Annual report pursuant to Section 13 and 15(d)

DERIVATIVES

v3.19.1
DERIVATIVES
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES
DERIVATIVES

The Company has no derivative assets as of December 31, 2018 as the remaining derivative instrument, an interest rate cap, was unwound upon the prepayment of the Traditional Golf term loan (see Note 7). This interest rate cap had a fair value of $0.3 million as of December 31, 2017 which was recorded within other assets on the Consolidated Balance Sheets. The Company had no derivative liabilities as of both December 31, 2018 and 2017.

The following table summarizes (gains) losses recorded in relation to derivatives:
 
Income Statement Location
 
Year Ended December 31,
Cash flow hedges
 
 
2018
 
2017
 
2016
Deferred hedge gain reclassified from AOCI into earnings
Interest expense, net
 
—

 
—

 
(20
)
 
 
 
 
 
 
 
 
Non-hedge derivatives
 
 
 
 
 
 
 
Unrealized loss (gain) on interest rate derivatives
Realized and unrealized (gain) loss on investments
 
$
96

 
$
199

 
$
(294
)
Unrealized loss (gain) recognized related to TBAs
Realized and unrealized (gain) loss on investments
 
—

 
371

 
(928
)
Realized (gain) loss on settlement of non-hedge derivatives, net
Realized and unrealized (gain) loss on investments
 
(227
)
 
4,669

 
(18,318
)