Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Financial Instruments

Schedule of Derivatives

The Company’s derivatives comprised the following as of December 31, 2015 and 2014 (in thousands):

	December 31,
	2015						2014
	Notional		Fair Value				Notional		Fair Value
	Amount		Asset		Liability		Amount		Asset		Liability
Interest rate swaps	$	57,093	$	—	$	(1,082)	$	685	$	—	$	(11)
Interest rate caps		246,546		164		—		180,434		260		—
Total	$	303,639	$	164	$	(1,082)	$	181,119	$	260	$	(11)

Schedule of changes in fair value of derivatives

The changes in the fair value of the Company’s derivatives during each of the three years ended December 31, 2015 was as follows (in thousands):

	Years Ended December 31,
	2015		2014		2013
Interest rate swaps	$	(1,071)	$	5	$	152
Interest rate caps		(233)		(238)		(164)
Total	$	(1,304)	$	(233)	$	(12)
Comprehensive income statement presentation:
Other income (loss)	$	(229)	$	(233)	$	(12)
Unrealized gain (loss) on cash flow hedge		(1,075)		—		—
Total	$	(1,304)	$	(233)	$	(12)