DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of fair value of the Company's derivative financial instruments

The following table summarizes certain terms of the Company's derivative contracts:

					Fixed				Fair Value Asset (Liability)
			Notional		Interest		Effective	Maturity	December 31,			December 31,
(In thousands)		Balance Sheet Location	Amount		Rate (a)		Date	Date	2018			2017
Derivative instruments not designated as hedging instruments:
Interest Rate Cap	(b)	Prepaid expenses and other assets, net	$	75,000	5.00	%	9/1/2017	8/31/2019	$	—		$	—
Interest Rate Cap	(b)	Prepaid expenses and other assets, net	230,000		2.50	%	12/22/2016	12/23/2019	333			164
Derivative instruments designated as hedging instruments:
Interest Rate Swap	(c)	Accounts payable and accrued expenses	18,926		2.96	%	5/10/2011	10/31/2019	—			(286		)
Interest Rate Swap	(d)	Prepaid expenses and other assets, net	40,000		1.66	%	5/6/2015	5/1/2020	—			299
Interest Rate Swap	(d)	Prepaid expenses and other assets, net	119,359		1.14	%	10/3/2016	9/12/2021	—			4,007
Interest Rate Swap	(e)	Accounts payable and accrued expenses	50,000		2.65	%	12/31/2017	12/31/2027	—			(1,124		)
Interest Rate Swap	(e)	Accounts payable and accrued expenses	100,000		2.68	%	12/31/2017	12/31/2027	—			(2,509		)
Interest Rate Swap	(e)	Accounts payable and accrued expenses	100,000		2.62	%	12/31/2017	12/31/2027	—			(2,042		)
Interest Rate Collar	(f)	Prepaid expenses and other assets, net	51,592		1.50% - 2.50%		7/1/2018	5/1/2019	13			—
Interest Rate Collar	(f)	Accounts payable and accrued expenses	193,967		2.00% - 3.00%		5/1/2019	5/1/2020	(37		)	—
Interest Rate Collar	(f)	Accounts payable and accrued expenses	354,217		2.25% - 3.25%		5/1/2020	5/1/2021	(730		)	—
Interest Rate Collar	(f)	Accounts payable and accrued expenses	381,404		2.75% - 3.50%		5/1/2021	4/30/2022	(1,969		)	—
Interest Rate Swap	(g)	Accounts payable and accrued expenses	615,000		2.96	%	9/21/2018	9/18/2023	(13,781		)	—
Total fair value derivative assets									$	346		$	4,470
Total fair value derivative liabilities									$	(16,517	)	$	(5,961	)

(a) These rates represent the strike rate on HHC's interest swaps, caps and collars.

(b) Interest (income) expense of $(0.2) million is included in the Consolidated Statements of Operations for the year ended December 31, 2018 related to these contracts.

(c) On January 19, 2018, the Company repaid in full the $18.9 million mortgage loan for 110 North Wacker and settled the related swap liability of $0.3million.

(d) On September 21, 2018, the Company settled $40.0millionand $119.4millionin interest rate swaps.

(e) On May 17, 2018, the Company settled $250.0million in forward starting swaps.

(f) On May 17, 2018 and May 18, 2018, the Company entered into interest rate collars which are designated as cash flow hedges.

(g) Concurrent with the funding of the new $615.0millionTerm Loan discussed in Note 7 - Mortgages, Notes and Loans Payable, Net, on September 21, 2018, the Company entered into this interest rate swap which is designated as a cash flow hedge.

Summary of effect of the Company's derivative financial instruments on the Condensed Consolidated Statements of Operations

The tables below present the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations for the years ended December 31, 2018, 2017 and 2016:

	Amount of Gain (Loss) Recognized
	in AOCI on Derivative
	December 31,
Derivatives in Cash Flow Hedging Relationships	2018		2017			2016
Interest rate derivatives	$	2,090	$	(726	)	$	831

	Amount of Gain (Loss) Reclassified from
	AOCI into Operations
	December 31,
Location of Loss Reclassified from AOCI into Operations	2018		2017			2016
Interest expense	$	1,135	$	(905	)	$	(1,364	)

	Total Interest Expense Presented
	in the Results of Operations in which
	the Effects of Cash Flow Hedges are Recorded
	December 31,
Interest Expense Presented in Results of Operations	2018		2017		2016
Interest expense	$	82,028	$	64,568	$	65,724