XML 48 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Fair Value of Instruments and Derivatives Fair Value of Derivatives and Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of Interest Rate Derivatives [Table Text Block]
As of June 30, 2018, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:
Interest Rate Derivative
 
Number of Instruments
 
Notional Amount
Interest Rate Cap
 
1
 
$
25,000,000

  Interest Rate Swaps(1)
 
12
 
$
550,000,000

(1) 
Six forward rate swaps totaling $300.0 million, which hedge the first 10 years of interest payments on debt anticipated to be issued in the future are included in the number of instruments but excluded from the notional amount. These swaps are not included in the debt discussion in Note 6 or Management's Discussion and Analysis of Financial Condition and Results of Operations found elsewhere in this Quarterly Report on Form 10-Q.
Derivative Instruments, Gain (Loss) [Table Text Block]
Tabular Disclosure of the Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations

The tables below present the effect of the Company's derivative financial instruments on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018 and 2017 (dollars in thousands):
Derivatives in Cash Flow Hedging Relationships
 
Amount of Gain (Loss) Recognized in OCI on Derivative
 
Location of Gain (Loss) Reclassified from Accumulated OCI into Income
 
Amount of Gain (Loss) Reclassified from Accumulated OCI into Interest Expense(1)
Three months ended June 30,
 
2018
 
2017
 
 
2018
 
2017
Interest rate contracts
 
$
5,720

 
$
(3,863
)
 
Interest Expense
 
$
555

 
$
(246
)
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 

 
 

 
 
 
 
 
 

Interest rate contracts
 
$
6,552

 
$
(1,343
)
 
Interest Expense
 
$
748

 
$
(918
)

(1)     See Note 4 for changes in accumulated other comprehensive income as these changes are presented net of the allocation to noncontrolling interests.

Derivatives Not Designated as Hedging Instruments
 
Location of Gain (Loss) Recognized in Income on Derivative
 
Amount of Gain (Loss) Recognized in Earnings on Derivative
For the three months ended June 30,
 
 
2018
 
2017
Preferred stock embedded derivative
 
Other non-operating income
 
$
2,793

 
$
(633
)
 
 
 
 
 
 
 
For the six months ended June 30,
 
 
 
 
 
 
Preferred stock embedded derivative
 
Other non-operating income
 
$
149

 
$
1,720