Derivative Instruments and Hedging Activities (Tables)

11 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

The following table presents the fair values and location in the Consolidated Balance Sheets of all derivative instruments:

	Fair Value of Derivative Instruments
	December 31, 2013
	Asset Derivatives (included in Other Assets)				Liability Derivatives (included in Accounts Payable, Accrued Expenses and Other Liabilities)
	Current Notional		Fair Value		Current Notional		Fair Value
	(in thousands)
Derivatives Designated as Hedging Instruments
Interest rate swap agreements	$	—	$	—	$	961,359	$	97,858
TRS	18,970		903		339,785		9,772
Total	$	18,970	$	903	$	1,301,144	$	107,630
Derivatives Not Designated as Hedging Instruments
Interest rate caps	$	447,532	$	155	$	—	$	—
TRS	—		—		39,052		15,477
Total	$	447,532	$	155	$	39,052	$	15,477
	January 31, 2013
Derivatives Designated as Hedging Instruments
Interest rate swap agreements	$	—	$	—	$	1,019,920	$	129,522
TRS	28,000		965		238,395		10,915
Total	$	28,000	$	965	$	1,258,315	$	140,437
Derivatives Not Designated as Hedging Instruments
Interest rate caps	$	479,085	$	7	$	—	$	—
Interest rate swap agreements	18,877		241		—		—
TRS	140,800		20,101		39,562		15,287
Total	$	638,762	$	20,349	$	39,562	$	15,287

Gains and Losses Related to Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI

The following tables present the impact of gains and losses related to derivative instruments designated as cash flow hedges included in the accumulated OCI section of the Consolidated Balance Sheets and in equity in earnings and interest expense in the Consolidated Statements of Operations:

				Gain (Loss) Reclassified from Accumulated OCI
Derivatives Designated as Cash Flow Hedging Instruments	Gain (Loss) Recognized in OCI (Effective Portion)			Location on Consolidated Statements of Operations	Effective Amount			Ineffective Amount
	(in thousands)
11 Months Ended December 31, 2013
Interest rate swaps	$	37,094		Interest expense	$	(3,295	)	$	(2,963	)
Interest rate caps and interest rate swaps	—			Equity in earnings	(86		)	4
Total	$	37,094			$	(3,381	)	$	(2,959	)
Year Ended January 31, 2013
Interest rate caps, interest rate swaps and Treasury options	$	21,601		Interest expense	$	(3,916	)	$	—
Interest rate caps, interest rate swaps and Treasury options	—			Equity in earnings	(342		)	14
Total	$	21,601			$	(4,258	)	$	14
Year Ended January 31, 2012
Interest rate caps, interest rate swaps and Treasury options	$	(48,087	)	Interest expense	$	(3,514	)	$	1
Treasury options	—			Equity in earnings	(372		)	(565		)
Total	$	(48,087	)		$	(3,886	)	$	(564	)

Impact of Gains and Losses Related to Derivative Instruments Not Designated as Cash Flow Hedges

The following table presents the impact of gains and losses related to derivative instruments not designated as cash flow hedges in the Consolidated Statements of Operations :

	Net Gain (Loss) Recognized
	11 Months Ended			Years Ended
	December 31, 2013			January 31, 2013			January 31, 2012
	(in thousands)
Derivatives Designated as Fair Value Hedging Instruments
TRS (1)	$	1,081		$	(770	)	$	11,855
Derivatives Not Designated as Hedging Instruments
Interest rate caps and interest rate swaps	$	(319	)	$	(922	)	$	(1,037	)
TRS	(1,091		)	12,568			2,264
Total	$	(1,410	)	$	11,646		$	1,227

(1) The net gain (loss) recognized in interest expense from the change in fair value of the underlying TRS borrowings was $(1,081), $770 and $(11,855) for the 11 months ended December 31, 2013 and the years ended January 31, 2013 and 2012, respectively, offsetting the gain (loss) recognized on the TRS.