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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instrument Detail [Abstract]  
Fair Value of Cash Flow and Fair Value Derivative Instruments

The fair values of our cash flow and fair value derivative instruments on our Consolidated Balance Sheets as of December 31 are as follows: 

 

 

 

 

 

Asset Derivatives

 

 

 

 

Liability Derivatives

 

(Dollars in thousands)

 

Location

 

2017

 

 

2016

 

 

Location

 

2017

 

 

2016

 

Derivatives designated in fair value hedging relationships:

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

Other assets, current

 

$

13

 

 

$

32

 

 

 

 

$

—

 

 

$

—

 

Interest rate contracts

 

Other assets,

non-current

 

 

 

 

 

 

215

 

 

Other long-term obligations

 

 

 

 

 

 

91

 

 

 

 

 

$

13

 

 

$

247

 

 

 

 

$

—

 

 

$

91

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives designated in cash flow hedging relationships:

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

Other assets,

non-current

 

$

1,156

 

 

$

1,148

 

 

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Effect of Derivatives on Consolidated Statements of Income

The following table details the effect of derivatives on our Consolidated Statements of Income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Location

 

2017

 

 

2016

 

 

2015

 

Derivatives designated in fair value hedging relationships:

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized gain on interest rate contracts1

 

Interest expense

 

$

413

 

 

$

805

 

 

$

1,534

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives designated in cash flow hedging relationships:

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain (loss) recognized in other comprehensive income, net of tax (effective portion)

 

 

 

$

(145

)

 

$

916

 

 

$

—

 

Loss reclassified from accumulated other comprehensive income (effective portion)1

 

Interest expense

 

$

(149

)

 

$

(215

)

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

Lumber price contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized gain on lumber price swap

 

Gain on lumber price swap

 

$

1,088

 

 

$

—

 

 

$

—

 

 

1

Realized gains and losses on interest rate contracts consist of net cash received or paid and interest accruals on the interest rate swaps during the periods. Net cash received or paid is included in the supplemental cash flow information within interest, net of amounts capitalized in the Consolidated Statements of Cash Flows.