Derivatives (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative financial instruments on consolidated balance sheet

The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of June 30, 2019 and December 31, 2018 ($ in thousands)⁽¹⁾:

	Derivative Assets			Derivative Liabilities
As of June 30, 2019	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives Designated in Hedging Relationships
Interest rate swaps	Deferred expenses and other assets, net	$	228	Accounts payable, accrued expenses and other liabilities	$	8,720
Total		$	228		$	8,720

	Derivative Assets			Derivative Liabilities
As of December 31, 2018	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives Designated in Hedging Relationships
Interest rate swaps	Deferred expenses and other assets, net	$	3,669	Accounts payable, accrued expenses and other liabilities	$	10,244
Total		$	3,669		$	10,244

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(1)

Over the next 12 months, the Company expects that $4.4 million related to cash flow hedges will be reclassified from "Accumulated other comprehensive income (loss)" as a reduction to interest expense. As of June 30, 2019 and December 31, 2018, the Company posted cash collateral of $17.2 million and $6.4 million, respectively, in connection with its derivatives which were in a liability position and would not have been required to post any additional collateral to settle these contracts had the Company been declared in default on its derivative obligations.

Schedule of derivative financial instruments on consolidated statements of operations and comprehensive income

The tables below present the effect of the Company's derivative financial instruments, including the Company's share of derivative financial instruments at certain of its equity method investments, in the consolidated statements of operations and the consolidated statements of comprehensive income (loss) ($ in thousands):

Derivatives Designated in Hedging Relationships	Location of Gain (Loss) When Recognized in Income	Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income			Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings
For the Three Months Ended June 30, 2019
Interest rate swaps	Earnings from equity method investments	$	(8,036	)	$	9
Interest rate swaps	Interest expense	(12,951		)	(266		)
For the Three Months Ended June 30, 2018
Interest rate swaps	Interest Expense	(1,150		)	—
Interest rate swaps	Earnings from equity method investments	1,157			81
For the Six Months Ended June 30, 2019
Interest rate swaps	Earnings from equity method investments	(15,226		)	153
Interest rate swaps	Interest expense	(20,773		)	(417		)
For the Six Months Ended June 30, 2018
Interest rate swaps	Interest Expense	(1,150		)	—
Interest rate swaps	Earnings from equity method investments	3,508			90