Fair Value (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

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 September 30, 2020 (dollars in thousands):

	Non-designated Hedges Interest Rate Caps			Cash Flow Hedges Interest Rate Swaps
Notional balance	$	440,097		$	150,000
Weighted average interest rate (1)	1.7		%	N/A
Weighted average swapped/capped interest rate	6.5		%	0.7		%
Earliest maturity date	January 2021			May 2021
Latest maturity date	November 2021			May 2021

____________________________________

(1)For debt hedged by interest rate caps, represents the weighted average interest rate on the hedged debt prior to any impact of the associated interest rate cap.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the deferred losses reclassified from accumulated other comprehensive loss as a component of interest expense, net (dollars in thousands):

	For the three months ended				For the nine months ended
	9/30/2020		9/30/2019		9/30/2020		9/30/2019
Cash flow hedge losses reclassified to earnings	$	2,367	$	1,746	$	6,617	$	4,825

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 tables summarize 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):

	9/30/2020
Description	Total Fair Value		Quoted Prices in Active Markets for Identical Asset (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash Flow Hedges
Interest Rate Swaps - Assets	$	1,413	$	—	$	1,413	$	—
DownREIT units	(1,120)		(1,120)		—		—
Indebtedness
Fixed rate unsecured notes	(7,269,443)		(7,269,443)		—		—
Secured notes and variable rate unsecured indebtedness	(1,073,689)		—		(1,073,689)		—
Total	$	(8,342,839)	$	(7,270,563)	$	(1,072,276)	$	—

	12/31/2019
Description	Total Fair Value		Quoted Prices in Active Markets for Identical Asset (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash Flow Hedges
Interest Rate Swaps - Assets	$	388	$	—	$	388	$	—
Interest Rate Swaps - Liabilities	(6,379)		—		(6,379)		—
Puts	(206)		—		—		(206)
DownREIT units	(1,573)		(1,573)		—		—
Indebtedness
Fixed rate unsecured notes	(6,197,771)		(6,197,771)		—		—
Secured notes and variable rate unsecured indebtedness	(1,398,147)		—		(1,398,147)		—
Total	$	(7,603,688)	$	(6,199,344)	$	(1,404,138)	$	(206)