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Derivatives | 3 Months Ended
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Mar. 31, 2020
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 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, 2020 and December 31, 2019 ($ in thousands)(1):
|  | Derivative Assets |  | Derivative Liabilities
As of March 31, 2020 |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives Designated in Hedging Relationships |  |  |  |
Interest rate swaps |  | Deferred expenses and other assets, net |  | $ | — |  |  | Accounts payable, accrued expenses and other liabilities |  | $ | 20,685 |
Total |  |  |  | $ | — |  |  |  |  | $ | 20,685 |
|  | Derivative Assets |  | Derivative Liabilities
As of December 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 |  | $ | 114 |  |  | Accounts payable, accrued expenses and other liabilities |  | $ | 8,680 |
Total |  |  |  | $ | 114 |  |  |  |  | $ | 8,680 |
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(1) | Over the next 12 months, the Company expects that $8.8 million related to cash flow hedges will be reclassified from "Accumulated other comprehensive income (loss)" as an increase to interest expense.
The tables below present the effect of the Company's derivative financial instruments, including the Company's share of derivative financial instruments at certain of its equity method investments, in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) ($ 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, 2020 |  |  |  |
Interest rate swaps |  | Earnings from equity method investments |  | $ | (15,172 | ) |  | $ | (226 | )
Interest rate swaps |  | Interest expense |  | (12,604 | ) |  | (1,088 | )
For the Three Months Ended March 31, 2019 |  |  |  |
Interest rate swaps |  | Interest Expense |  | (7,822 | ) |  | (151 | )
Interest rate swaps |  | Earnings from equity method investments |  | (7,190 | ) |  | 144 |

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- References No definition available. + Details
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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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