Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate derivatives

As of March 31, 2020, the Company had interest rate swap and cap agreements in place to fix or limit the floating interest rates on a portion of the borrowings under its debt facilities summarized below:

Derivatives	Notional Amount	Weighted Average Fixed Leg (Pay) Interest Rate	Cap Rate	Weighted Average Remaining Term
Interest Rate Swap(1)	$1,786.8 million	2.02%	n/a	4.9 years
Interest Rate Cap	$200.0 million	n/a	5.5%	1.8 years

(1) The impact of forward starting swaps with total notional amount of $550.0 million will increase the weighted average remaining term to 6.5 years.

Schedule of derivatives instruments and their effect on consolidated statements of operations and consolidated statements of comprehensive income

The following table summarizes the impact of derivative instruments on the consolidated statements of operations and the consolidated statements of comprehensive income on a pretax basis (in thousands):

		Three Months Ended  March 31,
Derivative Instrument	Financial statement caption	2020			2019
Non-designated derivative instruments	Realized (gain) loss on derivative instruments, net	$	(235	)	$	(704	)
Non-designated derivative instruments	Unrealized (gain) loss on derivative instruments, net	$	297		$	986
Designated derivative instruments	Interest and debt (income) expense	$	1,259		$	(2,355	)
Designated derivative instruments	Comprehensive loss	$	129,614		$	16,467

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The fair value of derivative instruments on the Company's consolidated balance sheets as of March 31, 2020 and December 31, 2019 was as follows (in thousands):

	Asset Derivatives				Liability Derivatives
Derivative Instrument	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019
Interest rate hedges, designated	$	35	$	10,562	$	153,152	$	36,087
Interest rate hedges, non-designated	—		286		11		—
Total derivatives	$	35	$	10,848	$	153,163	$	36,087