Quarterly report pursuant to Section 13 or 15(d)

Derivatives (Tables)

v3.19.3
Derivatives (Tables)
9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Offsetting assets As of September 30, 2019 the information related to these offsetting arrangements were as follows (in thousands):
Instrument Description
 
Gross Amounts of Recognized Assets / Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts of Assets / Liabilities Included in the Consolidated Balance Sheet
Assets:
 
 
 
 
 
 
Derivatives
 
$
187

 
$
(145
)
 
$
42

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Derivatives
 
(91,106
)
 
145

 
(90,961
)
Total
 
$
(90,919
)
 
$

 
$
(90,919
)

As of December 31, 2018 the information related to these offsetting arrangements were as follows (in thousands):
Instrument Description
 
Gross Amounts of Recognized Assets / Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts of Assets / Liabilities Included in the Consolidated Balance Sheet
Assets:
 
 
 
 
 
 
Derivatives
 
$
6,958

 
$
(1,605
)
 
$
5,353

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Derivatives
 
(11,910
)
 
1,605

 
(10,305
)
Total
 
$
(4,952
)
 
$

 
$
(4,952
)

Offsetting liabilities As of September 30, 2019 the information related to these offsetting arrangements were as follows (in thousands):
Instrument Description
 
Gross Amounts of Recognized Assets / Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts of Assets / Liabilities Included in the Consolidated Balance Sheet
Assets:
 
 
 
 
 
 
Derivatives
 
$
187

 
$
(145
)
 
$
42

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Derivatives
 
(91,106
)
 
145

 
(90,961
)
Total
 
$
(90,919
)
 
$

 
$
(90,919
)

As of December 31, 2018 the information related to these offsetting arrangements were as follows (in thousands):
Instrument Description
 
Gross Amounts of Recognized Assets / Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheet
 
Net Amounts of Assets / Liabilities Included in the Consolidated Balance Sheet
Assets:
 
 
 
 
 
 
Derivatives
 
$
6,958

 
$
(1,605
)
 
$
5,353

 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
Derivatives
 
(11,910
)
 
1,605

 
(10,305
)
Total
 
$
(4,952
)
 
$

 
$
(4,952
)

Summary of derivative instruments classified as derivative assets
At September 30, 2019, the Company had the following derivative instruments (dollars in thousands):
Type
 
Quantity
 
Effective Dates
 
Maturity Dates
 
Hedge Interest Rates
 
Notional Amount
 
Adjusted Net Fair Market Value
Interest rate swap
 
1

 
4/29/2016
 
8/31/2022
 
1.27%- 1.29%
 
$
12,136

 
$
42

Interest rate swaps
 
8

 
7/31/2017 - 1/31/2018
 
4/30/2024 - 10/20/2024
 
2.16%- 2.39%
 
281,136

 
(9,741
)
Interest rate swaps
 
3

 
4/30/2021
 
10/30/2026 - 10/31/2026
 
2.89% - 3.08%
 
102,720

 
(8,395
)
Interest rate swaps
 
2

 
10/31/2019
 
4/30/2027
 
1.89% - 1.90%
 
19,680

 
(323
)
Interest rate swaps
 
2

 
10/31/2019
 
10/31/2031
 
1.44% - 1.50%
 
23,344

 
145

Interest rate swaps
 
4

 
1/31/2018 - 1/31/2020
 
4/30/2034 - 10/31/2034
 
2.62% - 2.78%
 
243,956

 
(27,249
)
Interest rate swaps
 
8

 
7/31/2017 - 10/18/2024
 
4/30/2035 - 10/31/2035
 
2.56% - 2.95%
 
275,851

 
(19,627
)
Interest rate swap
 
1

 
10/18/2024
 
1/31/2036
 
2.95%
 
14,656

 
(1,030
)
Interest rate swaps
 
3

 
1/31/2019 - 4/30/2021
 
4/30/2037
 
3.28% - 3.30%
 
100,000

 
(15,490
)
Interest rate swaps
 
3

 
10/30/2026 - 10/31/2026
 
1/31/2038
 
3.01% - 3.16%
 
101,135

 
(9,251
)
Total
 
 
 
 
 
 
 
 
 
$
1,174,614

 
$
(90,919
)