Derivative Financial Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

As of March 31, 2020,

we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (in thousands, except number of instruments):

Interest Rate Swaps	March 31, 2020
Number of instruments	9
Notional amount	$	725,000

The table below presents the fair value of our derivative financial instruments designated as cash flow hedges as well as the classification in the accompanying condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019, respectively (in thousands):

	Asset Derivatives					Liability Derivatives
		Fair Value at:					Fair Value at:
Derivatives Designated as Hedging Instruments:	Balance Sheet Location	March 31, 2020		December 31, 2019		Balance Sheet Location	March 31, 2020		December 31, 2019
Interest rate swaps	Receivables and other assets	$	—	$	3,011	Derivative financial instruments	$	19,480	$	29

The table below presents the gain or loss recognized on our derivative financial instruments designated as cash flow hedges as well as the classification in the accompanying condensed consolidated statements of operations for the three months ended March 31, 2020 and 2019, respectively (in thousands):

	Gain (Loss) Recognized in OCI on Derivative					Gain (Loss) Reclassified from Accumulated OCI into Income
	Three Months Ended March 31,					Three Months Ended March 31,
Derivatives Cash Flow Hedging Relationships:	2020		2019		Statement of Operations Location	2020		2019
Interest rate swaps	$	(22,153)	$	(21)	Interest expense	$	345	$	369