Quarterly report pursuant to Section 13 or 15(d)

Interest Rate Derivatives (Tables)

v2.3.0.15
Interest Rate Derivatives (Tables)
 9 Months Ended
Sep. 30, 2011
Interest Rate Derivatives  
Schedule of key terms and fair values of interest rate swap derivatives

 

 

 

 

 

 

 

 

 

 

 

Fair Value at

 

Notional

 

Fixed

 

Floating Rate

 

Effective

 

Expiration

 

September 30,

 

December 31,

 

Amount

 

Rate

 

Index

 

Date

 

Date

 

2011

 

2010

 

$

120,000

 

1.7600

%

One-Month LIBOR

 

1/2/2009

 

5/1/2012

 

$

(981

)

$

(2,062

)

100,000

 

1.9750

%

One-Month LIBOR

 

1/1/2010

 

5/1/2012

 

(943

)

(2,002

)

100,000

(1)

3.8415

%

Three-Month LIBOR

 

9/30/2011

 

9/30/2021

 

(15,766

)

N/A

 

75,000

(1)

3.8450

%

Three-Month LIBOR

 

9/30/2011

 

9/30/2021

 

(11,847

)

N/A

 

50,000

 

0.5025

%

One-Month LIBOR

 

1/3/2011

 

1/3/2012

 

(26

)

(64

)

50,000

 

0.5025

%

One-Month LIBOR

 

1/3/2011

 

1/3/2012

 

(26

)

(64

)

50,000

 

0.4400

%

One-Month LIBOR

 

1/4/2011

 

1/3/2012

 

(18

)

(34

)

40,000

(2)

3.8300

%

One-Month LIBOR

 

11/2/2010

 

11/2/2015

 

(1,022

)

644

 

 

 

 

 

 

 

 

 

 

 

$

(30,629

)

$

(3,582

)

 

(1) These instruments have a cash settlement date of March 30, 2012.

(2) The notional amount of this instrument is scheduled to amortize to $36.2 million.
Schedule of fair value and balance sheet classification of interest rate derivatives

 

Derivatives Designated as 

 

September 30, 2011

 

December 31, 2010

 

Hedging Instruments

 

Balance Sheet Location

 

Fair Value

 

Balance Sheet Location

 

Fair Value

 

Interest rate swaps

 

Prepaid expenses and other assets

 

$

—

 

Prepaid expenses and other assets

 

$

644

 

Interest rate swaps

 

Interest rate derivatives

 

(30,629

)

Interest rate derivatives

 

(4,226

)
Schedule of effect of interest rate derivatives on consolidated statements of operations and comprehensive income

 

 

 

 

For the Three Months

 

For the Nine Months

 

 

 

Ended September 30,

 

Ended September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Amount of loss recognized in AOCL (effective portion)

 

$

(21,869

)

$

(1,530

)

$

(30,463

)

$

(5,844

)

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

 

(1,179

)

(887

)

(3,446

)

(2,684

)