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Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | During the nine months ended September 30, 2018 and 2017, we entered into interest rate derivatives as summarized in the table below:
| Nine Months Ended September 30,
Interest rate caps: | 2018 |  | 2017
Notional amount (in thousands) | $ | 685,000 |  |  | $ | 659,500 |
Strike rate low end of range | 2.43 | % |  | 3.00 | %
Strike rate high end of range | 7.80 | % |  | 5.35 | %
Effective date range | February 2018 - May 2018 |  |  | January 2017 - August 2017 |
Maturity date range | March 2019 - June 2020 |  |  | March 2018 - September 2019 |
Total cost of interest rate cap (in thousands) | $ | 348 |  |  | $ | 347 |
Interest rate floors: |  |  |
Notional amount (in thousands) | $ | 4,000,000 |  |  | $ | 1,600,000 |
Strike rate low end of range | 1.38 | % |  | 1.00 | %
Strike rate low end of range | 2.00 | % |  | 1.00 | %
Effective date | July 2018 |  |  | September 2017 |
Maturity date range | June 2019 - September 2019 |  |  | December 2018 |
Total cost of interest rate floors (in thousands) | $ | 138 |  |  | $ | 65 |
_______________ No instruments were designated as cash flow hedges As of September 30, 2018, we held interest rate instruments as summarized in the table below:
Interest rate caps: (1) |  |
Notional amount (in thousands) |  | $ | 1,393,200 |
Strike rate low end of range |  | 2.43 | %
Strike rate low end of range |  | 11.61 | %
Effective date range |  | January 2017 - May 2018 |
Maturity date range |  | November 2018 - June 2020 |
Aggregate principal balance on corresponding mortgage loans (in thousands) |  | $ | 993,334 |
Interest rate floors: (1) (2) |  |
Notional amount (in thousands) |  | $ | 10,850,000 |
Strike rate low end of range |  | (0.25 | )%
Strike rate low end of range |  | 2.00 | %
Effective date range |  | July 2015 - July 2018 |
Maturity date range |  | March 2019 - July 2020 |
_______________
(1) | No instruments were designated as cash flow hedges.
(2) | Cash collateral is posted by us as well as our counterparties. We offset the fair value of the derivative and the obligation/right to return/reclaim cash collateral.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + 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 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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