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Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Fair Value of Company's Derivative Financial Instruments Classification on Consolidated Balance Sheet

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the accompanying consolidated balance sheet as of December 31, 2016 and 2015:

 

 

 

Liability Derivatives

 

 

Liability Derivatives

 

 

 

As of December 31, 2016

 

 

As of December 31, 2015

 

 

 

Balance Sheet

Location

 

Fair Value

 

 

Balance Sheet

Location

 

Fair Value

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

Other liabilities

 

$

 

 

Other liabilities

 

$

1,673

 

Forward interest rate swaps

 

Other liabilities

 

 

22,808

 

 

Other liabilities

 

 

17,927

 

Total derivatives designated as hedging instruments

 

 

 

$

22,808

 

 

 

 

$

19,600

 

 

Schedule of Pre-tax Effect of Derivative Financial Instruments on Consolidated Statements of Comprehensive (Loss) Income

Tabular Disclosure of the Effect of Derivative Instruments on the Statements of Comprehensive (Loss) Income

The table below presents the pre-tax effect of the Company’s derivative financial instruments on the accompanying consolidated statements of comprehensive (loss) income for the years ended December 31, 2016 and 2015:

 

 

 

2016

 

 

2015

 

Derivatives in Cash Flow Hedging Relationships:

 

 

 

 

 

 

 

 

Loss related to effective portion of derivatives recognized in accumulated other comprehensive loss

 

$

(9,938

)

 

$

(21,924

)

Gain related to effective portion of derivatives reclassified from accumulated other comprehensive loss to interest expense

 

$

6,669

 

 

$

3,154

 

Loss related to ineffective portion of derivatives recognized in other expense (income), net

 

$

(1

)

 

$

(287

)

 

Schedule of Changes in Accumulated Other Comprehensive Loss

Changes in Accumulated Other Comprehensive Loss

The following table reflects the changes in accumulated other comprehensive loss for the years ended December 31, 2016 and 2015, net of tax:

 

Accumulated other comprehensive loss:

 

(Losses) Gains on

Cash Flow Hedges

 

Accumulated other comprehensive loss

   at December 31, 2014

 

$

(483

)

Other comprehensive loss before reclassifications

 

 

(14,781

)

Amounts reclassified from accumulated other comprehensive loss to interest expense

 

 

2,127

 

Unrealized loss on derivatives, net of tax

 

 

(12,654

)

Accumulated other comprehensive loss

   at December 31, 2015

 

 

(13,137

)

Other comprehensive loss before reclassifications

 

 

(1,690

)

Amounts reclassified from accumulated other comprehensive loss to interest expense

 

 

1,133

 

Unrealized loss on derivatives, net of tax

 

 

(557

)

Accumulated other comprehensive loss

   at December 31, 2016

 

$

(13,694

)