Interest Rate Derivative Instruments

3 Months Ended

Mar. 31, 2015

Interest Rate Derivative Instruments [Abstract]

Interest Rate Derivative Instruments

6. Interest Rate Derivative Instruments

The Company entered into interest rate swap agreements with a notional amount of $150 million on February 8, 2012, which were designated as cash flow hedges for hedge accounting, and matured on September 28, 2014.  For derivative instruments that are accounted for as hedges, the change in fair value for the effective portions of qualifying hedges is recorded through other comprehensive income (loss). The total amount of unrealized gains recorded in other comprehensive income (loss) for the three months ended March 31, 2014 was $0.1 million, with no unrealized gains or losses recorded for the three months ended March 31, 2015.  Interest expense related to payments on interest rate swaps for the three months ended March 31, 2014 was $0.2 million, with no interest expense recorded for the three months ended March 31, 2015.

As the interest rate swaps matured in September 2014, there were no amounts outstanding on the consolidated balance sheets relating to interest rate swaps as of March 31, 2015 and December 31, 2014.