Interest Rate Swap Agreements (Tables)

3 Months Ended

Mar. 31, 2014

Interest Rate Swap Agreements Designated as Hedge Agreements

Below is a summary of the Company’s current interest rate swap agreements designated as cash flow hedges as of March 31, 2014:


												Estimated
Nominal Amount		Effective Date	Pay Rate			Receive Rate	Expiration Date	Current Liability ⁽¹⁾		Long- Term Liability ⁽²⁾		Total Fair Value at March 31, 2014
$	175,000	December 2010		1.3975	%	1-Month LIBOR	September 2015	$	2,020	$	847	$	2,867
$	175,000	December 2010		1.4000	%	1-Month LIBOR	September 2015		2,040		851		2,891
$	100,000	November 2011		1.7150	%	1-Month LIBOR	April 2016		1,485		1,067		2,552

$	450,000							$	5,545	$	2,765	$	8,310

⁽¹⁾	Included in accounts payable and accrued expenses on the condensed consolidated balance sheet as of March 31, 2014.

⁽²⁾	Included in other long-term liabilities on the condensed consolidated balance sheet as of March 31, 2014.

Interest Rate Swap Agreement

Changes in Accumulated Other Comprehensive Loss, Net of Taxes, Related to Interest Rate Swap Agreements

The changes in accumulated other comprehensive loss, net of taxes, related to the Company’s interest rate swap agreements for the three months ended March 31, 2014 and 2013 were as follows:


	Interest Rate Swaps
	2014			2013
Beginning balances – January 1	$	(5,716	)	$	(8,867	)

Other comprehensive loss before reclassifications, net of taxes of $506 and $409		(979	)		(636	)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of taxes of $874 and $837		1,476			1,412

Net other comprehensive income	$	497		$	776

Ending balances – March 31	$	(5,219	)	$	(8,091	)