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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of interest rate swap contracts
The following table sets forth the key terms of our interest rate swap contracts:
Number of Interest
Rate Swaps(1)(2)
 
Total Notional
Amount
 
Fixed Rates
 
Floating Rate Index
 
Effective
Date
 
Expiration
Date
 
 
(in thousands)
 
 
 
 
 
 
 
 
10
 
$
385,000

 
1.559% - 1.569%
 
One-Month LIBOR
 
11/2/2015
 
5/8/2020
_______________________________________________________________________________

(1)
See Note 13 for our fair value disclosures.
(2)
Our interest rate swaps are not subject to master netting arrangements.
Schedule of changes in the balance of each component of AOCI related to our cash flow hedges
The changes in the balance of each component of AOCI related to our interest rate swaps designated as cash flow hedges are as follows:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2016
 
2015
 
2016
 
2015
 
 
(in thousands)
Accumulated other comprehensive income (loss), at beginning of period
 
$
(12,889
)
 
$
—

 
$
(2,519
)
 
$
—

Other comprehensive income (loss) before reclassifications
 
2,221

 
(6,312
)
 
(10,347
)
 
(6,312
)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
 
1,051

 
—

 
3,249

 
—

Net current period other comprehensive income (loss)
 
3,272

 
(6,312
)
 
(7,098
)
 
(6,312
)
Accumulated other comprehensive income (loss), at end of period
 
$
(9,617
)
 
$
(6,312
)
 
$
(9,617
)
 
$
(6,312
)
_______________________________________________________________________________

(1)
The amounts from AOCI are reclassified as an increase to interest expense in the statements of operations.