Risk Management and Derivatives (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative financial instruments on consolidated balance sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2021 and 2020 ($ in thousands)⁽¹⁾:

	Derivative Liabilities
	Balance Sheet	Fair
As of December 31, 2021	Location	Value
Derivatives Designated in Hedging Relationships
Interest rate swaps	Liabilities associated with real estate held for sale and classified as discontinued operations	$	8,395
Total		$	8,395
As of December 31, 2020
Derivatives Designated in Hedging Relationships
Interest rate swaps	Liabilities associated with real estate held for sale and classified as discontinued operations	$	18,926
Total		$	18,926

(1) Over the next 12 months, the Company expects that $2.7 million related to cash flow hedges will be reclassified from “Accumulated other comprehensive income (loss)” as a decrease to earnings from equity method investments.

Schedule of derivative financial instruments on consolidated statements of operations and comprehensive income

The table below presents the effect of the Company’s derivative financial instruments, including the Company’s share of derivative financial instruments at certain of its equity method investments, in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) ($ in thousands):

		Amount of Gain		Amount of Gain
	Location of Gain	(Loss) Recognized in		(Loss) Reclassified
	(Loss)	Accumulated Other		from Accumulated
Derivatives Designated in	When Recognized in	Comprehensive		Other Comprehensive
Hedging Relationships	Income	Income		Income into Earnings
For the Year Ended December 31, 2021
Interest rate swaps	Net income from discontinued operations	$	4,748	$	(8,140)
Interest rate swaps	Earnings from equity method investments		8,638		(1,943)
For the Year Ended December 31, 2020
Interest rate swaps	Net income from discontinued operations	$	(14,940)	$	(6,974)
Interest rate swaps	Earnings from equity method investments		(13,350)		(1,101)
For the Year Ended December 31, 2019
Interest rate swaps	Net income from discontinued operations		(21,165)		(1,861)
Interest rate swaps	Earnings from equity method investments		(21,417)		(184)