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Derivatives (Tables)
 3 Months Ended
Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
(in millions of dollars)
Notional Value
 
Fair Value at
March 31, 2016 (1)
 
Fair Value at
December 31, 2015 (1)
 
Interest
Rate
 
Effective Date
 
Maturity Date
Interest Rate Swaps
 
 
 
 
 
 
 
 
 
 
$25.0
 
$
—

 
$
(0.1
)
 
1.10
%
 
 
 
July 31, 2016
28.1
 
(0.2
)
 
(0.2
)
 
1.38
%
 
 
 
January 2, 2017
33.0
 
N/A

 
—

 
3.72
%
 
 
 
December 1, 2017
48.0
 
(0.4
)
 
(0.1
)
 
1.12
%
 
 
 
January 1, 2018
7.6
 
—

 
—

 
1.00
%
 
 
 
January 1, 2018
55.0
 
(0.4
)
 
(0.1
)
 
1.12
%
 
 
 
January 1, 2018
30.0
 
(0.8
)
 
(0.5
)
 
1.78
%
 
 
 
January 2, 2019
20.0
 
(0.6
)
 
(0.4
)
 
1.78
%
 
 
 
January 2, 2019
20.0
 
(0.6
)
 
(0.3
)
 
1.78
%
 
 
 
January 2, 2019
20.0
 
(0.6
)
 
(0.3
)
 
1.79
%
 
 
 
January 2, 2019
20.0
 
(0.6
)
 
(0.3
)
 
1.79
%
 
 
 
January 2, 2019
20.0
 
(0.6
)
 
(0.3
)
 
1.79
%
 
 
 
January 2, 2019
25.0
 
(0.3
)
 
—

 
1.16
%
 
 
 
January 2, 2019
25.0
 
(0.3
)
 
—

 
1.16
%
 
 
 
January 2, 2019
25.0
 
(0.3
)
 
—

 
1.16
%
 
 
 
January 2, 2019
20.0
 
(0.2
)
 
—

 
1.16
%
 
 
 
January 2, 2019
20.0
 
(0.2
)
 
0.1

 
1.23
%
 
 
 
June 26, 2020
20.0
 
(0.2
)
 
0.2

 
1.23
%
 
 
 
June 26, 2020
20.0
 
(0.2
)
 
0.2

 
1.23
%
 
 
 
June 26, 2020
20.0
 
(0.2
)
 
0.2

 
1.23
%
 
 
 
June 26, 2020
20.0
 
(0.2
)
 
0.2

 
1.24
%
 
 
 
June 26, 2020
9.0
 
(0.1
)
 
N/A

 
1.19
%
 
 
 
February 1, 2021
48.0
 
(0.2
)
 
N/A

 
1.42
%
 
January 2, 2018
 
February 1, 2021
 
 
$
(7.2
)
 
$
(1.7
)
 
 
 
 
 
 
_________________________
(1) 
As of March 31, 2016 and December 31, 2015, derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy and we did not have any significant recurring fair value measurements related to derivative instruments using significant unobservable inputs (Level 3).
Effect of Our Derivative Financial Instruments on Our Consolidated Statements of Operations
The table below presents the effect of derivative financial instruments on our consolidated statements of operations and on our share of our partnerships’ statements of operations for the three months ended March 31, 2016 and 2015:
 
 
 
Three Months Ended 
 March 31,
 
Consolidated
Statements of
Operations 
Location
(in millions of dollars)
 
2016
 
2015
 
Derivatives in cash flow hedging relationships:
 
 
 
 
 
 
Interest rate products
 
 
 
 
 
 
Gain (loss) recognized in Other Comprehensive Income (Loss) on derivatives
 
$
(6.7
)
 
$
(1.7
)
 
N/A
Loss reclassified from Accumulated Other Comprehensive Income (Loss) into income (effective portion)
 
$
1.4

 
$
1.0

 
Interest expense
Loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)
 
$
(0.1
)
 
$
(0.5
)
 
Interest expense