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Derivative Instruments (Tables) | 12 Months Ended
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Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of interest rate swap contracts | During the year ended December 31, 2019, the Company entered into the following hedging instruments:
Derivative Instrument |  | Date Effective |  | Notional Amount |  | Fixed Leg (Pay) Interest Rate |  | Indexed To |  | Scheduled Maturity
Interest rate swap |  | June 20, 2019 |  | $75.0 million |  | 1.84% |  | 1 month LIBOR |  | June 20, 2026
Interest rate swap |  | June 20, 2019 |  | $75.0 million |  | 1.83% |  | 1 month LIBOR |  | June 20, 2026
Interest rate swap |  | November 29, 2019 |  | $200.0 million |  | 1.57% |  | 1 month LIBOR |  | November 30, 2029
Interest rate swap |  | November 29, 2019 |  | $100.0 million |  | 1.55% |  | 1 month LIBOR |  | November 30, 2029
Interest rate swap |  | November 29, 2019 |  | $100.0 million |  | 1.57% |  | 1 month LIBOR |  | November 30, 2029
Forward starting interest rate swap |  | April 15, 2020 |  | $100.0 million |  | 1.84% |  | 1 month LIBOR |  | April 15, 2027
Forward starting interest rate swap |  | April 15, 2020 |  | $100.0 million |  | 1.83% |  | 1 month LIBOR |  | April 15, 2027
Forward starting interest rate swap |  | September 30, 2024 |  | $100.0 million |  | 1.68% |  | 1 month LIBOR |  | September 30, 2029
Forward starting interest rate swap |  | September 30, 2024 |  | $100.0 million |  | 1.74% |  | 1 month LIBOR |  | September 30, 2029
Forward starting interest rate swap |  | September 30, 2024 |  | $150.0 million |  | 1.72% |  | 1 month LIBOR |  | September 30, 2029
Interest rate cap |  | June 20, 2019 |  | $200.0 million |  | n/a |  | 1 month LIBOR |  | December 20, 2021
During the year ended December 31, 2019, the Company canceled the following interest rate swaps:
Date Canceled |  | Notional Amount |  | Funds Paid
November 22, 2019 |  | $100.0 million |  | $3.9 million
November 22, 2019 |  | $100.0 million |  | $3.9 million
November 22, 2019 |  | $190.0 million |  | $14.5 million
As of December 31, 2019, the Company had interest rate swap and cap agreements in place to fix or limit the floating interest rates on a portion of the borrowings under its debt facilities summarized below:
Derivatives |  | Notional Amount |  | Weighted Average Fixed Leg (Pay) Interest Rate |  | Cap Rate |  | Weighted Average Remaining Term
Interest Rate Swap(1) |  | $1,799.2 million |  | 2.02% |  | n/a |  | 5.1 years
Interest Rate Cap |  | $200.0 million |  | n/a |  | 5.50% |  | 2.0 years
(1) | The impact of forward starting swaps with total notional amount of $550.0 million will increase the weighted average remaining term to 6.7 years.
Schedule of fair value of derivative instruments | The following table represents pre-tax amounts in accumulated other comprehensive income (loss) related to interest rate swap and cap agreements expected to be recognized in income over the next twelve months (in thousands):
| Year Ended December 31, 2019
Unrealized gain (loss) on derivative instruments designated as cash flow hedges | $ | (1,906 | )
Net gain (loss) on terminated derivative instruments designated as cash flow hedges | (3,621 | )
Schedule of derivatives instruments and their effect on consolidated statements of operations and consolidated statements of comprehensive income | The following table summarizes the impact of derivative instruments on the consolidated statements of operations and the consolidated statements of comprehensive income on a pretax basis (in thousands):
| Financial statement caption |  | Year Ended December 31,
Derivative instrument | 2019 |  | 2018 |  | 2017
Non-designated derivative instruments | Realized (gain) loss on derivative instruments, net |  | $ | (2,237 | ) |  | $ | (2,072 | ) |  | $ | 900 |
Non-designated derivative instruments | Unrealized (gain) loss on derivative instruments, net |  | 3,107 |  |  | 430 |  |  | (1,397 | )
Designated derivative instruments | Interest and debt (income) expense |  | (6,048 | ) |  | (6,780 | ) |  | 611 |
Designated derivative instruments | Comprehensive loss |  | 48,653 |  |  | 2,119 |  |  | 641 |
The fair value of derivative instruments on the Company's consolidated balance sheets as of December 31, 2019 and December 31, 2018 was as follows (in thousands):
| Asset Derivatives |  | Liability Derivatives
Derivative Instrument | December 31, 2019 |  | December 31, 2018 |  | December 31, 2019 |  | December 31, 2018
Interest rate hedges, designated | $ | 10,562 |  |  | $ | 10,531 |  |  | $ | 36,087 |  |  | $ | 10,966 |
Interest rate hedges, non-designated | 286 |  |  | 3,392 |  |  | — |  |  | — |
Total derivatives | $ | 10,848 |  |  | $ | 13,923 |  |  | $ | 36,087 |  |  | $ | 10,966 |

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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=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: 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 + Details
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