Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Swap Agreements, Cash Flow Hedge

The Company’s outstanding swap transaction is accounted for as a cash flow hedge and is recorded at fair value on the Condensed Consolidated Balance Sheet as of March 31, 2014 and December 31, 2013, at the following amounts (in thousands):


As of March 31, 2014	Notional Amount		Receive		Pay			Maturity Date		Fair Value Net Asset ⁽¹⁾
July 2012 Swap Transaction	$	150,000		Floating 1-month LIBOR		1.054	%		July 18, 2017	$	342


As of December 31, 2013	Notional Amount		Receive		Pay			Maturity Date		Fair Value Net Asset ⁽¹⁾
July 2012 Swap Transaction	$	150,000		Floating 1-month LIBOR		1.054	%		July 18, 2017	$	599

(1)

This interest rate derivative qualifies for hedge accounting, and is in a net asset position. Therefore, the fair value of the interest rate derivative is included in the Company’s Condensed Consolidated Balance Sheets as a component of “Other Assets,” with an offsetting component in “Stockholders’ Equity” as part of “Accumulated Other Comprehensive Loss”.

Schedule of Effect of Derivative Instruments on Income Statement

The following table depicts the effect of these derivative instruments on the statements of income and comprehensive income for the three-month periods ended March 31, 2014 and March 31, 2013.


	Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)						Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
	For the Three Months Ended March 31, 2014			For the Three Months Ended March 31, 2013				For the Three Months Ended March 31, 2014		For the Three Months Ended March 31, 2013
November 2007 Swap Transaction	$	—		$	(77	)	Interest expense, net	$	—	$	(228	)
July 2012 Swap Transaction		(159	)		(7	)	Interest expense, net		—		—