Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of our derivative instruments measured as outlined above as of December 31, 2014 was as follows:

($ amounts in thousands)

	December 31,			Quoted Prices		Significant Other Observable Inputs			Significant Other Unobservable Inputs
Description	2014			Level 1		Level 2			Level 3
ASSETS
Current Assets
Derivatives	$	—		$	—	$	—		$	—
	$	—		$	—	$	—		$	—
LIABILITIES
Current Liabilities
Derivatives	$	(5,700	)	$	—	$	(5,700	)	$	—
	$	(5,700	)	$	—	$	(5,700	)	$	—

The following table summarizes the fair value and presentation in our consolidated balance sheets for derivative instruments as of December 31, 2014 and 2013:

($ amounts in thousands)

	Asset Derivatives			Liability Derivatives
		December 31, 2014	December 31, 2013		December 31, 2014			December 31, 2013
	Balance Sheet Location	Fair Value	Fair Value	Balance Sheet Location	Fair Value			Fair Value
Derivatives designated as hedging instruments under ASC 815
Interest rate cap contracts		—	—	Other Current Liabilities	$	(5,763	)	(4,002		)
Interest rate cap contracts		—	—	Other Non-Current Liabilities	$	(138	)	—
Interest rate cap contracts		—	—	Other Assets	201			2,813
Total derivatives designated as hedging instruments under ASC 815		—	—		$	(5,700	)	$	(1,189	)
Total derivatives		—	—		$	(5,700	)	$	(1,189	)

Offsetting Liabilities

The following tables summarize our eight interest cap agreements with a two counterparties. We separately record the short-term and long-term portion of our derivatives. As of December 31, 2014 each agreement represented a net liability for us and none of our interest cap agreements represented a net asset:

($ amounts in thousands)

Offsetting of Derivative Liabilities
As of December 31, 2014
											Gross Amounts Not Offset in the Statement of Financial Position
Description		Gross Amounts of Recognized Liabilities			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Liabilities Presented in the Statement of Financial Position			Financial Instruments		Cash Collateral Pledged		Net Amount
Derivatives by counterparty
	Counterparty 1	$	(3,820	)	$	(143	)	$	(3,963	)	$	143	$	—	$	(3,820	)
	Counterparty 2	(1,880		)	(58		)	(1,938		)	58		—		(1,880		)
Total		$	(5,700	)	$	(201	)	$	(5,901	)	$	201	$	—	$	(5,700	)

Offsetting Assets

($ amounts in thousands)

Offsetting of Derivative Assets
As of December 31, 2014
								Gross Amounts Not Offset in the Statement of Financial Position
Description		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Financial Instruments			Cash Collateral Pledged		Net Amount
Derivatives by counterparty
	Counterparty 1	$	—	$	143	$	143	$	(143	)	$	—	$	—
	Counterparty 2	—		58		58		(58		)	—		—
Total		$	—	$	201	$	201	$	(201	)	$	—	$	—

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes information about the fair values of our derivative instruments on the condensed consolidated statements of other comprehensive loss for the year ended December 31, 2014 and December 31, 2013 (Pre-tax):

	For the Year Ended
Other Comprehensive Income (Loss) Rollforward:	December 31, 2014			December 31, 2013
Beginning Balance Gain/(Loss) (Pre-tax)	$	(1,189	)	$	—
Amount Recognized in Other Comprehensive Loss on Derivative (Pre-tax)	(9,007		)	(2,203		)
Amount Reclassified from Other Comprehensive Loss into Interest Expense (Pre-tax)	4,496			1,014
Ending Balance Gain/(Loss) (Pre-tax)	$	(5,700	)	$	(1,189	)

Derivative Instruments, Gain (Loss)

The following table summarizes the effect and presentation of derivative instruments, including the effective portion or ineffective portion of our cash flow hedges, on the consolidated statements of operations for the periods ending December 31, 2014 and 2013:

($ amounts in thousands)

The Effect of Derivative Instruments on the Statement of Financial Performance
For the Year Ended December 31, 2014 and December 31, 2013
Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on Derivative (Effective Portion)					Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss) (Effective Portion)	Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Loss)  (Effective Portion)					Location of Gain or (Loss) Recognized in Income (Loss) on Derivative (Ineffective Portion )	Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion )
	2014			2013			2014			2013			2014		2013
Interest rate cap contracts	$	(9,007	)	(2,203	)	Interest Expense	$	(4,496	)	(1,014	)	Interest Expense	$	—	—
Total	$	(9,007	)	(2,203	)		$	(4,496	)	(1,014	)		$	—	$	—