Interest Rate Swap Agreements (Tables)

9 Months Ended

Sep. 30, 2013

Summary of Interest Rate Swap Agreements Designated as Hedge Agreements

Below is a summary of the Company’s current interest rate swap agreements designated as cash flow hedges as of September 30, 2013:


									Estimated
Nominal Amount	Effective Date	Pay Rate	Receive Rate	Expiration Date	Current Liability ⁽¹⁾		Long- Term Liability ⁽²⁾		Total Fair Value at September 30, 2013
$175,000	December 2010	1.3975%	1-Month LIBOR	September 2015	$	1,961	$	1,624	$	3,585
$175,000	December 2010	1.4000%	1-Month LIBOR	September 2015		1,991		1,614		3,605
$100,000	November 2011	1.7150%	1-Month LIBOR	April 2016		1,437		1,623		3,060

$450,000					$	5,389	$	4,861	$	10,250

⁽¹⁾	Included in accounts payable and accrued expenses on the condensed consolidated balance sheet as of September 30, 2013.

⁽²⁾	Included in other long-term liabilities on the condensed consolidated balance sheet as of September 30, 2013.

Interest Rate Swap Agreement

Changes in Accumulated Other Comprehensive Loss, Net of Taxes, Related to Interest Rate Swap Agreements

The changes in accumulated other comprehensive loss, net of taxes, related to the Company’s interest rate swap agreements for the three months ended September 30, 2013 and 2012 were as follows:


	Interest Rate Swaps
	2013			2012
Beginning balances – July 1	$	(6,501	)	$	(10,338	)

Other comprehensive loss before reclassifications, net of taxes		(1,352	)		(5,000	)
Amounts reclassified from accumulated other comprehensive loss to interest expense		1,467			5,415

Net other comprehensive income	$	115		$	415

Ending balances – September 30	$	(6,386	)	$	(9,923	)

The changes in accumulated other comprehensive loss, net of taxes, related to the Company’s interest rate swap agreements for the nine months ended September 30, 2013 and 2012 were as follows:


	Interest Rate Swaps
	2013			2012
Beginning balances – January 1	$	(8,867	)	$	(12,358	)

Other comprehensive loss before reclassifications, net of taxes		(1,866	)		(11,219	)
Amounts reclassified from accumulated other comprehensive loss to interest expense		4,347			13,654

Net other comprehensive income	$	2,481		$	2,435

Ending balances – September 30	$	(6,386	)	$	(9,923	)