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Derivatives (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following is a summary of the terms of our derivative and its fair value, which is included in Accounts Payable, Accrued Expenses and Other Liabilities on the accompanying consolidated balance sheets:



Hedge Product	Notional Amount		Strike		Trade Date	Maturity Date	Fair Value As of September 30, 2013		Fair Value As of December 31, 2012
Derivatives Not Designated as Hedging Instruments:
Series F Agreement*	$	50,000	5.2175	%	October 1, 2008	October 1, 2013	$	—	$	(826	)
_____________________


*	Fair value excludes quarterly settlement payment due on Series F Agreement. As of September 30, 2013 and December 31, 2012, the outstanding payable was $214 and $305, respectively.

Summary of Impact of Derivatives in Cash Flow Hedging Relationships on Statement of Operations and Statement of OCI

The following is a summary of the impact of the derivatives in cash flow hedging relationships on the statements of operations and the statements of OCI for the three and nine months ended September 30, 2013 and 2012:



Interest Rate Products	Location on Statement	Three Months Ended						Nine Months Ended
Interest Rate Products	Location on Statement	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
Amortization Reclassified from OCI into Income (Loss)	Interest Expense	$	(609	)	$	(579	)	$	(1,792	)	$	(1,690	)

Fair Value Measurements on Recurring Basis

The following table sets forth our financial liability that is accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012:



Description	Fair Value			Fair Value Measurements at Reporting Date Using:
Description	Fair Value			Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Unobservable Inputs (Level 3)
Liabilities:
Series F Agreement at September 30, 2013	$	—		—	—	$	—
Series F Agreement at December 31, 2012	$	(826	)	—	—	$	(826	)

Quantitative Information About Level 3 Fair Value Measurements

The following table presents the quantitative information about the Level 3 fair value measurements at September 30, 2013 and December 31, 2012:



	Quantitative Information about Level 3 Fair Value Measurements:
Description	Fair Value			Valuation Technique	Unobservable Inputs	Range
Series F Agreement at September 30, 2013	$	—		N/A	N/A	(A)
Series F Agreement at December 31, 2012	$	(826	)	Discounted Cash Flow	Long Dated Treasuries (B)	2.82% - 2.91%
					Own Credit Risk (C)	0.98% - 1.59%


(A)	The Series F Agreement matured on October 1, 2013.


(B)	Represents the forward 30 year Treasury CMT Rate.


(C)	Represents credit default swap spread curve used in the valuation analysis at December 31, 2012.

Reconciliation of Liabilities Classified as Level 3

The following table presents a reconciliation of our liability classified as Level 3 at September 30, 2013:



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Derivatives
Ending Liability Balance at December 31, 2012	$	(826	)
Mark-to-Market of the Series F Agreement	826
Ending Liability Balance at September 30, 2013	$	—

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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