DERIVATIVE INSTRUMENTS

6 Months Ended

Jun. 30, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

7. DERIVATIVE INSTRUMENTS

In connection with the refinancing of the Concord Mortgage loan, we were required to provide interest rate protection on a portion of the loan amount through the loan’s maturity date. Therefore, we executed interest rate caps that cap the loan at an 8.00% interest rate through December 2016. The interest rate caps were not designated as hedges. We mark the interest rate caps to market and record the change to interest expense.

The following table summarizes the fair value of derivative instruments in our condensed consolidated balance sheets:

		Fair Value as of
	Balance Sheet Classification	June 30, 2013		December 31, 2012
Derivatives not designated as hedging instruments
Interest rate caps	Other assets	$	203	$	115

The following table summarizes the effect of derivatives not designated as hedging instruments in our condensed consolidated statements of income:

			Gain (Loss) Recognized (Pre-tax)
	Income Statement Classification		Three months ended June  30, 2013 Successor		Period May 5, 2012 through June 30, 2012 Successor			Period April 1, 2012 through May 4, 2012 Predecessor		Six months ended June 30, 2013 Successor		Period May 5, 2012 through June 30, 2012 Successor			Period January 1, 2012 through May 4, 2012 Predecessor
Derivatives not designated as hedging instruments
Interest rate caps		Interest expense	$	82		(144	)		0		87		(144	)	$	(34	)

For a description of the settlement of these interest rate caps in connection with the refinancing of certain of our debt that occurred after June 30, 2013, see the information provided under Note 11.