Annual report pursuant to Section 13 and 15(d)

Interest Rate Derivatives (Tables)

v2.4.0.6
Interest Rate Derivatives (Tables)
 12 Months Ended
Dec. 31, 2011
Interest Rate Derivatives  
Schedule of key terms and fair values of interest rate swap derivatives

 

 

 
    
    
    
    
   Fair Value at December 31,  
Notional
Amount 		  Fixed
Rate 		   
   Effective
Date 		  Expiration
Date 		 
  Floating Rate Index   2011   2010  
$ 50,000     0.5025 % One-Month LIBOR   1/3/2011   1/3/2012   $ (1 ) $ (64 )
  50,000     0.5025 % One-Month LIBOR   1/3/2011   1/3/2012     (1 )   (64 )
  50,000     0.4400 % One-Month LIBOR   1/4/2011   1/3/2012     —     (34 )
  120,000     1.7600 % One-Month LIBOR   1/2/2009   5/1/2012     (552 )   (2,062 )
  100,000     1.9750 % One-Month LIBOR   1/1/2010   5/1/2012     (532 )   (2,002 )
  100,000     0.6123 % One-Month LIBOR   1/3/2012   9/1/2014     55     N/A  
  100,000     0.6100 % One-Month LIBOR   1/3/2012   9/1/2014     56     N/A  
  100,000     0.8320 % One-Month LIBOR   1/3/2012   9/1/2015     (66 )   N/A  
  100,000     0.8320 % One-Month LIBOR   1/3/2012   9/1/2015     (49 )   N/A  
  39,213 (1)   3.8300 % One-Month LIBOR   11/2/2010   11/2/2015     (1,054 )   644  
  100,000 (2)   3.8415 % Three-Month LIBOR   9/30/2011   9/30/2021     (16,333 )   N/A  
  75,000 (2)   3.8450 % Three-Month LIBOR   9/30/2011   9/30/2021     (12,275 )   N/A  
  100,000 (2)   2.0525 % Three-Month LIBOR-Reverse   12/30/2011   9/30/2021     345     N/A  
  75,000 (2)   2.0525 % Three-Month LIBOR-Reverse   12/30/2011   9/30/2021     260     N/A  
                               
                        $ (30,147 ) $ (3,582 )
                               
(1)
The notional amount of this instrument is scheduled to amortize to $36.2 million.

(2)
As discussed below, these instruments were cash settled on January 5, 2012.
Schedule of fair value and balance sheet classification of interest rate derivatives

 

 

 
   December 31, 2011   December 31, 2010  
Derivatives
  Balance Sheet Location   Fair Value   Balance Sheet Location   Fair Value  

Interest rate swaps designated as cash flow hedges

   Prepaid expenses and other assets   $ 111   Prepaid expenses and other assets   $ 644  

Interest rate swaps not designated as hedges

   Prepaid expenses and other assets     605   N/A     N/A  

Interest rate swaps designated as cash flow hedges

   Interest rate derivatives     (2,255 ) Interest rate derivatives     (4,226 )

Interest rate swaps not designated as hedges

   Interest rate derivatives     (28,608 ) N/A     N/A  
Schedule of effect of interest rate derivatives on consolidated statements of operations and comprehensive income

 

 

 
   For the Years
Ended December 31, 		 
 
   2011   2010   2009  

Amount of loss recognized in AOCL (effective portion)

   $ (31,531 ) $ (5,473 ) $ (3,253 )

Amount of loss reclassified from AOCL into interest expense (effective portion)

     (4,601 )   (3,689 )   (6,680 )

Amount of loss reclassified from AOCL to loss on interest rate derivatives upon discontinuing hedge accounting

     28,430     —     —  

Amount of loss on interest rate derivatives recognized subsequent to such derivatives no longer being designated as hedges

     1,375     —     —  

Amount of loss recognized in interest expense (ineffective portion and amount excluded from effectiveness testing

     —     —     (261 )