| Schedule of key terms and fair values of interest rate swap derivatives |
The following table sets forth the key terms and fair values of our interest rate swap derivatives (dollars in thousands):
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Fair Value at |
Notional Amount |
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Fixed Rate |
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Floating Rate Index |
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Effective Date |
|
Expiration Date |
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June 30,
2012 |
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December 31,
2011 |
$ |
100,000 |
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0.6123 |
% |
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One-Month LIBOR |
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1/3/2012 |
|
9/1/2014 |
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$ |
(490 |
) |
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$ |
55 |
|
100,000 |
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|
0.6100 |
% |
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One-Month LIBOR |
|
1/3/2012 |
|
9/1/2014 |
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(486 |
) |
|
56 |
|
100,000 |
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0.8320 |
% |
|
One-Month LIBOR |
|
1/3/2012 |
|
9/1/2015 |
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(1,062 |
) |
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(66 |
) |
100,000 |
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0.8320 |
% |
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One-Month LIBOR |
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1/3/2012 |
|
9/1/2015 |
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(1,058 |
) |
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(49 |
) |
38,844 |
|
(1) |
3.8300 |
% |
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One-Month LIBOR |
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11/2/2010 |
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11/2/2015 |
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(1,304 |
) |
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(1,054 |
) |
50,000 |
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0.5025 |
% |
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One-Month LIBOR |
|
1/3/2011 |
|
1/3/2012 |
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— |
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(1 |
) |
50,000 |
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0.5025 |
% |
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One-Month LIBOR |
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1/3/2011 |
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1/3/2012 |
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— |
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(1 |
) |
120,000 |
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|
1.7600 |
% |
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One-Month LIBOR |
|
1/2/2009 |
|
5/1/2012 |
|
— |
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(552 |
) |
100,000 |
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|
1.9750 |
% |
|
One-Month LIBOR |
|
1/1/2010 |
|
5/1/2012 |
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— |
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(532 |
) |
100,000 |
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(2) |
3.8415 |
% |
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Three-Month LIBOR |
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9/30/2011 |
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9/30/2021 |
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— |
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(16,333 |
) |
75,000 |
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(2) |
3.8450 |
% |
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Three-Month LIBOR |
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9/30/2011 |
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9/30/2021 |
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— |
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(12,275 |
) |
100,000 |
|
(2) |
2.0525 |
% |
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Three-Month LIBOR-Reverse |
|
12/30/2011 |
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9/30/2021 |
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— |
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345 |
|
75,000 |
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(2) |
2.0525 |
% |
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Three-Month LIBOR-Reverse |
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12/30/2011 |
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9/30/2021 |
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— |
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260 |
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$ |
(4,400 |
) |
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$ |
(30,147 |
) |
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(1) |
The notional amount of this instrument is scheduled to amortize to $36.2 million.
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(2) |
As described further in our 2011 Annual Report on Form 10-K, on January 5, 2012, we cash settled these instruments, along with interest accrued thereon, for an aggregate of $29.7 million. Our policy is to present payments to terminate interest rate swaps entered into in order to hedge forecasted interest payments as operating activities on our consolidated statement of cash flows. Accordingly, the payments to cash settle these instruments were included in net cash provided by operating activities on our consolidated statement of cash flows.
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On July 23, 2012, we entered into the following interest rate swap derivatives that were each designated as a cash flow hedge of interest rate risk (dollars in thousands):
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Notional Amount |
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Fixed Rate |
|
Floating Rate Index |
|
Effective Date |
|
Expiration Date |
$ |
100,000 |
|
|
0.8055 |
% |
|
One-Month LIBOR |
|
9/2/2014 |
|
9/1/2016 |
100,000 |
|
|
0.8100 |
% |
|
One-Month LIBOR |
|
9/2/2014 |
|
9/1/2016 |
100,000 |
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1.6730 |
% |
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One-Month LIBOR |
|
9/1/2015 |
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8/1/2019 |
100,000 |
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1.7300 |
% |
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One-Month LIBOR |
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9/1/2015 |
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8/1/2019 |
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