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Derivative Instruments; Fair Value (Tables)
6 Months Ended
Jun. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table represents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2012, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value:

 

    Amount as of                    
Description   6/30/2012     Level 1     Level 2     Level 3  
                         
Interest Rate Swap 2011   $ (5,000 )   $ -     $ (5,000 )   $ -  
                                 
    $ (5,000 )   $ -     $ (5,000 )   $ -  
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

Fair Values of Derivative Instruments in the Statement of Financial Position

 

 

Liability Derivatives

As of

June 30

2012

 

Derivatives not designated as hedging instruments under ASU 815

Balance Sheet Location

Fair Value

 

Interest Rate Contracts

Accrued Liabilities

$                                             (5,000)

 

 

 

 

 

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The Effect of Derivative Instruments on the Statement of Financial Performance

for the 3 month

 

 

 

period ending

June 30

2012

 

Derivatives not Designated as Hedging Instruments under ASU 815

Location of Gain (Loss) Recognized in Income on Derivative

Amount of Gain (Loss) Recognized in Income on Derivative

 

Interest Rate Contracts

Interest Expense

 $                              *  (16,000)

*Includes interest of $20,000 associated with variances between fixed and variable rates.

 

 

 

 

 

 

for the 6 month

 

 

 

period ending

June 30

2012

 

Derivatives not Designated as Hedging Instruments under ASU 815

Location of Gain (Loss) Recognized in Income on Derivative

Amount of Gain (Loss) Recognized in Income on Derivative

 

Interest Rate Contracts

Interest Expense

 $                              *  (51,000)

*Includes interest of $39,000 associated with variances between fixed and variable rates.