Note 9 - Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2013

Disclosure Text Block [Abstract]

Comprehensive Income (Loss) Note [Text Block]

9 – Accumulated Other Comprehensive Income

In February 2013, the FASB issued guidance requiring entities to provide information about the amounts reclassified out of accumulated other comprehensive income (“AOCI”) by component. In addition, it requires entities to present, either on the face of the financial statement where net income is presented or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. This guidance is effective prospectively for annual and interim reporting periods beginning after December 15, 2012, with early adoption permitted. The amounts required to be disclosed under this guidance are below.

The following table shows the components of accumulated other comprehensive loss, net of tax, (in thousands):

	Cash Flow Swaps			Available for Sale Securities			Total
Balance as of December 31, 2012	$	(1,178	)	$	(578	)	$	(1,756	)
Changes in fair value		118			−			118
Amounts reclassified from accumulated other comprehensive loss		53			−			53
Net current period other comprehensive income		171			−			171
Balance as of March 31, 2013	$	(1,007	)	$	(578	)	$	(1,585	)
Changes in fair value		101			−			101
Amounts reclassified from accumulated other comprehensive loss		52			−			52
Net current period other comprehensive income		153			−			153
Balance as of June 30, 2013	$	(854	)	$	(578	)	$	(1,432	)
Changes in fair value		64			−			64
Amounts reclassified from accumulated other comprehensive loss		37			−			37
Net current period other comprehensive income		101			−			101
Balance as of September 30, 2013	$	(753	)	$	(578	)	$	(1,331	)

The following table shows the amount of loss reclassified from accumulated other comprehensive loss into earnings (in thousands):

	Three Months Ended						Nine Months Ended
	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
Losses on cash flow swaps to:
Interest expense	$	60		$	87		$	230		$	295
		60			87			230			295
Income tax benefit		(23	)		(33	)		(88	)		(114	)
Total reclassifications	$	37		$	54		$	142		$	181