Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.2.0.727
Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the terms and fair values of our derivative financial instruments, as well as their classifications within the consolidated balance sheets (in thousands):
 
 
 
 
 
 
 
 
 
 
Fair Value
Effective Date
 
Maturity Date
 
Notional Amount
 
Bank Pay Rate
 
Company Fixed Pay Rate
 
June 30, 2015
 
December 31, 2014
Assets (Liabilities):
 
 
 
 
 
 
 
 
 
 
 
 
November 14, 2013
 
August 14, 2018
 
$
50,000

 
1 month LIBOR
 
1.3075
%
 
$
(273
)
 
$
26

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.2970
%
 
(256
)
 
40

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.3025
%
 
(265
)
 
29

Total
 
 
 
$
150,000

 
 
 
 
 
$
(794
)
 
$
95

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements (in thousands):
 
 
Location of Reclassification from Accumulated OCI Into Income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended June 30,
 
Six months ended June 30,
 
 
 
2015
 
2014
 
2015
 
2014
Interest Rate Swaps (Effective Portion):
 
 
 

 

 
 
 
 
Amount of gain (loss) recognized in OCI on derivative
 
 
 
$
398

 
$
(1,018
)
 
$
(889
)
 
$
(1,338
)
 
 
 
 
 
 
 
 
 
 
 
Treasury Rate Lock (Effective Portion):
 
 
 

 

 
 
 
 
Amount of gain reclassified from accumulated OCI into income
 
Interest Expense
 
$

 
$
98

 
$

 
$
194