XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.19.1

Derivatives | 3 Months Ended
--- | ---
Mar. 31, 2019
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 as of March 31, 2019 and December 31, 2018 ($ in thousands)(1):
|  | Derivative Assets |  | Derivative Liabilities
As of March 31, 2019 |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives Designated in Hedging Relationships |  |  |  |
Interest rate swaps |  | Deferred expenses and other assets, net |  | $ | 2,279 |  |  | Accounts payable, accrued expenses and other liabilities |  | $ | 14,297 |
Total |  |  |  | $ | 2,279 |  |  |  |  | $ | 14,297 |
|  | Derivative Assets |  | Derivative Liabilities
As of December 31, 2018 |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives Designated in Hedging Relationships |  |  |  |
Interest rate swaps |  | Deferred expenses and other assets, net |  | $ | 3,669 |  |  | Accounts payable, accrued expenses and other liabilities |  | $ | 10,244 |
Total |  |  |  | $ | 3,669 |  |  |  |  | $ | 10,244 |
_________________________________________________________
(1) | Over the next 12 months, the Company expects that $2.8 million related to cash flow hedges will be reclassified from "Accumulated other comprehensive income (loss)" as a reduction to interest expense. As of March 31, 2019 and December 31, 2018, the Company posted cash collateral of $10.7 million and $6.4 million, respectively, in connection with its derivatives which were in a liability position and would not have been required to post any additional collateral to settle these contracts had the Company been declared in default on its derivative obligations.
The tables below present the effect of the Company's derivative financial instruments, including the Company's share of derivative financial instruments at certain of its equity method investments, in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) ($ in thousands):
Derivatives Designated in Hedging Relationships |  | Location of Gain (Loss) When 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 March 31, 2019 |  |  |  |
Interest rate swaps |  | Earnings from equity method investments |  | $ | (7,190 | ) |  | $ | 144 |
Interest rate swaps |  | Interest expense |  | (7,822 | ) |  | (151 | )
For the Three Months Ended March 31, 2018 |  |  |  |
Interest rate swaps |  | Earnings from equity method investments |  | 2,351 |  |  | (9 | )

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration