Derivatives and Hedging

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

Derivatives and Hedging

The table below presents the fair value of the Company’s derivative financial instruments as well as its classification on the consolidated balance sheet:

(in thousands)	June 30, 2018		December 31, 2017
Balance Sheet Location of Derivative Financial Instruments:
Prepaid expenses and other	$	4,577	$	2,411
Deferred charges and other assets, net	13,925		10,776
Total derivatives designated as hedging instruments	$	18,502	$	13,187

The table below summarizes changes in accumulated other comprehensive income (loss) by component:

	Six months ended June 30, 2018
(in thousands)	Gains (Losses) on Cash Flow Hedges		Income Tax (Expense) Benefit			Accumulated Other Comprehensive Income (Loss), net of taxes
Balance as of December 31, 2017	$	13,187	$	(4,957	)	$	8,230
Net change in unrealized gain (loss)	5,315		(1,420		)	3,895
Net current period other comprehensive income (loss)	5,315		(1,420		)	3,895
Balance as of June 30, 2018	$	18,502	$	(6,377	)	$	12,125

The outstanding notional amounts of the cash flow hedge were $406.1 million and $418.3 million as of June 30, 2018 and December 31, 2017, respectively.  See Note 7, Fair Value Measurements, for additional information.