Derivative and Other Fair Value Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Summary of Consolidated Derivative Instruments

ThefollowingtablesummarizestheCompany’sconsolidatedderivativeinstrumentsatMarch31,2017(dollaramounts are inthousands):

	Fair Value Hedges (1)
Current Notional Balance	$	450,000
Indictative Interest Rate		2.375	%
Maturity Date		2019

(1) Fair Value Hedges – Converts outstanding fixed rate unsecured notes ($450.0 million 2.375% notes due July 1, 2019) to a floating interest rate of 90-Day LIBOR plus 0.61%.

Summary of Fair Value Measurements for Each Major Category of Assets and Liabilities Measured at Fair Value on Recurring Basis

Thefollowingtablesprovideasummaryofthefairvaluemeasurementsforeachmajorcategoryofassetsandliabilities measured at fair value on a recurring basis and the location within the accompanying consolidated balance sheets at March 31, 2017 and December 31, 2016, respectively (amounts inthousands):

				Fair Value Measurements at Reporting Date Using
Description	Balance Sheet Location	3/31/2017		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Derivatives designated as hedging    instruments:
Interest Rate Contracts:
Fair Value Hedges	Other Assets	$	751	$	—	$	751	$	—
Supplemental Executive Retirement Plan	Other Assets		130,480		130,480		—		—
Total		$	131,231	$	130,480	$	751	$	—
Liabilities
Supplemental Executive Retirement Plan	Other Liabilities	$	130,480	$	130,480	$	—	$	—
Total		$	130,480	$	130,480	$	—	$	—
Redeemable Noncontrolling Interests –
Operating Partnership/Redeemable
Limited Partners	Mezzanine	$	359,733	$	—	$	359,733	$	—

				Fair Value Measurements at Reporting Date Using
Description	Balance Sheet Location	12/31/2016		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Derivatives designated as hedging    instruments:
Interest Rate Contracts:
Fair Value Hedges	Other Assets	$	1,857	$	—	$	1,857	$	—
Supplemental Executive Retirement Plan	Other Assets		124,420		124,420		—		—
Total		$	126,277	$	124,420	$	1,857	$	—
Liabilities
Supplemental Executive Retirement Plan	Other Liabilities	$	124,420	$	124,420	$	—	$	—
Total		$	124,420	$	124,420	$	—	$	—
Redeemable Noncontrolling Interests –
Operating Partnership/Redeemable
Limited Partners	Mezzanine	$	442,092	$	—	$	442,092	$	—

Summary of Effect of Fair Value Hedges on the Accompanying Consolidated Statements of Operations and Comprehensive Income

ThefollowingtablesprovideasummaryoftheeffectoffairvaluehedgesontheCompany’saccompanyingconsolidated statements of operations and comprehensive income for the quarters ended March 31, 2017 and 2016, respectively (amounts in thousands):

March 31, 2017 Type of Fair Value Hedge	Location of Gain/(Loss) Recognized in Income on Derivative	Amount of Gain/(Loss) Recognized in Income on Derivative			Hedged Item	Income Statement Location of Hedged Item Gain/(Loss)	Amount of Gain/(Loss) Recognized in Income on Hedged Item
Derivatives designated as hedging instruments:
Interest Rate Contracts:
Interest Rate Swaps	Interest expense	$	(1,106	)	Fixed rate debt	Interest expense	$	1,106
Total		$	(1,106	)			$	1,106

March 31, 2016 Type of Fair Value Hedge	Location of Gain/(Loss) Recognized in Income on Derivative	Amount of Gain/(Loss) Recognized in Income on Derivative		Hedged Item	Income Statement Location of Hedged Item Gain/(Loss)	Amount of Gain/(Loss) Recognized in Income on Hedged Item
Derivatives designated as hedging instruments:
Interest Rate Contracts:
Interest Rate Swaps	Interest expense	$	6,878	Fixed rate debt	Interest expense	$	(6,878	)
Total		$	6,878			$	(6,878	)

Summary of Effect of Cash Flow Hedges on the Accompanying Consolidated Statements of Operations and Comprehensive Income

ThefollowingtablesprovideasummaryoftheeffectofcashflowhedgesontheCompany’saccompanyingconsolidated statements of operations and comprehensive income for the quarters ended March 31, 2017 and 2016, respectively (amounts in thousands):

	Effective Portion						Ineffective Portion
March 31, 2017 Type of Cash Flow Hedge	Amount of Gain/(Loss) Recognized in OCI on Derivative		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income			Location of Gain/(Loss) Recognized in Income on Derivative	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income
Derivatives designated as hedging instruments:
Interest Rate Contracts:
Forward Starting Swaps	$	—	Interest expense	$	(4,583	)	N/A	$	—
Total	$	—		$	(4,583	)		$	—

	Effective Portion							Ineffective Portion
March 31, 2016 Type of Cash Flow Hedge	Amount of Gain/(Loss) Recognized in OCI on Derivative			Location of Gain/(Loss) Reclassified from Accumulated OCI into Income	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income			Location of Gain/(Loss) Recognized in Income on Derivative	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income
Derivatives designated as hedging instruments:
Interest Rate Contracts:
Forward Starting Swaps	$	(2,906	)	Interest expense	$	(28,654	)	N/A	$	—
Total	$	(2,906	)		$	(28,654	)		$	—