Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Financial Instruments

Schedule of Derivatives

The Company’s derivatives were comprised of the following as of March 31, 2016 and December 31, 2015 (in thousands):

	March 31, 2016						December 31, 2015
	(Unaudited)
	Notional						Notional
	Amount		Fair Value				Amount		Fair Value
			Asset		Liability				Asset		Liability
Interest rate swaps	$	57,047	$	—	$	(2,250)	$	57,093	$	—	$	(1,082)
Interest rate caps		218,500		75		—		246,546		164		—
Total	$	275,547	$	75	$	(2,250)	$	303,639	$	164	$	(1,082)

Schedule of changes in fair value of derivatives

The changes in the fair value of the Company’s derivatives during the three months ended March 31, 2016 and 2015 were comprised of the following (in thousands):

	Three Months Ended
	March 31,
	2016		2015
	(Unaudited)
Interest rate swaps	$	(2,244)	$	(787)
Interest rate caps		(145)		(146)
Total	$	(2,389)	$	(933)
Comprehensive income statement presentation:
Change in fair value of interest rate derivatives	$	(2,389)	$	(147)
Unrealized gain (loss) on cash flow hedge		—		(786)
Total	$	(2,389)	$	(933)