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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
Maturity Date
Aggregate Notional Value at June 30, 2018
(in millions of dollars)
 
Aggregate Fair Value at
June 30, 2018 (1)
(in millions of dollars)
 
Aggregate Fair Value at
December 31, 2017 (1) (in millions of dollars)
 
Weighted Average Interest
Rate
Interest Rate Swaps
 
 
 
 
 
 
 
   2018(2)
N/A

 
N/A

 
$
—

 
 
2019
$
250.0

 
$
1.0

 
0.8

 
1.44
%
2020
100.0

 
2.7

 
1.9

 
1.23
%
2021
398.2

 
12.6

 
7.0

 
1.57
%
2022
—

 
—

 
N/A

 
—
%
2023
50.0

 
0.3

 
N/A

 
2.62
%
Forward Starting Swaps
 
 
 
 
 
 
 
2023
250.0

 
0.9

 
N/A

 
2.71
%
Total
$
1,048.2

 
$
17.5

 
$
9.7

 
1.83
%

_________________________
(1) 
As of June 30, 2018 and December 31, 2017, 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).
(2) 
Three swaps matured in the first six months of 2018. As of December 31, 2017, these swaps had a notional value that totaled $110.6 million, had a weighted average interest rate of 1.11% and a de minimus fair value.
Effect of Our Derivative Financial Instruments on Our Consolidated Statements of Operations
The tables below present the effect of derivative financial instruments on accumulated other comprehensive income and on our consolidated statements of operations for the three and six months ended June 30, 2018 and 2017:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative Instruments
 
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Interest Expense
 
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative Instruments
 
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Interest Expense
(in millions of dollars)
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Derivatives in Cash Flow Hedging Relationships
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate products
 
$
3.8

 
$
(0.9
)
 
$
(0.6
)
 
$
0.7

 
$
8.9

 
$
0.1

 
$
(0.6
)
 
$
1.5



 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(in millions of dollars)
 
2018
 
2017
 
2018
 
2017
Total interest expense presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded
 
$
(16.0
)
 
$
(14.4
)
 
$
(30.9
)
 
$
(29.8
)
 
 
 
 
 
 
 
 
 
Amount of gain (loss) reclassified from accumulated other comprehensive income into interest expense
 
$
(0.6
)
 
$
0.7

 
$
(0.6
)
 
$
1.5