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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2014
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of fair value of the Company's derivative financial instruments as well as their classification on the condensed consolidated balance sheets

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of March 31, 2014 (in thousands):

 

 

 

 

 

March 31, 2014

 

Derivative Instrument

 

Balance Sheet Location

 

Fair Value

 

Interest Rate Swaps

 

Prepaid expenses and other assets

 

$

32

 

 
Schedule of effect of the Company's derivative financial instruments on the condensed consolidated statement of income and comprehensive income

The effect of the Company’s derivative financial instruments on the condensed consolidated statement of income and comprehensive income is as follows (in thousands):

 

For the quarter ended March 31, 2014

 

For the quarter ended March 31, 2014

 

For the quarter ended March 31, 2014

 

Derivative
Instruments

 

Net deferral in
OCI of
derivatives
(effective
portion)

 

Statement of
earnings
classification

 

Net
reclassification
from AOCI into
income (effective
portion)

 

Statement of
earnings
classification

 

Amount recognized
in income (ineffective
portion and amount
excluded from
effectiveness testing)

 

Interest Rate Swaps

 

$

(68

)

Interest expense

 

$

(58

)

Other (expense)

 

$

—