Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Foreign Exchange Derivatives Designated as Net Investment Hedges of Foreign Currency Risk

The following table details our outstanding foreign exchange derivatives that were designated as net investment hedges of foreign currency risk (notional amount in thousands):

December 31, 2016			December 31, 2015
Foreign Currency Derivatives	Number of Instruments	Notional Amount	Foreign Currency Derivatives	Number of Instruments	Notional Amount
Sell GBP Forward	2	£          141,900	Sell GBP Forward	2	£            90,400
Sell CAD Forward	2	C$        122,900	Sell CAD Forward	2	C$        154,900
Sell EUR Forward	1	€             44,900	Sell EUR Forward	1	€             49,000

Summary of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk

The following tables detail our outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (notional amount in thousands):

December 31, 2016
Interest Rate Derivatives	Number of     Instruments	Notional Amount		Rate/ Strike			Index	Wtd.-Avg. Maturity         (Years)
Interest Rate Swaps(1)	4	C	$        108,271		1.0	%	CDOR	2.4
Interest Rate Caps	21	$	802,256		2.0	%	USD LIBOR	0.4
Interest Rate Caps	5	C	$         400,035		2.0	%	CDOR	0.4
Interest Rate Caps	1	£	15,142		2.0	%	GBP LIBOR	0.3
December 31, 2015
Interest Rate Derivatives	Number of     Instruments	Notional Amount		Strike			Index	Wtd.-Avg. Maturity         (Years)
Interest Rate Caps	26	$	1,097,632		2.0	%	USD LIBOR	1.3
Interest Rate Caps	7	C	$         483,286		2.0	%	CDOR	1.2
Interest Rate Caps	1	€	152,710		2.0	%	EURIBOR	1.0
Interest Rate Caps	1	£	15,142		2.0	%	GBP LIBOR	1.3

(1) Two of our interest rate swaps totaling C$91.0 million ($67.7 million as of December 31, 2016) do not become effective until June 1, 2017.

Summary of Non-designated Hedges

The following table summarizes our non-designated hedges (notional amount in thousands):

December 31, 2016
Non-designated Hedges	Number of Instruments	Notional Amount
Interest Rate Caps	3	$	256,875
Interest Rate Caps	2	C$	37,221
Buy GBP / Sell EUR Forward	1	€	12,857
December 31, 2015
Non-designated Hedges	Number of Instruments	Notional Amount
Interest Rate Caps	4	C$	67,303
Interest Rate Caps	1	$	13,387
Buy GBP / Sell EUR Forward	1	€	12,857
Buy GBP / Sell USD Forward	1	£	10,400
Buy USD / Sell GBP Forward	1	£	10,400
Buy CAD / Sell USD Forward	1	C$	1,000
Buy USD / Sell CAD Forward	1	C$	1,000

Summary of Fair Value of Derivative Financial Instruments

The following table summarizes the fair value of our derivative financial instruments ($ in thousands):

	Fair Value of Derivatives in an Asset Position(1) as of				Fair Value of Derivatives in a Liability Position(2) as of
	December 31, 2016		December 31, 2015		December 31, 2016		December 31, 2015
Derivatives designated as hedging instruments:
Foreign exchange contracts	$	3,268	$	7,999	$	210	$	511
Interest rate derivatives		331		238		—		—
Total derivatives designated as hedging instruments	$	3,599	$	8,237	$	210	$	511
Derivatives not designated as hedging instruments:
Foreign exchange contracts	$	487	$	419	$	—	$	937
Interest rate derivatives		—		1		—		—
Total derivatives not designated as hedging instruments	$	487	$	420	$	—	$	937
Total Derivatives	$	4,086	$	8,657	$	210	$	1,448

(1) Included in other assets in our consolidated balance sheets.

(2) Included in other liabilities in our consolidated balance sheets.

Summary of Effect of Derivative Financial Instruments on Consolidated Statements of Operations

The following table presents the effect of our derivative financial instruments on our consolidated statements of operations ($ in thousands):

Derivatives in Hedging Relationships	Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)							Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
	Year Ended December 31,									Year Ended December 31,
	2016		2015			2014				2016			2015			2014
Net Investment Hedges
Foreign exchange contracts(1)	$	25,355	$	25,356		$	1,138		Interest Expense	$	—		$	—		$	—
Cash Flow Hedges
Interest rate derivatives		89		(1,474	)		—		Interest Expense		(798	)		(4	)		—
Total	$	25,444	$	23,882		$	1,138			$	(798	)	$	(4	)	$	—

(1) During the years ended December 31, 2016 and 2015, we received net cash settlements of $26.8 million and $18.8 million on our foreign currency forward contracts, respectively. Those amounts are included as a component of accumulated other comprehensive loss on our consolidated balance sheets. We did not receive net cash settlements on our foreign currency contracts during 2014.