Derivatives - Interest Rate Swap Agreements (Tables)

12 Months Ended

Dec. 31, 2012

Hedging Exposure Future Cash Flows For Forecasted Transactions

The table below shows the remaining term of the Company’s interest rate swaps as of December 31, 2012.

Maturity	Notional Amount		Remaining Term in Months	Weighted Average Fixed Interest Rate in Contract
12 months or less	$	800,000	6		2.05	%
Over 12 months to 24 months		2,400,000	20		1.76	%
Over 24 months to 36 months		3,700,000	30		1.73	%
Over 36 months to 48 months		2,400,000	42		0.92	%
Over 48 months to 60 months		1,400,000	52		0.89	%
Total	$	10,700,000	31		1.47	%

Schedule Of Location Of Derivatives On Balance Sheet

The table below presents the fair value of the Company’s derivative instruments as well as their classification on the balance sheets as of December 31, 2012 and 2011, respectively.

Asset Derivatives

Liability Derivatives

As of December 31, 2012

As of December 31, 2011

As of December 31, 2012

As of December 31, 2011

Balance Sheet

Fair Value

Balance Sheet

Fair Value

Balance Sheet

Fair Value

Balance Sheet

Fair Value

Interest rate hedge

Interest rate hedge asset

—

Interest rate hedge asset

—

Interest rate hedge liability

$

243,945

Interest rate hedge liability

$

219,167

Forward purchase commitment

Other assets

5,452

Other assets

6,327

Account payable and other liabilities

—

Account payable and other liabilities

—

Schedule of Location of Derivatives on Income Statement

The table below presents the effect of the Company’s derivative financial instruments on the income statement for the year ended December 31, 2012.

Derivative type for cash flow hedge	Amount of loss recognized in OCI on derivative (effective portion)		Location of loss reclassified from accumulated OCI into income (effective portion)	Amount of loss reclassified from accumulated OCI into income (effective portion)		Location of loss recognized in income on derivative (ineffective portion)	Amount of loss recognized in income on derivative (ineffective portion)
Interest Rate	$	141,392	Interest Expense	$	116,792	Interest Expense	$	178

The table below presents the effect of the Company’s derivative financial instruments on the income statement for the year ended December 31, 2011.

Derivative type for cash flow hedge	Amount of loss recognized in OCI on derivative (effective portion)		Location of loss reclassified from accumulated OCI into income (effective portion)	Amount of loss reclassified from accumulated OCI into income (effective portion)		Location of loss recognized in income on derivative (ineffective portion)	Amount of loss recognized in income on derivative (ineffective portion)
Interest Rate	$	273,389	Interest Expense	$	102,614	Interest Expense	$	654

Interest Rate Swap

Schedule of Interest Rate Swap Agreements on Accumulated Other Comprehensive Income

The following table presents the impact of the Company’s interest rate swap agreements on the Company’s accumulated other comprehensive income for the year ended December 31, 2012 and 2011, respectively.

	December 31, 2012			December 31, 2011
Beginning balance	($	218,451	)	($	47,676	)
Unrealized loss on interest rate swaps		(141,392	)		(273,389	)
Reclassification of net losses included in income statement		116,792			102,614
Ending balance	$	(243,051	)	$	(218,451	)