Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of carrying values and fair values of debt instruments

The carrying values and fair values of debt instruments are as follows (in thousands):



	March 31, 2018				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Bank line of credit	$	247,000	$	247,000	$	247,000	$	247,000
Senior debt	899,979		899,710		808,455		807,698
Subordinated debt	112,232		111,094		111,488		111,095
Securitization debt	94,546		93,895		95,821		96,999
SREC Loans	30,272		30,272		32,181		32,181
Total	$	1,384,029	$	1,381,971	$	1,294,945	$	1,294,973

Schedule of fair value, financial instruments measured on recurring basis

At March 31, 2018 and December 31, 2017, financial instruments measured at fair value on a recurring basis, based upon the fair value hierarchy are as follows (in thousands):



	March 31, 2018
	Level 1		Level 2		Level 3		Total
Derivative assets:
Interest rate swaps	$	—	$	15,897	$	—	$	15,897
Total	$	—	$	15,897	$	—	$	15,897
Derivative liabilities:
Interest rate swaps	$	—	$	817	$	—	$	817
Total	$	—	$	817	$	—	$	817



	December 31, 2017
	Level 1		Level 2		Level 3		Total
Derivative assets:
Interest rate swaps	$	—	$	1,917	$	—	$	1,917
Total	$	—	$	1,917	$	—	$	1,917
Derivative liabilities:
Interest rate swaps	$	—	$	8,568	$	—	$	8,568
Total	$	—	$	8,568	$	—	$	8,568