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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Jun. 30, 2014
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Summary of fair value of the Company's derivative financial instruments which are included in accounts payable and accrued liabilities in the Consolidated Balance Sheet

 

 

 

 

June 30,

 

December 31,

 

 

 

2014

 

2013

 

 

 

(In thousands)

 

Interest Rate Swaps

 

$

4,076

 

$

4,164

 

Total derivatives designated as hedging instruments

 

$

4,076

 

$

4,164

 

Summary of effect of the Company's derivative financial instruments on the Condensed Consolidated Statements of Operations

 

 

 

 

Three Months Ended June 30,

 

 

 

Three Months Ended June 30,

 

 

 

2014

 

2013

 

 

 

2014

 

2013

 

Cash Flow Hedges

 

Amount of Loss
Recognized in OCI

 

Amount of Gain
Recognized in OCI

 

Location of Loss
Reclassified from
AOCI into Earnings

 

Amount of Loss
Reclassified from
AOCI into Earnings

 

Amount of Loss
Reclassified from
AOCI into Earnings

 

 

 

(In thousands)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swaps

 

$

(629

)

$

1,583

 

Interest Expense

 

$

(548

)

$

(528

)

 

 

$

(629

)

$

1,583

 

 

 

$

(548

)

$

(528

)

 

 

 

Six Months Ended June 30,

 

 

 

Six Months Ended June 30,

 

 

 

2014

 

2013

 

 

 

2014

 

2013

 

Cash Flow Hedges

 

Amount of Loss
Recognized in OCI

 

Amount of Gain
Recognized in OCI

 

Location of Loss
Reclassified from
AOCI into Earnings

 

Amount of Loss
Reclassified from
AOCI into Earnings

 

Amount of Loss
Reclassified from
AOCI into Earnings

 

 

 

(In thousands)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swaps

 

$

(971

)

$

1,486

 

Interest Expense

 

$

(1,089

)

$

(1,047

)

 

 

$

(971

)

$

1,486

 

 

 

$

(1,089

)

$

(1,047

)