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Derivatives (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative financial instruments on consolidated balance sheet

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, 2022 and December 31, 2021 ($ in thousands):⁽¹⁾

​	​	​	​	​	​
​		Derivative Liabilities
​	​	Balance Sheet	​	Fair
As of March 31, 2022		Location		Value
Derivatives Designated in Hedging Relationships	​	​	​	​	​
Interest rate swaps		Liabilities associated with real estate held for sale and classified as discontinued operations	​	$	—
Total			​	$	—
​	​	​	​	​	​
As of December 31, 2021			​
Derivatives Designated in Hedging Relationships			​
Interest rate swaps		Liabilities associated with real estate held for sale and classified as discontinued operations	​	$	8,395
Total			​	$	8,395

(1) Over the next 12 months, the Company expects that $2.6 million related to its proportionate share of cash flow hedges held by SAFE will be reclassified from “Accumulated other comprehensive income (loss)” as a decrease to earnings from equity method investments.

Schedule of derivative financial instruments on consolidated statements of operations and comprehensive income

The table below presents 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):

​	​	​	​	​	​	​	​	​
​		​		Amount of Gain			Amount of Gain
​	​	Location of Gain	​	(Loss) Recognized in		​	(Loss) Reclassified
​	​	(Loss)	​	Accumulated Other		​	from Accumulated
Derivatives Designated in	​	When Recognized in	​	Comprehensive		​	Other Comprehensive
Hedging Relationships		Income		Income			Income into Earnings
For the Three Months Ended March 31, 2022	​	​	​	​	​	​	​	​
Interest rate swaps		Earnings from equity method investments	​		2,755	​		(621)
For the Three Months Ended March 31, 2021			​			​
Interest rate swaps		Net income from discontinued operations	​	$	3,335	​	$	(2,104)
Interest rate swaps		Earnings from equity method investments	​		8,638	​		(234)

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
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-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 4C
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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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