XML 23 R37.htm IDEA: XBRL DOCUMENT v3.2.0.727
Derivatives (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Derivative [Line Items]          
Derivative Instruments, Gain (Loss) [Table Text Block]    
Derivatives in FASB
ASC Topic 815 Cash
Flow Hedging
Relationships:
Amount of Gain (Loss)
Recognized in OCI on
Derivative (Effective
Portion)
 
Location and Amount of Gain
(Loss) Reclassified
from Accumulated
OCI into Income
(Effective Portion)
 
Location and Amount of Gain or
(Loss) Recognized in
Income on  Derivative
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
 
Three months ended June 30,
 
 
 
Three months ended June 30,
 
 
 
Three months ended June 30,
(in thousands)
2015
 
2014
 
 
 
2015
 
2014
 
 
 
2015
 
2014
Interest rate swaps
$
18,376

 
(11,153
)
 
Interest
expense
 
$
(2,250
)
 
(2,318
)
 
Other expenses
 
$
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives in FASB
ASC Topic 815 Cash
Flow Hedging
Relationships:
Amount of Gain (Loss)
Recognized in OCI on
Derivative (Effective
Portion)
 
Location and Amount of Gain
(Loss) Reclassified
from Accumulated
OCI into Income
(Effective Portion)
 
Location and Amount of Gain or
(Loss) Recognized in
Income on  Derivative
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
 
Six months ended June 30,
 
 
 
Six months ended June 30,
 
 
 
Six months ended June 30,
(in thousands)
2015
 
2014
 
 
 
2015
 
2014
 
 
 
2015
 
2014
Interest rate swaps
$
4,494

 
(24,953
)
 
Interest
expense
 
$
(4,500
)
 
(4,837
)
 
Other expenses
 
$
—

 
—



    
Document Period End Date     Jun. 30, 2015    
Document Fiscal Year Focus     2015    
Effective portion of change in fair value of derivative instruments $ 18,376,000 $ (11,153,000) $ 4,494,000 $ (24,953,000)  
Amount reclassified from accumulated other comprehensive loss (2,250,000) (2,318,000) (4,500,000) (4,837,000)  
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net 0 $ 0 0 $ 0  
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months     8,500,000    
Assets [Member]          
Derivative [Line Items]          
Derivative, Notional Amount 220,000,000   $ 220,000,000    
Derivative @ 2.196% 28.1K [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Oct. 16, 2013    
Derivative, Maturity Date     Oct. 16, 2020    
Derivative, Notional Amount $ 28,100,000   $ 28,100,000    
Derivative, Description of Variable Rate Basis     1 Month LIBOR    
Derivative, Fixed Interest Rate 2.196%   2.196%    
Derivative Asset, Fair Value, Gross Asset [1] $ 0   $ 0   $ 0
Derivative Liability, Fair Value, Gross Liability [1] (763,000)   $ (763,000)   (764,000)
Derivative B @ 2.479% 50K [Member] [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Aug. 01, 2015    
Derivative, Maturity Date     Aug. 01, 2025    
Derivative, Early Termination Date [2]     Feb. 01, 2016    
Derivative, Notional Amount $ 50,000,000   $ 50,000,000    
Derivative, Description of Variable Rate Basis     3 Month LIBOR    
Derivative, Fixed Interest Rate 2.479%   2.479%    
Derivative Asset, Fair Value, Gross Asset [1] $ (48,000)   $ (48,000)   0
Derivative Liability, Fair Value, Gross Liability [1] 0   $ 0   (193,000)
Derivative @ 2.479% 75K [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Aug. 01, 2015    
Derivative, Maturity Date     Aug. 01, 2025    
Derivative, Early Termination Date [2]     Feb. 01, 2016    
Derivative, Notional Amount $ 75,000,000   $ 75,000,000    
Derivative, Description of Variable Rate Basis     3 Month LIBOR    
Derivative, Fixed Interest Rate 2.479%   2.479%    
Derivative Asset, Fair Value, Gross Asset [1] $ (72,000)   $ (72,000)   0
Derivative Liability, Fair Value, Gross Liability [1] 0   $ 0   (289,000)
Derivative A @ 2.479% 50K [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Aug. 01, 2015    
Derivative, Maturity Date     Aug. 01, 2025    
Derivative, Early Termination Date [2]     Feb. 01, 2016    
Derivative, Notional Amount $ 50,000,000   $ 50,000,000    
Derivative, Description of Variable Rate Basis     3 Month LIBOR    
Derivative, Fixed Interest Rate 2.479%   2.479%    
Derivative Asset, Fair Value, Gross Asset [1] $ (48,000)   $ (48,000)   0
Derivative Liability, Fair Value, Gross Liability [1] 0   $ 0   (193,000)
Derivative @ 3.41% 45K [Member] [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Aug. 01, 2015    
Derivative, Maturity Date     Aug. 01, 2025    
Derivative, Early Termination Date [2]     Feb. 01, 2016    
Derivative, Notional Amount $ 45,000,000   $ 45,000,000    
Derivative, Description of Variable Rate Basis     3 Month LIBOR    
Derivative, Fixed Interest Rate 3.4115%   3.4115%    
Derivative Asset, Fair Value, Gross Asset [1] $ 0   $ 0   0
Derivative Liability, Fair Value, Gross Liability [1] (3,772,000)   $ (3,772,000)   (3,964,000)
Derivative @ 3.488% 20K [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Jun. 15, 2017    
Derivative, Maturity Date     Jun. 15, 2027    
Derivative, Early Termination Date [2]     Dec. 15, 2017    
Derivative, Notional Amount $ 20,000,000   $ 20,000,000    
Derivative, Description of Variable Rate Basis     3 Month LIBOR    
Derivative, Fixed Interest Rate 3.4875%   3.4875%    
Derivative Asset, Fair Value, Gross Asset [1] $ 0   $ 0   0
Derivative Liability, Fair Value, Gross Liability [1] (888,000)   $ (888,000)   (1,227,000)
Derivative @ 3.48% 100K [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Jun. 15, 2017    
Derivative, Maturity Date     Jun. 15, 2027    
Derivative, Early Termination Date [2]     Dec. 15, 2017    
Derivative, Notional Amount $ 100,000,000   $ 100,000,000    
Derivative, Description of Variable Rate Basis     3 Month LIBOR    
Derivative, Fixed Interest Rate 3.48%   3.48%    
Derivative Asset, Fair Value, Gross Asset [1] $ 0   $ 0   0
Derivative Liability, Fair Value, Gross Liability [1] (4,380,000)   (4,380,000)   (6,080,000)
Swap [Member]          
Derivative [Line Items]          
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months     $ 7,600,000    
Derivative @ 3.48% 100K 2 [Member]          
Derivative [Line Items]          
Derivative, Inception Date     Jun. 15, 2017    
Derivative, Maturity Date     Jun. 15, 2027    
Derivative, Early Termination Date [2]     Dec. 15, 2017    
Derivative, Notional Amount $ 100,000,000   $ 100,000,000    
Derivative, Description of Variable Rate Basis     3 Month LIBOR    
Derivative, Fixed Interest Rate 3.48%   3.48%    
Derivative Asset, Fair Value, Gross Asset [1] $ 0   $ 0   0
Derivative Liability, Fair Value, Gross Liability [1] (4,380,000)   (4,380,000)   (6,084,000)
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]          
Derivative [Line Items]          
Derivative Asset, Fair Value, Gross Asset [1] (168,000)   (168,000)   0
Derivative Liability, Fair Value, Gross Liability [1] $ (14,183,000)   $ (14,183,000)   $ (18,794,000)
2015 Debt Issuance [Member] | Derivative [Member]          
Derivative [Line Items]          
Derivative, Fixed Interest Rate 2.67%   2.67%    
2017 Debt issuance [Member] | Derivative [Member]          
Derivative [Line Items]          
Derivative, Fixed Interest Rate 3.48%   3.48%    
[1] (2) Derivatives in an asset position are included within Other Assets in the accompanying Consolidated Balance Sheets, while those in a liability position are included within Accounts Payable and Other Liabilities.
[2] Represents the date specified in the agreement for either optional or mandatory early termination which will result in cash settlement.