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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 (in thousands):

 

 

 

 

 

Fair Value

 

Derivative Instruments

 

Balance Sheet Classification

 

March 31, 2017

 

December 31, 2016

 

Interest Rate Swaps

 

Other Liabilities

 

$
116

 

$
30

 

 

 

 

 

 

 

 

 

 

 

 

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)

 

 

 

Net reclassification from AOCI
into income (effective portion)

 

 

 

For the quarter ended March 31,

 

Statement of earnings

 

For the quarter ended March 31,

 

Derivative Instruments

 

2017

 

2016

 

classification

 

2017

 

2016

 

Interest Rate Swaps

 

$
(134

)

$
(136

)

Interest expense

 

$
(48

)

$
(32

)