Interest Rate Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives

As of March 31, 2016 and December 31, 2015, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk.

	March 31, 2016			December 31, 2015
Interest Rate Derivative	Number of Instruments	Notional Amount		Number of Instruments	Notional Amount
		(In thousands)			(In thousands)
Interest rate swaps	3	$	124,700	4	$	131,988

As of March 31, 2016, the Company had the following outstanding interest rate derivatives that were not designated as hedges in qualified hedging relationships.

	March 31, 2016			December 31, 2015
Interest Rate Derivative	Number of Instruments	Notional Amount		Number of Instruments	Notional Amount
		(In thousands)			(In thousands)
Interest rate caps	2	$	305,000	2	$	305,000

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of March 31, 2016 and December 31, 2015:

(In thousands)	Balance Sheet Location	March 31, 2016			December 31, 2015
Derivatives designated as hedging instruments:
Interest rate swaps	Derivative assets, at fair value	$	—		$	15
Interest rate swaps	Derivative liabilities, at fair value	$	(2,129	)	$	(1,266	)
Derivatives not designated as hedging instruments:
Interest rate caps	Derivative assets, at fair value	$	165		$	416

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The table below details the location in the financial statements of the income or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2016 and 2015:

	Three Months Ended March 31,
(In thousands)	2016			2015
Amount of loss recognized in accumulated other comprehensive income (loss) from interest rate derivatives (effective portion)	$	(1,235	)	$	(1,619	)
Amount of loss reclassified from accumulated other comprehensive income (loss) into income as interest expense (effective portion)	$	(356	)	$	(526	)
Amount of loss recognized in loss on derivative instruments (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	$	—		$	(4	)

Offsetting Liabilities

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of March 31, 2016 and December 31, 2015. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets.

									Gross Amounts Not Offset on the Balance Sheet
Derivatives (In thousands)	Gross Amounts of Recognized Assets		Gross Amounts of Recognized Liabilities			Net Amounts of Assets (Liabilities) presented on the Balance Sheet			Financial Instruments		Cash Collateral Posted		Net Amount
March 31, 2016	$	165	$	(2,129	)	$	(1,964	)	$	—	$	—	$	(1,964	)
December 31, 2015	$	431	$	(1,266	)	$	(835	)	$	—	$	—	$	(835	)