DERIVATIVE AND HEDGING INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amount of Derivatives Instruments

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

	September 30, 2018		December 31, 2017
Derivatives designated as cash flow hedges:
Denominated in U.S. Dollars	$	845,000	$	845,000
Denominated in Canadian Dollars	$	125,000	$	125,000
Derivatives designated as net investment hedges:
Denominated in Canadian Dollars	$	55,425	$	56,300
Financial instrument designated as net investment hedge:
Denominated in Canadian Dollars	$	125,000	$	125,000
Derivatives not designated as net investment hedges:
Denominated in Canadian Dollars	$	875	$	—

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, 2018 and December 31, 2017 (dollars in thousands):    

		Count as of September 30, 2018	Fair Value				Maturity Dates
Type	Designation		September 30, 2018		December 31, 2017			Balance Sheet Location
Assets:
Interest rate swaps	Cash flow	12	$	36,688	$	25,221	2020 - 2023	Accounts receivable, prepaid expenses and other assets, net
Cross currency interest rate swaps	Net investment	2	1,423		674		2025	Accounts receivable, prepaid expenses and other assets, net
			$	38,111	$	25,895
Liabilities:
CAD term loan	Net investment	1	96,888		99,588		2022	Term loans, net
			$	96,888	$	99,588

Effect 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, 2018 and 2017 (in thousands):

	Gain (Loss) Recognized in Other Comprehensive Income
	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018		2017			Income Statement Location
Cash Flow Hedges:
Interest rate products	$	2,954		$	4,372		$	16,091	$	4,462		Interest expense
Net Investment Hedges:
Foreign currency products	(688		)	(1,080		)	817		(2,239		)	N/A
CAD term loan	(1,725		)	(3,938		)	2,700		(7,225		)	N/A
	$	541		$	(646	)	$	19,608	$	(5,002	)

	Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
	Three Months Ended September 30,					Nine Months Ended September 30,
	2018		2017			2018		2017			Income Statement Location
Cash Flow Hedges:
Interest rate products	$	1,001	$	(535	)	$	1,584	$	(1,404	)	Interest expense
Net Investment Hedges:
Foreign currency products	—		—			—		—			N/A
CAD term loan	—		—			—		—			N/A
	$	1,001	$	(535	)	$	1,584	$	(1,404	)

Gross Presentation, Effects of Offsetting, and 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, 2018 and December 31, 2017 (in thousands):

	As of September 30, 2018
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
							Financial Instruments		Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	38,111	$	—	$	38,111	$	—	$	—	$	38,111
Offsetting Liabilities:
Derivatives	$	—	$	—	$	—	$	—	$	—	$	—

	As of December 31, 2017
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
							Financial Instruments		Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	25,895	$	—	$	25,895	$	—	$	—	$	25,895
Offsetting Liabilities:
Derivatives	$	—	$	—	$	—	$	—	$	—	$	—

Gross Presentation, Effects of Offsetting, and 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, 2018 and December 31, 2017 (in thousands):

	As of September 30, 2018
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
							Financial Instruments		Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	38,111	$	—	$	38,111	$	—	$	—	$	38,111
Offsetting Liabilities:
Derivatives	$	—	$	—	$	—	$	—	$	—	$	—

	As of December 31, 2017
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets / Liabilities presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
							Financial Instruments		Cash Collateral Received		Net Amount
Offsetting Assets:
Derivatives	$	25,895	$	—	$	25,895	$	—	$	—	$	25,895
Offsetting Liabilities:
Derivatives	$	—	$	—	$	—	$	—	$	—	$	—