XML 39 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2018
Derivative Instrument Detail [Abstract]  
Fair Values of Derivative Instruments

The following table presents the gross fair values of derivative instruments on our Condensed Consolidated Balance Sheets:

 

 

 

 

Asset Derivatives

 

 

 

 

Liability Derivatives

 

(Dollars in thousands)

 

Location

 

September 30, 2018

 

 

December 31, 2017

 

 

Location

 

September 30, 2018

 

 

December 31, 2017

 

Derivatives designated in fair value hedging relationships:

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

Other assets, current

 

$

—

 

 

$

13

 

 

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives designated in cash flow hedging relationships:

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

Other assets,

non-current

 

$

3,392

 

 

$

1,156

 

 

 

 

$

—

 

 

$

—

 

 
Effect of Derivatives on Consolidated Statements of Income

 

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

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(Dollars in thousands)

 

Location

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Derivatives designated in fair value hedging relationships:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized gain (loss) on interest rate contracts1

 

Interest expense

 

$

(52

)

 

$

76

 

 

$

(138

)

 

$

366

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives designated in cash flow hedging relationships:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

$

1,330

 

 

$

(30

)

 

$

1,394

 

 

$

(258

)

Loss reclassified from accumulated other comprehensive income1

 

Interest expense

 

$

(261

)

 

$

(30

)

 

$

(456

)

 

$

(121

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Lumber price contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized gain on lumber price swap

 

 

 

$

—

 

 

$

986

 

 

$

—

 

 

$

986

 

Unrealized gain (loss) on lumber price swap

 

Gain (loss) on lumber price swap

 

$

—

 

 

$

(3,067

)

 

$

—

 

 

$

199

 

Net gain (loss) on lumber price contracts

 

 

 

$

—

 

 

$

(2,081

)

 

$

—

 

 

$

1,185

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

 

$

10,109

 

 

$

7,336

 

 

$

25,125

 

 

$

19,654

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

Realized gain (loss) on hedging instruments consist of net cash settlements and interest accruals on interest rate swaps during the periods. Net cash settlements are included in the supplemental cash flow information within interest, net of amounts capitalized in the Condensed Consolidated Statements of Cash Flows.