XML 44 R32.htm IDEA: XBRL DOCUMENT v3.19.1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of unrealized gain or loss recognized in Accumulated other comprehensive income (loss)
The following table summarizes the post-tax amount of unrealized gain or loss recognized in Accumulated other comprehensive income (loss) ("OCI") in the consolidated statements of redeemable noncontrolling interests and stockholders' equity (in thousands):
 
 
Three Months Ended March 31,
 
 
2019
 
2018
Derivatives designated as cash flow hedges:
 
 
 
 
Loss in OCI at the beginning of the period
 
$
(3,124
)
 
$
(4,113
)
Unrealized (loss) gain recognized in OCI
 
(17,013
)
 
16,171

Amount reclassified from OCI to earnings
 
(989
)
 
(1,233
)
Net (loss) gain on derivatives (net of tax effect of $6,093 and $5,134)
 
(18,002
)
 
14,938

Cumulative effect of adoption of new ASU (No. 2018-02)
 
(740
)
 
—

(Loss) gain in OCI at the end of the period
 
(21,866
)
 
10,825
Offsetting assets
As of March 31, 2019 the information related to these offsetting arrangements were as follows (in thousands):
Instrument Description
 
Gross Amounts of Recognized Assets / Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts of Assets / Liabilities Included in the Consolidated Balance Sheet
Assets:
 
 
 
 
 
 
Derivatives
 
$
590

 
$
(276
)
 
$
314

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Derivatives
 
(28,314
)
 
276

 
(28,038
)
Total
 
$
(27,724
)
 
$
—

 
$
(27,724
)
Offsetting liabilities
As of March 31, 2019 the information related to these offsetting arrangements were as follows (in thousands):
Instrument Description
 
Gross Amounts of Recognized Assets / Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts of Assets / Liabilities Included in the Consolidated Balance Sheet
Assets:
 
 
 
 
 
 
Derivatives
 
$
590

 
$
(276
)
 
$
314

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Derivatives
 
(28,314
)
 
276

 
(28,038
)
Total
 
$
(27,724
)
 
$
—

 
$
(27,724
)
Summary of derivative instruments classified as derivative assets
At March 31, 2019, the Company had the following derivative instruments (dollars in thousands):
Type
 
Quantity
 
Effective Dates
 
Maturity Dates
 
Hedge Interest Rates
 
Notional Amount
 
Adjusted Net Fair Market Value
Interest rate swap
 
1

 
5/21/2018
 
9/20/2020
 
2.69%
 
$
80,500

 
$
(437
)
Interest rate swap
 
1

 
4/29/2016
 
8/31/2022
 
1.27%- 1.29%
 
13,179

 
314

Interest rate swaps
 
8

 
7/31/2017 - 1/31/2018
 
4/30/2024 - 10/20/2024
 
2.16%- 2.39%
 
283,160

 
(384
)
Interest rate swaps
 
3

 
4/30/2021
 
10/30/2026 - 10/31/2026
 
2.89% - 3.08%
 
102,720

 
(3,631
)
Interest rate swap
 
1

 
10/22/2018
 
9/20/2027
 
2.97%
 
30,023

 
(1,011
)
Interest rate swaps
 
2

 
4/22/2019 - 9/20/2020
 
3/20/2030 - 6/20/2030
 
2.22% - 2.57%
 
160,401

 
(1,177
)
Interest rate swap
 
1

 
9/20/2020
 
1/20/2031
 
2.61%
 
9,899

 
(332
)
Interest rate swaps
 
3

 
1/31/2020
 
4/30/2034
 
2.78%
 
200,000

 
(6,545
)
Interest rate swaps
 
5

 
7/31/2017 - 4/30/2024
 
7/31/2035
 
2.56% - 2.95%
 
151,610

 
(2,197
)
Interest rate swaps
 
5

 
1/31/2018 - 10/18/2024
 
10/31/2036
 
2.62% - 2.95%
 
183,398

 
(2,710
)
Interest rate swaps
 
3

 
1/31/2019 - 4/30/2021
 
4/30/2037
 
3.28% - 3.30%
 
100,000

 
(7,099
)
Interest rate swaps
 
3

 
10/30/2026 - 10/31/2026
 
1/31/2038
 
3.01% - 3.16%
 
101,135

 
(2,515
)
Total
 
 
 
 
 
 
 
 
 
$
1,416,025

 
$
(27,724
)