Interest Rate Swaps (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Interest Rate Swap Agreement

The following table sets forth a summary of our interest rate swaps as of December 31, 2016 and 2015. We record all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly, there are no offsetting amounts that net assets against liabilities (dollars in thousands):

					Fair Value				Current Notional Amount(1)
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate		December 31, 2016		December 31, 2015		December 31, 2016		December 31, 2015
Assets(2):
Interest Rate Swap	2/14/2018	1/14/2022	1.349	%	$	3,245	$	—	$	—	$	—
Interest Rate Swap	8/14/2018	1/14/2022	1.406	%	$	2,349	$	—	$	—	$	—
Liabilities(3):
Interest Rate Swap	1/15/2015	2/15/2019	1.826	%	$	338	$	538	$	30,000	$	30,000
Interest Rate Swap	7/15/2015	2/15/2019	2.010	%	$	440	$	698	$	29,674	$	30,000
Interest Rate Swap	8/14/2015	12/14/2018	1.790	%	$	529	$	849	$	50,000	$	50,000
Interest Rate Swap	2/16/2016	12/14/2018	2.005	%	$	738	$	1,059	$	50,000	$	—

(1) Represents the notional value of swaps that are effective as of the balance sheet date presented. 

(2) The fair value of these interest rate swaps are included in the line item “Interest rate swap asset” in the accompanying consolidated balance sheets.

(3) The fair value of these interest rate swaps are included in the line item “Interest rate swap liability” in the accompanying consolidated balance sheets.

Summary of Impact of Derivative Instruments on Consolidated and Combined Financial Statements

The following table sets forth the impact of our interest rate swaps on our consolidated statements of operations for the periods presented (in thousands):

	Year Ended December 31,
	2016			2015			2014
Interest Rate Swaps in Cash Flow Hedging Relationships:
Amount of gain (loss) recognized in AOCI on derivatives (effective portion)	$	4,475		$	(2,781	)	$	(1,402	)
Amount of gain (loss) reclassified from AOCI into earnings under “Interest expense” (effective portion)	$	(2,218	)	$	(1,039	)	$	—
Amount of gain (loss) recognized in earnings under “Interest expense” (ineffective portion and amount excluded from effectiveness testing)	$	—		$	—		$	—