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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING (Tables) | 6 Months Ended
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Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative financial instruments | Information about our derivative financial instruments at June 30, 2018 and December 31, 2017 is as follows (dollars in thousands):
|  |  |  |  |  | Notional Amount |  | Fair Value
Contract date |  | Effective Date |  | Expiration Date |  | June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017
September 5, 2013 |  | January 2, 2014 |  | October 1, 2018 |  | $ | 75,000 |  | (1) | $ | 75,000 |  |  | $ | 14 |  |  | $ | (190 | )
October 2, 2017 |  | January 29, 2018 |  | January 31, 2023 |  | 100,000 |  | (2) | 100,000 |  |  | 3,231 |  |  | 722 |
October 2, 2017 |  | January 29, 2018 |  | January 31, 2023 |  | 100,000 |  | (2) | 100,000 |  |  | 3,299 |  |  | 787 |
June 11, 2018 |  | September 28, 2018 |  | September 30, 2024 |  | 75,000 |  | (3) | — |  |  | (347 | ) |  | — |
June 11, 2018 |  | December 31, 2018 |  | December 31, 2025 |  | 125,000 |  | (4) | — |  |  | (772 | ) |  | — |
|  |  |  |  |  | $ | 475,000 |  |  | $ | 275,000 |  |  | $ | 5,425 |  |  | $ | 1,319 |
(1) | Interest rate swap is related to a portion of our 2016 Unsecured Credit Facility and converts LIBOR from a floating rate to an average annual fixed rate of 2.04%.
(2) | Interest rate swap partially fixes the interest rate on a portion of our variable interest rate unsecured indebtedness and converts LIBOR from a floating rate to an average annual fixed rate of 1.98%.
(3) | Interest rate swap partially fixes the interest rate on a portion of our variable interest rate unsecured indebtedness and converts LIBOR from a floating rate to an average annual fixed rate of 2.87%.
(4) | Interest rate swap partially fixes the interest rate on a portion of our variable interest rate unsecured indebtedness and converts LIBOR from a floating rate to an average annual fixed rate of 2.93%.
Schedule of the location in the financial statements of the gain or loss recognized on derivative financial instruments designated as cash flow hedges | The table below details the location in the financial statements of the gain or loss recognized on derivative financial instruments designated as cash flow hedges (in thousands):
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Gain(loss) recognized in Accumulated other comprehensive income on derivative financial instruments |  | $ | 309 |  |  | $ | (22 | ) |  | $ | 3,846 |  |  | $ | 90 |
Loss reclassified from Accumulated other comprehensive income to Interest expense |  | $ | (53 | ) |  | $ | (196 | ) |  | $ | (260 | ) |  | $ | (433 | )

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 + Details
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