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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
Below is a summary of Regal Cinemas' current interest rate swap agreements as of December 31, 2015:
Nominal Amount
 
Effective Date
 
Fixed Rate
 
Receive Rate
 
Expiration Date
Designated as Cash Flow Hedge
Gross Fair Value at December 31, 2015
Balance Sheet Location
$150.0 million
 
April 2, 2015
 
1.220%
 
1-month LIBOR*
 
December 31, 2016
Yes
$0.5 million
See Note 14
$200.0 million
 
June 30, 2015
 
2.165%
 
1-month LIBOR*
 
June 30, 2018
Yes
$4.5 million
See Note 14
________________________________
* Subject to a 0.75% LIBOR floor
Derivative Instruments, Gain (Loss)
The following tables show the effective portion of gains and losses on derivative instruments designated and qualifying in cash flow hedges recognized in other comprehensive income (loss), and amounts reclassified from accumulated other comprehensive loss to interest expense for the periods indicated (in millions):

 
 
After-tax Gain (Loss) Recognized in Other Comprehensive Income (Loss) (Effective Portion)
 
 
Year Ended
December 31, 2015
 
Year Ended
January 1, 2015
 
Year Ended
December 26, 2013
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
Interest rate swaps
 
$
(4.3
)
 
$
(2.1
)
 
$
(0.2
)


 
 
Pre-tax Amounts Reclassified from Accumulated Other Comprehensive Loss into Interest Expense, net
 
 
Year Ended
December 31, 2015
 
Year Ended
January 1, 2015
 
Year Ended
December 26, 2013
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
Interest rate swaps(1)
 
$
7.4

 
$
5.2

 
$
4.2

________________________________
(1)
We estimate that $2.4 million of deferred pre-tax losses attributable to these interest rate swaps will be reclassified into earnings as interest expense during the next 12 months as the underlying hedged transactions occur.
The following table sets forth the effect of our interest rate swap arrangements on our consolidated statements of income for the years ended December 31, 2015, January 1, 2015, and December 26, 2013 (in millions):
 
Pre-tax Gain (Loss) Recognized in Interest Expense, net
 
Year Ended
December 31, 2015
 
Year Ended
January 1, 2015
 
Year Ended
December 26, 2013
Derivatives designated as cash flow hedges (ineffective portion):
 
 
 
 
 
Interest rate swaps(1)
$
1.9

 
$
—

 
$
—

 
 
 
 
 
 
Derivatives not designated as cash flow hedges:
 
 
 
 
 
Interest rate swaps (2)
$
1.5

 
$
—

 
$
—

 ________________________________
(1)
Amounts represent the ineffective portion of the change in fair value of the hedging derivatives and are recorded as a reduction of interest expense in the consolidated financial statements.

(2)
Amounts represent the change in fair value of the former hedging derivatives and are recorded as a reduction of interest expense in the consolidated financial statements.
Schedule of Accumulated Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive loss, net associated with the Company’s interest rate swap arrangements for the years ended December 31, 2015, January 1, 2015, and December 26, 2013 were as follows (in millions):
 
Interest Rate Swaps
 
Year Ended
December 31, 2015
 
Year Ended
January 1, 2015
 
Year Ended
December 26, 2013
Accumulated other comprehensive loss, net, beginning of period
$
(2.9
)
 
$
(4.0
)
 
$
(6.3
)
Change in fair value of interest rate swap transactions (effective portion), net of taxes of $2.8, $1.3, and $0.1 respectively
(4.3
)
 
(2.1
)
 
(0.2
)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of taxes of ($2.9), ($2.0) and ($1.7), respectively
4.5

 
3.2

 
2.5

Accumulated other comprehensive loss, net, end of period
$
(2.7
)
 
$
(2.9
)
 
$
(4.0
)
The following tables present for the years ended December 31, 2015 and January 1, 2015, the change in accumulated other comprehensive loss, net by component (in millions):
 
Interest rate swaps
 
Available for sale securities
 
Equity method investee interest rate swaps
 
Total
Balance as of January 1, 2015
$
(2.9
)
 
$
0.7

 
$
0.7

 
$
(1.5
)
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Change in fair value of interest rate swap transactions
(4.3
)
 
—

 
—

 
(4.3
)
Amounts reclassified to net income from interest rate swaps
4.5

 
—

 
—

 
4.5

Change in fair value of available for sale securities
—

 
(0.2
)
 
—

 
(0.2
)
Change in fair value of equity method investee interest rate swaps
—

 
—

 
(0.6
)
 
(0.6
)
Total other comprehensive income (loss), net of tax
0.2

 
(0.2
)
 
(0.6
)
 
(0.6
)
Balance as of December 31, 2015
$
(2.7
)
 
$
0.5

 
$
0.1

 
$
(2.1
)

 
Interest rate swaps
 
Available for sale securities
 
Equity method investee interest rate swaps
 
Total
Balance as of December 26, 2013
$
(4.0
)
 
$
0.2

 
$
1.4

 
$
(2.4
)
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Change in fair value of interest rate swap transactions
(2.1
)
 
—

 
—

 
(2.1
)
Amounts reclassified to net income from interest rate swaps
3.2

 
—

 
—

 
3.2

Change in fair value of available for sale securities
—

 
1.1

 
—

 
1.1

Reclassification adjustment for gain on sale of available for sale securities recognized in net income
—

 
(0.6
)
 
—

 
(0.6
)
Change in fair value of equity method investee interest rate swaps
—

 
—

 
(0.7
)
 
(0.7
)
Total other comprehensive income (loss), net of tax
1.1

 
0.5

 
(0.7
)
 
0.9

Balance as of January 1, 2015
$
(2.9
)
 
$
0.7

 
$
0.7

 
$
(1.5
)