Financial Instruments

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure

Financial Instruments

We are exposed to capital market risk, such as changes in interest rates. In an effort to manage interest rate risk, we may enter into interest rate hedging arrangements from time to time. We do not utilize derivative financial instruments for trading or speculative purposes.

As of December 31, 2018, the following forward-starting interest rate swaps designated as cash flow hedges (in thousands, except number of instruments) were outstanding:

Interest Rate Derivatives	Number of Instruments	Notional Amount		Asset (Liability) Fair Value
Interest Rate Swaps	2	$	200,000	$	(4,676	)

The fair value of our interest rate swap contracts was in a liability position as of December 31, 2018 and included in other liabilities on our Consolidated Balance Sheets.