
$
3,622



The following table summarizes the gross asset amounts related to the Company's derivative instruments at March 31, 2016 and December 31, 2015.

 
March 31, 2016
 
December 31, 2015
 
Gross
Amount of
Recognized
Assets
 
Gross
Amounts
Offset in the
Consolidated Balance Sheet
 
Net Amounts
of Assets
Presented in
the Consolidated Balance Sheet
 
Gross
Amount of
Recognized
Assets
 
Gross
Amounts
Offset in the
Consolidated Balance Sheet
 
Net Amounts
of Assets
Presented in
the Consolidated Balance Sheet
Interest rate caps
$
36

 
$
—

 
36

 
$
106

 
$
—

 
106

Forward currency contract
$
2,586

 
$
(684
)
 
1,902

 
$
3,221

 
$
—

 
3,221

Total derivative instruments
$
2,622

 
$
(684
)
 
$
1,938

 
$
3,327

 
$
—

 
$
3,327