Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivative Instruments

As of March 31, 2019 and December 31, 2018, we had the following outstanding interest rate derivatives that were designated as effective cash flow hedges of interest rate risk (in thousands):



Notional Amount										Fair Value at Significant Other Observable Inputs (Level 2)
As of March 31, 2019			As of December 31, 2018			Type of Derivative	Strike Rate	Effective Date	Expiration Date	As of March 31, 2019 ⁽³⁾		As of December 31, 2018 ⁽³⁾
Currently-paying contracts
$	206,000	⁽¹⁾	$	206,000	⁽¹⁾	Swap	1.611	Jun 15, 2017	Jan 15, 2020	$	1,311	$	1,976
54,905		⁽¹⁾	54,905		⁽¹⁾	Swap	1.605	Jun 6, 2017	Jan 6, 2020	343		517
75,000		⁽¹⁾	75,000		⁽¹⁾	Swap	1.016	Apr 6, 2016	Jan 6, 2021	1,636		2,169
75,000		⁽¹⁾	75,000		⁽¹⁾	Swap	1.164	Jan 15, 2016	Jan 15, 2021	1,456		1,970
300,000		⁽¹⁾	300,000		⁽¹⁾	Swap	1.435	Jan 15, 2016	Jan 15, 2023	7,809		11,463
73,786		⁽²⁾	72,220		⁽²⁾	Swap	0.779	Jan 15, 2016	Jan 15, 2021	1,434		2,024
$	784,691		$	783,125						$	13,989	$	20,119


(1)	Represents debt which bears interest based on one-month U.S. LIBOR.


(2)	Represents debt which bears interest based on one-month CDOR. Translation to U.S. dollars is based on exchange rates of $0.75 to 1.00 CAD as of March 31, 2019 and $0.73 to 1.00 CAD as of December 31, 2018.


(3)	Balance recorded in other assets in the consolidated balance sheets if positive and recorded in accounts payable and other accrued liabilities in the consolidated balance sheets if negative.

- 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.

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+ Details