| Schedule of summary of consolidated hedging derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale |
The following table summarizes the consolidated derivative positions at December 31, 2015 (dollars in thousands): | | | | | | | | | | | | | | | | Non-designated Hedges Interest Rate Caps | | Cash Flow Hedges Interest Rate Caps | | Cash Flow
Hedges Interest Rate Swaps | Notional balance | | $ | 725,832 |
| | $ | 36,731 |
| | $ | 600,000 |
| Weighted average interest rate (1) | | 1.8 | % | | 2.7 | % | | N/A |
| Weighted average swapped/capped interest rate | | 5.8 | % | | 5.9 | % | | 2.3 | % | Earliest maturity date | | February 2016 |
| | April 2019 |
| | May 2016 |
| Latest maturity date | | June 2020 |
| | April 2019 |
| | November 2017 |
|
_________________________________ | | (1) | For interest rate caps, represents the weighted average interest rate on the hedged debt. |
|
| Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis |
The following table summarizes the classification between the three levels of the fair value hierarchy of the Company's financial instruments measured/disclosed at fair value on a recurring basis (dollars in thousands): | | | | | | | | | | | | | | | | | Description | Total Fair Value | | Quoted Prices in Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | 12/31/2015 | Non Designated Hedges | | | | | | | | Interest Rate Caps | $ | 26 |
| | $ | — |
| | $ | 26 |
| | $ | — |
| Cash Flow Hedges | | | | | | | | Interest Rate Caps | 5 |
| | — |
| | 5 |
| | — |
| Interest Rate Swaps | 5,422 |
| | — |
| | 5,422 |
| | — |
| Put(s) | (8,181 | ) | | — |
| | — |
| | (8,181 | ) | DownREIT units | (1,381 | ) | | (1,381 | ) | | — |
| | — |
| Indebtedness | | | | | | | | Unsecured notes | (3,668,417 | ) | | (3,668,417 | ) | | — |
| | — |
| Mortgage notes payable and unsecured term loan | (2,700,341 | ) | | — |
| | (2,700,341 | ) | | — |
| Total | $ | (6,372,867 | ) | | $ | (3,669,798 | ) | | $ | (2,694,888 | ) | | $ | (8,181 | ) | | | | | | | | | | 12/31/2014 | Non Designated Hedges | | | | |
|
| | | Interest Rate Caps | $ | 50 |
| | $ | — |
| | $ | 50 |
| | $ | — |
| Cash Flow Hedges | | | | | | | | Interest Rate Caps | 58 |
| | — |
| | 58 |
| | — |
| Put(s) | (11,104 | ) | | — |
| | — |
| | (11,104 | ) | DownREIT units | (1,226 | ) | | (1,226 | ) | | — |
| | — |
| Indebtedness | | | | | | | | Unsecured notes | (2,874,147 | ) | | (2,874,147 | ) | | — |
| | — |
| Mortgage notes payable and unsecured term loan | (3,683,875 | ) | | — |
| | (3,683,875 | ) | | — |
| Total | $ | (6,570,244 | ) | | $ | (2,875,373 | ) | | $ | (3,683,767 | ) | | $ | (11,104 | ) |
|