Interest rate hedge agreements (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding interest rate hedge agreements designated as cash flow hedges of interest rate risk

We had the following outstanding interest rate hedge agreements that were designated as cash flow hedges of interest rate risk as of March 31, 2018 (dollars in thousands):

		Number of Contracts	Weighted-Average Interest Pay Rate(1)	Fair Value  as of 3/31/18		Notional Amount in Effect as of
Effective Date	Maturity Date					3/31/18		12/31/18		12/31/19
March 29, 2018	March 31, 2019	8	1.16%	$	5,813	$	600,000	$	600,000	$	—
March 29, 2019	March 31, 2020	1	1.89%	648		—		—		100,000
Total				$	6,461	$	600,000	$	600,000	$	100,000

(1) In addition to the interest pay rate for each swap agreement, interest is payable at an applicable margin over LIBOR for borrowings outstanding as of March 31, 2018, as listed under the column heading “Stated Rate” in our summary table of outstanding indebtedness and respective principal payments under Note 9 – “Secured and Unsecured Senior Debt” to these unaudited consolidated financial statements.