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Fair Value of Derivative Financial Instruments | 6 Months Ended
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Jun. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS | 9. FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS The following table summarizes the terms and fair values of the Company’s derivative financial instruments as of June 30, 2016 and December 31, 2015. The notional amounts provide an indication of the extent of the Company’s involvement in these instruments at that time, but do not represent exposure to credit, interest rate or market risks (amounts presented in thousands and included in other liabilities on the Company’s consolidated balance sheets).
Hedge Product |  | Hedge Type |  | Designation |  | Notional Amount |  |  | Strike |  |  | Trade Date |  | Maturity Date |  | Fair value |
|  |  |  |  |  | 6/30/2016 |  |  | 12/31/2015 |  |  |  |  |  |  |  |  |  |  | 6/30/2016 |  |  | 12/31/2015 |
(Liabilities) / Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Swap |  | Interest Rate |  | Cash Flow | (a) | $ | 250,000 |  |  | $ | 250,000 |  |  |  | 3.718 | % |  | October 8, 2015 |  | October 8, 2022 |  | $ | (9,909 | ) |  | $ | 1,884 |
Swap |  | Interest Rate |  | Cash Flow | (a) |  | 25,774 |  |  |  | 25,774 |  |  |  | 3.300 | % |  | December 22, 2011 |  | January 30, 2021 |  |  | (1,351 | ) |  |  | (531 | )
Swap |  | Interest Rate |  | Cash Flow | (a) |  | 25,774 |  |  |  | 25,774 |  |  |  | 3.090 | % |  | January 6, 2012 |  | October 30, 2019 |  |  | (914 | ) |  |  | (388 | )
Swap |  | Interest Rate |  | Cash Flow | (a) |  | 27,062 |  |  |  | 27,062 |  |  |  | 2.750 | % |  | December 21, 2011 |  | September 30, 2017 |  |  | (279 | ) |  |  | (201 | )
|  |  |  |  |  | $ | 328,610 |  |  | $ | 328,610 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(a) | Hedging unsecured variable rate debt.
The Company measures its derivative instruments at fair value and records them in the balance sheet as either an asset or liability. As of June 30, 2016, all swaps are included in other liabilities on the Company’s consolidated balance sheet. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.

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