DERIVATIVE AND HEDGING INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2017

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, 2017		December 31, 2016
Derivatives designated as cash flow hedges:
Denominated in U.S. Dollars	$	845,000	$	245,000
Denominated in Canadian Dollars	$	125,000	$	125,000
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	$	125,000

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, 2017 and December 31, 2016 (dollars in thousands):    

			Fair Value				Maturity Dates
Type	Designation	Count as of September 30, 2017	September 30, 2017		December 31, 2016			Balance Sheet Location
Assets:
Interest rate swap	Cash flow	12	$	18,957	$	8,083	2020 - 2023	Accounts receivable, prepaid expenses and other assets, net
Cross currency interest rate swaps	Net investment	2	827		3,157		2025	Accounts receivable, prepaid expenses and other assets, net
			$	19,784	$	11,240
Liabilities:
Interest rate swap	Cash flow	—	$	—	$	716	2020	Accounts payable and accrued liabilities
CAD term loan	Net investment	1	100,225		93,000		2022	Term loans, net
			$	100,225	$	93,716

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 and financial instruments designated as hedging instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and nine months ended September 30, 2017 (in thousands):

	Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)												Income Statement Location
	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Cash Flow Hedges:
Interest rate products	$	4,372		$	(40	)	$	4,462		$	(2,019	)	Interest expense
Net Investment Hedges:
Foreign currency products	(1,080		)	102			(2,239		)	(2,118		)	N/A
CAD term loan	(3,938		)	1,363			(7,225		)	(5,863		)	N/A
	$	(646	)	$	1,425		$	(5,002	)	$	(10,000	)

	Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)												Income Statement Location
	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Cash Flow Hedges:
Interest rate products	$	(535	)	$	(413	)	$	(1,404	)	$	(802	)	Interest expense
Net Investment Hedges:
Foreign currency products	—			—			—			—			N/A
CAD term loan	—			—			—			—			N/A
	$	(535	)	$	(413	)	$	(1,404	)	$	(802	)

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, 2017 and December 31, 2016 (in thousands):

	As of September 30, 2017
							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	$	20,273	$	—	$	20,273	$	—	$	—	$	20,273
Offsetting Liabilities:
Derivatives	$	—	$	—	$	—	$	—	$	—	$	—

	As of December 31, 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	$	11,240	$	—	$	11,240	$	(716	)	$	—	$	10,524
Offsetting Liabilities:
Derivatives	$	716	$	—	$	716	$	(716	)	$	—	$	—

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, 2017 and December 31, 2016 (in thousands):

	As of September 30, 2017
							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	$	20,273	$	—	$	20,273	$	—	$	—	$	20,273
Offsetting Liabilities:
Derivatives	$	—	$	—	$	—	$	—	$	—	$	—

	As of December 31, 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	$	11,240	$	—	$	11,240	$	(716	)	$	—	$	10,524
Offsetting Liabilities:
Derivatives	$	716	$	—	$	716	$	(716	)	$	—	$	—