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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2013
Fair Value Measurements  
Summary of the basis used to measure certain financial assets and financial liabilities at fair value on a recurring basis

 

 

 

 

 

 

Basis of Fair Value Measurments

 

 

 

Balance at
March 31,
2013

 

Quoted
Prices In
Active
Markets
for
Identical
Items
(Level 1)

 

Significant
Other
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Interest rate swap derivative financial instruments (included in accrued expenses)

 

$

18

 

$

 

$

18

 

$

 

 

 

 

 

 

 

 

 

 

 

Fuel commodity derivatives (included in current assets)

 

$

16

 

$

 

$

 

$

16

 

Schedule of fuel commodity derivative activity

 

 

Balance, December 31, 2012

 

$

(37

)

Realized gains

 

 

Unrealized gains

 

53

 

Settlements

 

 

Balance, March 31, 2013

 

$

16

 

Schedule of details of each remaining interest rate Swap Agreement

 

 

 

 

 

 

Notional

 

Notional

 

 

 

 

 

 

 

Original

 

Amount

 

Amount

 

 

 

 

 

Date of

 

Notional

 

Fixed/

 

March 31,

 

Expiration

 

Fixed

 

Origin

 

Amount

 

Amortizing

 

2013

 

Date

 

Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

May 8, 2008

 

$

45,000

 

Amortizing

 

$

25,000

 

Apr 1, 2013

 

3.78

%

May 8, 2008

 

$

40,000

 

Amortizing

 

$

21,000

 

Apr 1, 2013

 

3.78

%

Schedule of impact of the derivative instruments on the Condensed Consolidated Balance Sheets

Fair Values of Derivative Instruments

 

 

 

Liability Derivatives

 

 

 

December 31, 2012

 

March 31, 2013

 

 

 

Balance Sheet
Location

 

Fair Value

 

Balance Sheet
Location

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

Accrued expenses

 

$

 

Accrued expenses

 

$

 

Interest rate contracts

 

Other liabilites

 

 

Other liabilites

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

Accrued expenses

 

406

 

Accrued expenses

 

18

 

Fuel commodity derivatives

 

Accrued expenses

 

37

 

Current Assets

 

(16

)

 

 

 

 

 

 

 

 

 

 

Total derivatives

 

 

 

$

443

 

 

 

$

2

 

Schedule of effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income

The Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income

for the three months ended March 31, 2012 and 2013

 

 

 

 

 

 

 

Amount of Loss

 

 

 

 

 

 

 

 

 

 

 

Location of Loss

 

Reclassified from

 

 

 

 

 

 

 

 

 

Amount of Loss Recognized

 

Reclassified from

 

Accumulated OCI into

 

 

 

Location of

 

Amount of Gain or (Loss)

 

Derivatives in

 

in OCI on Derivative

 

Accumulated

 

Income (Effective

 

Derivatives Not

 

Gain or (Loss)

 

Recognized in Income on

 

Net Investment

 

(Effective Portion)

 

OCI into Income

 

Portion)

 

Designated as

 

Recognized in

 

Derivative

 

Hedging

 

March 31,

 

(Effective

 

March 31,

 

Hedging

 

Income on

 

March 31,

 

Relationships

 

2012

 

2013

 

Portion)

 

2012

 

2013

 

Instruments

 

Derivative

 

2012

 

2013

 

Interest rate contracts:

 

 

 

 

 

Interest expense, including the change in the fair value of non-hedged derivative instruments:

 

 

 

 

 

Interest rate contracts:

 

Interest expense, including the change in the fair value of non-hedged derivative instruments:

 

 

 

 

 

Unrealized

 

$

(67

)

$

 

Unrealized

 

$

(301

)

$

(207

)

 

 

Unrealized

 

$

390

 

$

388

 

Realized

 

(162

)

 

Realized

 

(162

)

 

 

 

Realized

 

(293

)

(398

)

Total

 

$

(229

)

$

 

Total

 

$

(463

)

$

(207

)

 

 

Total

 

$

97

 

$

(10

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel commodity derivatives:

 

 

 

 

 

Cost of revenue:

 

 

 

 

 

Fuel commodity derivatives:

 

Cost of revenue:

 

 

 

 

 

Unrealized

 

$

 

$

 

Unrealized

 

$

 

$

 

 

 

Unrealized

 

$

250

 

$

53

 

Realized

 

 

 

Realized

 

 

 

 

 

Realized

 

13

 

 

Total

 

$

 

$

 

Total

 

$

 

$

 

 

 

Total

 

$

263

 

$

53