DERIVATIVE AND HEDGING INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following presents the notional amount of derivatives instruments as of the dates indicated (in thousands):    

	September 30, 2016		December 31, 2015
Derivatives designated as cash flow hedges:
Denominated in U.S. Dollars	$	245,000	$	200,000
Denominated in Canadian Dollars	$	125,000	$	90,000
Derivatives designated as net investment hedges:
Denominated in Canadian Dollars	$	56,300	$	56,300
Financial instrument designated as net investment hedge:
Denominated in Canadian Dollars	$	125,000	$	90,000

Summary of Derivative and Financial Instruments Designated as Hedging Instruments

The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at September 30, 2016 and December 31, 2015 (in thousands):    

			September 30, 2016		December 31, 2015		Maturity Dates
Type	Designation	Count	Fair Value					Balance Sheet Location
Assets:
Interest rate cap	Cash Flow	—	$	—	$	1,695	2019	Prepaid expenses, deferred financing costs and other assets, net
Interest rate swap	Cash Flow	2	452		—		2021	Prepaid expenses, deferred financing costs and other assets, net
Cross currency interest rate swaps	Net Investment	2	3,173		5,392		2025	Prepaid expenses, deferred financing costs and other assets, net
			$	3,625	$	7,087
Liabilities:
Interest rate swap	Cash Flow	2	$	1,724	$	1,468	2020 - 2021	Accounts payable and accrued liabilities
CAD Term Loan	Net Investment	1	95,112		64,890		2020	Term loans, net
			$	96,836	$	66,358

Schedule of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity

The following presents the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and nine months ended September 30, 2016:

	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)												Income Statement Location
	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Cash Flow Hedges:
Interest Rate Products	$	(40	)	$	(1,991	)	$	(2,019	)	$	(4,626	)	Interest Expense
Net Investment Hedges:
Foreign Currency Products	102			4,600			(2,118		)	4,436			N/A
CAD Term Loan	1,363			(5,733		)	(5,863		)	(6,129		)	N/A
	$	1,425		$	(3,124	)	$	(10,000	)	$	(6,319	)

	Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)												Income Statement Location
	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Cash Flow Hedges:
Interest Rate Products	$	(413	)	$	(136	)	$	(802	)	$	(161	)	Interest Expense
Net Investment Hedges:
Foreign Currency Products	—			—			—			—			N/A
CAD Term Loan	—			—			—			—			N/A
	$	(413	)	$	(136	)	$	(802	)	$	(161	)

Schedule of the Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Assets

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2016 and December 31, 2015:

	As of September 30, 2016
							Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Financial Instruments			Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	3,625	$	—	$	3,625	$	(1,607	)	$	—	$	2,018
Offsetting Liabilities:
Derivatives	$	1,724	$	—	$	1,724	$	(1,607	)	$	—	$	117

	As of December 31, 2015
							Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Financial Instruments			Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	7,087	$	—	$	7,087	$	(1,468	)	$	—	$	5,619
Offsetting Liabilities:
Derivatives	$	1,468	$	—	$	1,468	$	(1,468	)	$	—	$	—

Schedule of the Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Liabilities

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2016 and December 31, 2015:

	As of September 30, 2016
							Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Financial Instruments			Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	3,625	$	—	$	3,625	$	(1,607	)	$	—	$	2,018
Offsetting Liabilities:
Derivatives	$	1,724	$	—	$	1,724	$	(1,607	)	$	—	$	117

	As of December 31, 2015
							Gross Amounts Not Offset in the Balance Sheet
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Financial Instruments			Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	7,087	$	—	$	7,087	$	(1,468	)	$	—	$	5,619
Offsetting Liabilities:
Derivatives	$	1,468	$	—	$	1,468	$	(1,468	)	$	—	$	—