XML 36 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
Fair Value (Tables)
 6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of summary of consolidated Hedging Derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale
The following table summarizes the consolidated derivative positions at June 30, 2016 (dollars in thousands):
 
Non-designated
Hedges
Interest Rate Caps
 
Cash Flow
Hedges
Interest Rate Caps
 
Cash Flow
Hedges
Interest Rate Swaps
 
 
 
 
 
 
Notional balance
$
723,831

 
$
36,317

 
$
800,000

Weighted average interest rate (1)
2.2
%
 
2.6
%
 
N/A

Weighted average swapped/capped interest rate
6.2
%
 
5.9
%
 
2.3
%
Earliest maturity date
Nov 2016

 
Apr 2019

 
Nov 2017

Latest maturity date
Jul 2021

 
Apr 2019

 
Nov 2017

____________________________________

(1)
For interest rate caps, represents the weighted average interest rate on the hedged debt.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
 
For the three months ended
 
For the six months ended
 
6/30/2016
 
6/30/2015
 
6/30/2016
 
6/30/2015
 
 
 
 
 
 
 
 
Cash flow hedge losses reclassified to earnings
$
1,561

 
$
1,433

 
$
2,935

 
$
3,028
Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis
The following tables summarize the classification between the three levels of the fair value hierarchy of the Company’s financial instruments measured/disclosed at fair value on a recurring basis (dollars in thousands):
Description
 
Total Fair Value
 
Quoted Prices
in Active
Markets for Identical Asset
(Level 1)
 
Significant
Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
 
 
 
 
 
6/30/2016
Non-Designated Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
$
40

 
$
—

 
$
40

 
$
—

Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
—

 
—

 
—

 
—

Interest Rate Swaps
 
(54,311
)
 
—

 
(54,311
)
 
—

Puts
 
(8,181
)
 
—

 
—

 
(8,181
)
DownREIT units
 
(1,353
)
 
(1,353
)
 
—

 
—

Indebtedness
 
 
 
 
 
 
 
 
Unsecured notes
 
(4,273,722
)
 
(4,273,722
)
 
—

 
—

Mortgage notes payable and unsecured term loan
 
(2,732,990
)
 
—

 
(2,732,990
)
 
—

Total
 
$
(7,070,517
)
 
$
(4,275,075
)
 
$
(2,787,261
)
 
$
(8,181
)
Description
 
Total Fair Value
 
Quoted Prices
in Active
Markets for Identical Asset
(Level 1)
 
Significant
Other
Observable Inputs
(Level 2)
 
Significant
Unobservable Inputs
(Level 3)
 
 
 
 
 
 
12/31/2015
Non-Designated Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
$
26

 
$
—

 
$
26

 
$
—

Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest Rate Caps
 
5

 
—

 
5

 
—

Interest Rate Swaps
 
5,422

 
—

 
5,422

 
—

Puts
 
(8,181
)
 
—

 
—

 
(8,181
)
DownREIT units
 
(1,381
)
 
(1,381
)
 
—

 
—

Indebtedness
 
 
 
 
 
 
 
 
Unsecured notes
 
(3,668,417
)
 
(3,668,417
)
 
—

 
—

Mortgage notes payable and unsecured term loan
 
(2,700,341
)
 
—

 
(2,700,341
)
 
—

Total
 
$
(6,372,867
)
 
$
(3,669,798
)
 
$
(2,694,888
)
 
$
(8,181
)