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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Effect of Financial Assets and Liabilities Valued on Recurring Basis

The following table summarizes the assets and liabilities measured at fair value on a recurring basis for our interest rate swap derivative financial instrument:

 

           Fair Value Measurements at March 31, 2016  

Description

  

March 31,

2016

    Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
     Significant Other
Observable Inputs
(Level 2)
    Significant
Unobservable
Inputs (Level 3)
 

Derivative Asset—current

   $ 463      $ —         $ 463      $ —     

Derivative Asset—noncurrent

     950        —           950        —     

Derivative Liability—current

     (2,258     —           (2,258     —     

Derivative Liability—noncurrent

     (3,172     —           (3,172     —     
  

 

 

   

 

 

    

 

 

   

 

 

 
   $ (4,017   $ —         $ (4,017   $ —     
  

 

 

   

 

 

    

 

 

   

 

 

 
          

 

Fair Value Measurements at December 31, 2015

 

Description

  

December 31,

2015

    Quoted Prices in
Active Markets

for Identical
Assets (Level 1)
     Significant Other
Observable Inputs
(Level 2)
    Significant
Unobservable
Inputs (Level 3)
 

Derivative Asset—current

   $ 388      $ —         $ 388      $ —     

Derivative Asset—noncurrent

     368        —           368        —     

Derivative Liability—current

     (2,098     —           (2,098     —     

Derivative Liability—noncurrent

     (1,673     —           (1,673     —     
  

 

 

   

 

 

    

 

 

   

 

 

 
   $ (3,015   $ —         $ (3,015   $ —     
  

 

 

   

 

 

    

 

 

   

 

 

 

Effect of Derivatives' Hedging Relationships
     Amount of after tax of gain/
(loss) recognized in Other
Comprehensive Income on
Derivatives (effective portion)
    Location of gain/(loss)
reclassified from
Accumulated Other
Comprehensive Income

into Income (effective
portion)
   Pre-tax amount of gain/(loss)
reclassified from Accumulated
Other Comprehensive Income
into Income (effective portion)
 

Derivatives’ Cash Flow Hedging Relationships

   March 31,
2016
    December 31,
2015
       March 31,
2016
    December 31,
2015
 

Forward starting interest rate swap contract

   $ (4,017   $ (3,015   Interest Expense    $ (461   $ —     
  

 

 

   

 

 

      

 

 

   

 

 

 
   $ (4,017   $ (3,015      $ (461   $ —