XML 35 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING (Tables)
 6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative financial instruments
Information about our derivative financial instruments at June 30, 2018 and December 31, 2017 is as follows (dollars in thousands): 
 
 
 
 
 
 
Notional Amount
 
Fair Value
Contract date
 
Effective Date
 
Expiration Date
 
June 30,
2018
 
December 31,
2017
 
June 30,
2018
 
December 31,
2017
September 5, 2013
 
January 2, 2014
 
October 1, 2018
 
$
75,000

(1) 
$
75,000

 
$
14

 
$
(190
)
October 2, 2017
 
January 29, 2018
 
January 31, 2023
 
100,000

(2) 
100,000

 
3,231

 
722

October 2, 2017
 
January 29, 2018
 
January 31, 2023
 
100,000

(2) 
100,000

 
3,299

 
787

June 11, 2018
 
September 28, 2018
 
September 30, 2024
 
75,000

(3) 
—

 
(347
)
 
—

June 11, 2018
 
December 31, 2018
 
December 31, 2025
 
125,000

(4) 
—

 
(772
)
 
—

 
 
 
 
 
 
$
475,000

 
$
275,000

 
$
5,425

 
$
1,319


 
(1)
Interest rate swap is related to a portion of our 2016 Unsecured Credit Facility and converts LIBOR from a floating rate to an average annual fixed rate of 2.04%.
(2)
Interest rate swap partially fixes the interest rate on a portion of our variable interest rate unsecured indebtedness and converts LIBOR from a floating rate to an average annual fixed rate of 1.98%.
(3)
Interest rate swap partially fixes the interest rate on a portion of our variable interest rate unsecured indebtedness and converts LIBOR from a floating rate to an average annual fixed rate of 2.87%.
(4)
Interest rate swap partially fixes the interest rate on a portion of our variable interest rate unsecured indebtedness and converts LIBOR from a floating rate to an average annual fixed rate of 2.93%.
Schedule of the location in the financial statements of the gain or loss recognized on derivative financial instruments designated as cash flow hedges
The table below details the location in the financial statements of the gain or loss recognized on derivative financial instruments designated as cash flow hedges (in thousands):
 
 
 
For the
Three Months Ended
June 30,
 
For the
Six Months Ended
June 30,
 
 
2018
 
2017
 
2018
 
2017
Gain(loss) recognized in Accumulated other comprehensive income on derivative financial instruments
 
$
309

 
$
(22
)
 
$
3,846

 
$
90

Loss reclassified from Accumulated other comprehensive income to Interest expense
 
$
(53
)
 
$
(196
)
 
$
(260
)
 
$
(433
)