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Derivatives | 6 Months Ended
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Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives | Derivatives The Company's use of derivative financial instruments has historically been limited to the utilization of interest rate swaps, interest rate caps and foreign exchange contracts. The principal objective of such financial instruments is to minimize the risks and/or costs associated with the Company's operating and financial structure and to manage its exposure to interest rates and foreign exchange rates. The Company may have derivatives that are not designated as hedges because they do not meet the strict hedge accounting requirements. Although not designated as hedges, such derivatives are entered into to manage the Company's exposure to interest rate movements, foreign exchange rate movements and other identified risks. The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets ($ in thousands)(1):
| Derivative Assets as of |  | Derivative Liabilities as of
| June 30, 2018 |  | June 30, 2018
| Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives Designated in Hedging Relationships |  |  |  |
Interest rate swaps | Other assets |  | $ | 8,120 |  |  | Other liabilities |  | $ | (1,150 | )
Total |  |  | $ | 8,120 |  |  |  |  | $ | (1,150 | )
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(1) | The Company did not directly own any derivative financial instruments as of December 31, 2017. On June 30, 2018, the Company consolidated the Net Lease Venture (refer to Note 7), including all derivative financial instruments of the venture. Over the next 12 months, the Company expects that $0.4 million related to cash flow hedges will be reclassified from "Accumulated other comprehensive income (loss)" as a reduction to interest expense. As of June 30, 2018, the Company would not have been required to post any additional collateral to settle these contracts had the Company been declared in default on its derivative obligations.
The tables below present the effect of the Company's derivative financial instruments, including the Company's share of derivative financial instruments at certain of its equity method investments, in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) ($ in thousands):
Derivatives Designated in Hedging Relationships |  | Location of Gain (Loss) Recognized in Income |  | Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings
For the Three Months Ended June 30, 2018 |  |  |  |
Interest rate swaps |  | Earnings from equity method investments |  | $ | 1,157 |  |  | $ | 81 |
Interest rate swaps |  | Interest expense |  | (1,150 | ) |  | — |
For the Three Months Ended June 30, 2017 |  |  |  |
Interest rate swaps |  | Interest Expense |  | (44 | ) |  | 384 |
Interest rate cap |  | Earnings from equity method investments |  | (9 | ) |  | (9 | )
Interest rate swap |  | Earnings from equity method investments |  | (93 | ) |  | (62 | )
Foreign exchange contracts |  | Earnings from equity method investments |  | (70 | ) |  | — |
For the Six Months Ended June 30, 2018 |  |  |  |  |  |
Interest rate swaps |  | Earnings from equity method investments |  | 3,508 |  |  | 90 |
Interest rate swaps |  | Interest expense |  | (1,150 | ) |  | — |
For the Six Months Ended June 30, 2017 |  |  |  |  |  |
Interest rate swaps |  | Interest Expense |  | 424 |  |  | 355 |
Interest rate cap |  | Earnings from equity method investments |  | (14 | ) |  | (14 | )
Interest rate swap |  | Earnings from equity method investments |  | (15 | ) |  | (150 | )
Foreign exchange contracts |  | Earnings from equity method investments |  | (369 | ) |  | — |
|  | Location of Gain (Loss) Recognized in Income |  | Amount of Gain (Loss) Recognized in Income
Derivatives not Designated in Hedging Relationships |  |  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Interest rate cap |  | Other Expense |  | $ | — |  |  | $ | (41 | ) |  | $ | — |  |  | $ | 6 |
Foreign exchange contracts |  | Other Expense |  | — |  |  | (645 | ) |  | — |  |  | (769 | )
During the six months ended June 30, 2017, the Company entered into and settled a rate lock swap in connection with the 2017 Secured Financing and a simultaneous rate lock swap with SAFE. As a result of the settlements, the Company initially recorded a $0.4 million unrealized gain in “Accumulated other comprehensive income” on the Company’s consolidated balance sheets and subsequently derecognized the gain when third parties acquired a controlling interest in the Company's Ground Lease business (refer to Note 4).

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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