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Derivative Instruments | 12 Months Ended
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Dec. 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 entered into a series of forward contracts to sell an amount of foreign currency (British pound ("GBP")) for an agreed upon amount of U.S. dollars at various dates through December 2017. These forward contracts were executed to economically fix the U.S. dollar amounts of foreign denominated cash flows expected to be received by the Company related to foreign denominated loan investments. The following table summarizes our non-designated foreign exchange (“Fx”) forwards as of December 31, 2016 :
Type of Derivative | 12/31/16
| Number of Contracts |  | Aggregate Notional Amount |  | Notional Currency |  | Maturity
Fx Contracts - GBP | 11 |  | 148,310 |  | GBP |  | January 2017- December 2017
The following table summarizes our non-designated foreign exchange (“Fx”) forwards as of December 31, 2015 :
Type of Derivative | 12/31/15
| Number of Contracts |  | Aggregate Notional Amount |  | Notional Currency |  | Maturity
Fx Contracts - GBP | 5 |  | 130,272 |  | GBP |  | January 2016- October 2016
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 consolidated statements of operations related to the Company’s derivatives for the years ended December 31, 2016, 2015 and 2014.
|  |  | Amount of gain (loss) recognized in income
| Location of Gain (Loss) Recognized in Income |  | 2016 |  | 2015 |  | 2014
Forward currency contract | Gain (loss) on derivative instruments - unrealized |  | 2,665 |  |  | (853 | ) |  | 4,070 |
Forward currency contract | Gain (loss) on derivative instruments - realized |  | 28,552 |  |  | 5,169 |  |  | — |
Interest rate caps (1) | Gain (loss) on derivative instruments - unrealized |  | (57 | ) |  | (210 | ) |  | — |
Total |  |  | $ | 31,160 |  |  | $ | 4,106 |  |  | $ | 4,070 |
(1) | With a notional amount of $45,475 and $49,323 at December 31, 2016 and 2015, respectively.
The following table summarizes the gross asset and liability amounts related to the Company’s derivatives at December 31, 2016 and 2015.
| December 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 | $ | 23 |  |  | $ | — |  |  | $ | 23 |  |  | $ | 106 |  |  | $ | — |  |  | $ | 106 |
Forward currency contract | 5,883 |  |  | — |  |  | 5,883 |  |  | 3,221 |  |  | — |  |  | 3,221 |
Total derivative instruments | $ | 5,906 |  |  | $ | — |  |  | $ | 5,906 |  |  | $ | 3,327 |  |  | $ | — |  |  | $ | 3,327 |

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