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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2016
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 tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of June 30, 2016 and December 31, 2015 (in thousands):

 

 

 

 

 

Fair Value

 

Derivative Instrument

 

Balance Sheet Classification

 

June 30, 2016

 

December 31, 2015

 

Interest Rate Swaps

 

Other Liabilities

 

$
149 

 

$
27 

 

 

 

 

 

 

 

 

 

 

 

 

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):

 

 

 

Net deferral in OCI of derivatives (effective portion)

 

 

 

For the quarter ended June 30,

 

For the six months ended June 30,

 

Derivative Instruments

 

2016

 

2015

 

2016

 

2015

 

Interest Rate Swaps

 

$
(48

)

$
(9

)

$
(184

)

$
(160

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net reclassification from AOCI into income (effective portion)

 

 

 

For the quarter ended June 30,

 

For the six months ended June 30,

 

Statement of earnings
classification

 

2016

 

2015

 

2016

 

2015

 

Interest expense

 

$
(30

)

$
(50

)

$
(62

)

$
(101

)