Interest Rate Contracts (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Interest Rate Swaps

The following table sets forth a summary of the interest rate swaps at December 31, 2019 and 2018:

				Fair Value (1)						Current Notional Amount
				December 31,						December 31,
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate	2019			2018			2019		2018
Assets/(Liabilities):
Interest Rate Swap	7/9/2015	7/1/2020	1.69%	$	(43	)	$	5,245		$	425,000	$	425,000
Interest Rate Swap	7/1/2020	7/1/2025	2.82%	(7,038		)	(1,987		)	125,000		125,000
Interest Rate Swap	7/1/2020	7/1/2025	2.82%	(5,651		)	(1,628		)	100,000		100,000
Interest Rate Swap	7/1/2020	7/1/2025	2.83%	(5,665		)	(1,636		)	100,000		100,000
Interest Rate Swap	7/1/2020	7/1/2025	2.84%	(5,749		)	(1,711		)	100,000		100,000
Total				$	(24,146	)	$	(1,717	)	$	850,000	$	850,000

(1) The Company records all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly there are no offsetting amounts that net assets against liabilities. As of December 31, 2019, derivatives in a liability position are included in the line item "Interest rate swap liability," respectively, in the consolidated balance sheets at fair value.

(2) Represents the notional amount of swaps as of the balance sheet date of December 31, 2019 and 2018.

Derivative Instruments, Gain (Loss)

The following table sets forth the impact of the interest rate swaps on the consolidated statements of operations for the periods presented:

	Year Ended December 31,
	2019			2018
Interest Rate Swap in Cash Flow Hedging Relationship:
Amount of (loss) gain recognized in AOCI on derivatives	$	(19,944	)	$	(3,483	)
Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense”	$	(2,359	)	$	(1,818	)
Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded	$	73,557		$	55,194