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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2016  

Description

   June 30,
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

   $           578       $ —         $ 578       $ —     

Derivative asset - noncurrent

     852         —           852         —     

Derivative liability - current

     (2,361      —           (2,361      —     

Derivative liability - noncurrent

     (3,165      —           (3,165      —     
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ (4,096    $ —         $ (4,096    $ —     
  

 

 

    

 

 

    

 

 

    

 

 

 

 

            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 gain/
(loss) recognized in Other
Comprehensive Income on
Derivatives (effective portion)
    Location of gain/(loss)
reclassified from
Accumulated Other
Comprehensive Income
     Pre-tax amount of gain/(loss)
reclassified from Accumulated
Other Comprehensive Income
into Income (effective portion)
 

Derivatives’ Cash Flow Hedging Relationships

   June 30,
2016
    December 31,
2015
    into Income (effective
portion)
     June 30,
2016
    December 31,
2015
 

Forward starting interest rate swap contract

   $ (4,096   $ (3,015     Interest Expense       $ (927   $ —     
  

 

 

   

 

 

      

 

 

   

 

 

 
   $ (4,096   $ (3,015      $ (927   $ —