Derivatives (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Offsetting assets

As of June 30, 2020, 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	$	—	$	—	$	—
Liabilities:
Derivatives	(166,325)		—		(166,325)
Total	$	(166,325)	$	—	$	(166,325)

As of December 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	$	683	$	(615)	$	68
Liabilities:
Derivatives	(64,361)		615		(63,746)
Total	$	(63,678)	$	—	$	(63,678)

Offsetting liabilities

As of June 30, 2020, 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	$	—	$	—	$	—
Liabilities:
Derivatives	(166,325)		—		(166,325)
Total	$	(166,325)	$	—	$	(166,325)

As of December 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	$	683	$	(615)	$	68
Liabilities:
Derivatives	(64,361)		615		(63,746)
Total	$	(63,678)	$	—	$	(63,678)

Summary of derivative instruments classified as derivative assets

At June 30, 2020, 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	4/29/2016	8/31/2022	1.27% - 1.29%	$	10,676	$	(253)
Interest rate swaps	8	7/31/2017 - 1/31/2018	4/30/2024 - 10/20/2024	2.16% - 2.39%	277,984		(21,474)
Interest rate swaps	3	4/30/2021	10/30/2026 - 10/31/2026	2.89% - 3.08%	102,720		(14,808)
Interest rate swaps	2	10/31/2019	4/30/2027	1.89% - 1.90%	19,007		(1,136)
Interest rate swaps	2	10/31/2019	10/31/2031	1.44% - 1.50%	22,908		(1,426)
Interest rate swaps	4	1/31/2018 - 4/30/2020	4/30/2034 - 10/31/2034	2.62% - 2.81%	243,504		(49,165)
Interest rate swaps	8	7/31/2017 - 10/18/2024	4/30/2035 - 10/31/2035	2.56% - 2.95%	275,438		(35,428)
Interest rate swap	1	10/18/2024	1/31/2036	2.95%	14,656		(1,797)
Interest rate swaps	3	1/31/2019 - 4/30/2021	4/30/2037	3.30% - 3.33%	100,000		(24,976)
Interest rate swaps	3	10/30/2026 - 10/31/2026	1/31/2038	3.01% - 3.16%	101,135		(15,862)
Total					$	1,168,028	$	(166,325)