Derivative Instruments

3 Months Ended

Mar. 31, 2018

Derivative Instruments [Abstract]

Derivative Instruments

Note 16 – Derivative Instruments

From time-to-time, we purchase interest rate derivative instruments to hedge the interest rate risk that results from the variability of our floating-rate borrowings. Our use of derivative transactions is intended to reduce long-term fluctuations in cash flows caused by market movements. All derivative instruments are recorded on the balance sheet at fair value with changes in fair value through interest expense in the Consolidated Statement of Income. As of March 31, 2018, we do not have material derivative positions nor have designated any of these derivatives as accounting hedges.