Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Notional and Fair Value Amounts of Derivative Financial Instruments

The following table summarizes the notional and fair value amounts of our derivative financial instruments as of December 31, 2014 and 2013 ($ in thousands):


	December 31, 2014				December 31, 2013
	Notional Amount		Fair Value		Notional Amount		Fair Value
Foreign Currency Contracts	$	42,525	$	1,138	$	—	$	—

	$	42,525	$	1,138	$	—	$	—

Summary of Impact of Derivative Financial Instruments to Consolidated Statement of Operations and Consolidated Statement of Comprehensive Income

The following table summarizes the impact of our derivative financial instruments to our consolidated statement of operations and consolidated statement of comprehensive income for the year ended December 31, 2014, 2013, and 2012 ($ in thousands):


	For the year ended December 31,
	2014		2013		2012
Net investment hedges – Foreign currency contracts
Gain recognized in other comprehensive income	$	1,138	$	—	$	—

Gain reclassified from AOCI into net income	$	—	$	—	$	—

Gain recognized in net income	$	—	$	—	$	—

Freestanding derivatives – Interest rate contracts⁽¹⁾
Loss recognized in other comprehensive income	$	—	$	—	$	(10,449	)

Loss reclassified from AOCI into net income	$	—	$	—	$	(15,066	)

Gain recognized in net income	$	—	$	136	$	—

(1)

The interest rate derivatives represent five interest rate swaps that our consolidated subsidiary, CT Legacy Partners was party to during 2013. In June 2013, CT Legacy Partners terminated these interest rate swaps and recorded a gain of $136,000 which was included as a component of interest expense on our consolidated statements of operations for the year ended December 31, 2013. CT Legacy Partners is no longer party to any derivative financial instruments as of December 31, 2014.