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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Jun. 30, 2012
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Summary of fair value of the Company's derivative financial instruments

 

 

 

 

June 30,

 

December 31,

 

 

 

2012

 

2011

 

 

 

(In thousands)

 

Interest Rate Swaps

 

$

6,697

 

$

4,367

 

Total derivatives designated as hedging instruments

 

$

6,697

 

$

4,367

 

 

Summary of effect of the Company's financial instruments on the Condensed Consolidated Income Statement

 

 

 

 

Three months ended June 30,

 

 

 

Three months ended June 30,

 

 

 

2012

 

2011

 

 

 

2012

 

2011

 

 

 

 

 

 

 

Location of Gain

 

Amount of (Loss)

 

Amount of Gain or

 

 

 

Amount of (Loss)

 

Amount of Gain

 

(Loss) Reclassified

 

Reclassified from

 

(Loss) Reclassified

 

 

 

Recognized in

 

(Loss) Recognized in

 

from Accumulated

 

Accumulated OCI

 

from Accumulated

 

Cash Flow Hedges

 

OCI

 

OCI

 

OCI into Earnings

 

into Earnings

 

OCI into Earnings

 

 

 

(In thousands)

 

 

 

(In thousands)

 

Interest Rate Swaps

 

$

(2,770

)

$

 

Interest Expense

 

$

(507

)

$

 

 

 

$

(2,770

)

$

 

 

 

$

(507

)

$

 

 

 

 

Six months ended June 30,

 

 

 

Six months ended June 30,

 

 

 

2012

 

2011

 

 

 

2012

 

2011

 

 

 

 

 

 

 

Location of Gain

 

Amount of (Loss)

 

Amount of Gain or

 

 

 

Amount of (Loss)

 

Amount of Gain

 

(Loss) Reclassified

 

Reclassified from

 

(Loss) Reclassified

 

 

 

Recognized in

 

(Loss) Recognized in

 

from Accumulated

 

Accumulated OCI

 

from Accumulated

 

Cash Flow Hedges

 

OCI

 

OCI

 

OCI into Earnings

 

into Earnings

 

OCI into Earnings

 

 

 

(In thousands)

 

 

 

(In thousands)

 

Interest Rate Swaps

 

$

(3,161

)

$

 

Interest Expense

 

$

(1,000

)

$

 

 

 

$

(3,161

)

$

 

 

 

$

(1,000

)

$