Derivative Instruments, Hedging Activities and Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments, Hedging Activities and Accumulated Other Comprehensive Income [Abstract]

Schedule of derivative financial instruments as well as its classification on the consolidated balance sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as its classification on the consolidated balance sheet as of September 30, 2013 and December 31, 2012 (in thousands; amounts in parentheses indicate debits):

	Derivatives
		Fair Value as of
	Balance Sheet	September 30,			December 31,
	Location	2013			2012
Derivatives not designated as hedging instruments:
Interest rate swaps	Accrued liabilities and other	$	-		$	239
		$	-		$	239
Derivatives designated as hedging instruments:
Interest rate swaps	Accrued liabilities and other	$	1,598		$	1,613
	Deferred charges, and other assets net		(5,019	)		(177	)
Total derivatives designated as hedging instruments		$	(3,421	)	$	1,436

Schedule of accumulated other comprehensive income (loss)

The table below presents change in accumulated other comprehensive income by component for the nine months ended September 30, 2013 (in thousands; amounts in parentheses indicate debits):

	Gains and (Losses) on Cash Flow Hedges			Income Taxes			Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2012	$	(1,436	)	$	573		$	(863	)
Other comprehensive income before reclassifications		3,623			(1,452	)		2,171
Amounts reclassified from accumulated other comprehensive income (to interest expense)		1,234			(496	)		738
Net current period other comprehensive income		4,857			(1,948	)		2,909
Balance as of September 30, 2013	$	3,421		$	(1,375	)	$	2,046