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Derivatives, Net | 6 Months Ended
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Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives, Net | Derivatives, Net 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 and Euro) for an agreed upon amount of U.S. dollars at various dates through November 2020. 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 the Company's non-designated foreign exchange (“Fx”) forwards as of June 30, 2018:
Type of Derivative | June 30, 2018
| Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity
Fx Contracts - GBP | 40 |  | 314,226 |  | GBP |  | July 2018 - November 2020
Fx Contracts - EUR | 1 |  | 42,247 |  | EUR |  | October 2018
The following table summarizes the Company's non-designated Fx forwards as of December 31, 2017:
Type of Derivative | December 31, 2017
| Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity
Fx Contracts - GBP | 24 |  | 177,077 |  | GBP |  | January 2018- November 2020
The Company has not designated any of its derivative instruments as hedges as defined in ASC 815, Derivatives and Hedging 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 and six months ended June 30, 2018 and 2017 ($ in thousands):
|  |  | Amount of gain (loss) recognized in income |  | Amount of gain (loss) recognized in income
|  |  | Three months ended June 30, |  | Six months ended June 30,
| Location of Gain (Loss) Recognized in Income |  | 2018 |  | 2017 |  | 2018 |  | 2017
Forward currency contracts | Gain (loss) on derivative instruments - unrealized |  | $ | 24,800 |  |  | $ | (7,438 | ) |  | $ | 15,941 |  |  | $ | (10,321 | )
Forward currency contracts | Gain (loss) on derivative instruments - realized |  | 8,742 |  |  | 46 |  |  | 6,565 |  |  | (110 | )
Interest rate caps (1) | Gain (loss) on derivative instruments - unrealized |  | (4 | ) |  | 3 |  |  | — |  |  | (3 | )
Total |  |  | $ | 33,538 |  |  | $ | (7,389 | ) |  | $ | 22,506 |  |  | $ | (10,434 | )
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(1) | With a notional amount of $37.5 million and $42.8 million at June 30, 2018, and 2017, respectively.
The following table summarizes the gross asset and liability amounts related to the Company’s derivatives at June 30, 2018 and December 31, 2017 ($ in thousands).
| June 30, 2018 |  | December 31, 2017
| Gross Amount of Recognized Assets |  | Gross Amounts Offset in the Condensed Consolidated Balance Sheet |  | Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheet |  | Gross Amount of Recognized Liabilities |  | Gross Amounts Offset in the Condensed Consolidated Balance Sheet |  | Net Amounts of Assets (Liabilities) Presented in the Condensed Consolidated Balance Sheet
Interest rate caps | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1 |
Forward currency contracts | 11,409 |  |  | (1,113 | ) |  | 10,296 |  |  | (5,645 | ) |  | — |  |  | (5,645 | )
Total derivative instruments | $ | 11,410 |  |  | $ | (1,113 | ) |  | $ | 10,297 |  |  | $ | (5,645 | ) |  | $ | 1 |  |  | $ | (5,644 | )

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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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