Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Tables)

v3.3.1.900
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 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 as of December 31, 2015 and December 31, 2014 (notional amounts and fair values in thousands):
 
 
 
 
 
 
 
 
 
 
Fair Value
Effective Date
 
Maturity Date
 
Notional Amount
 
Bank Pay Rate
 
Company Fixed Pay Rate
 
2015
 
2014
Assets (Liabilities):
 
 
 
 
 
 
 
 
 
 
 
 
November 14, 2013
 
August 14, 2018
 
$
50,000

 
1 month LIBOR
 
1.3075
%
 
$
(212
)
 
$
26

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.2970
%
 
(198
)
 
40

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.3025
%
 
(206
)
 
29

Total
 
 
 
$
150,000

 
 
 
 
 
$
(616
)
 
$
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 for the years ended December 31, 2015, 2014 and 2013, respectively (in thousands):
 
 
Location of Reclassification from Accumulated Other Comprehensive Income Into Income
 
 
 
 
 
December 31,
 
 
 
2015
 
2014
 
2013
Interest Rate Swaps (Effective Portion):
 
 
 
 
 
 
 
 
Amount of gain (loss) recognized in OCI on derivative
 
 
 
$
(711
)
 
$
(1,287
)
 
$
1,382

 
 
 
 
 
 
 
 
 
Treasury Rate Lock (Effective Portion):
 
 
 
 
 
 
 
 
Amount of gain reclassified from accumulated OCI into income
 
Interest Expense
 
$

 
$
741

 
$
371