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DERIVITIVE FINANCIAL INSTRUMENTS AND HEDGING (Tables)
12 Months Ended
Dec. 31, 2014
DERIVITIVE FINANCIAL INSTRUMENTS AND HEDGING  
Schedule of derivative financial instruments

Information about our derivative financial instruments at December 31, 2014 and 2013 follows (dollar amounts in thousands):

 

 

 

December 31, 2014

 

December 31, 2013

 

 

 

Number of
Instruments

 

Notional
Amount

 

Fair Value

 

Number of
Instruments

 

Notional
Amount

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps (asset)

 

3

 

$

28,002

 

$

66

 

3

 

$

29,273

 

$

253

 

Interest rate swaps (liability)

 

1

 

75,000

 

(1,957

)

1

 

75,000

 

(1,772

)

 

 

4

 

$

103,002

 

$

(1,891

)

4

 

$

104,273

 

$

(1,519

)

 

Schedule of the location in the financial statements of the gain or loss recognized on derivative financial instruments designated as cash flow hedges

The table below details the location in the financial statements of the gain or loss recognized on derivative financial instruments designated as cash flow hedges (in thousands).

 

 

 

2014

 

2013

 

2012

 

Loss recognized in accumulated other comprehensive income on derivative financial instruments (effective portion)

 

$

(2,112

)

$

(1,240

)

$

(786

)

Loss reclassified from accumulated other comprehensive income to interest expense (effective portion)

 

$

(1,741

)

$

(359

)

$

(147

)

Gain (loss) recognized in gain (loss) on derivative financial instruments (ineffective portion)

 

$

(1

)

$

2

 

$

(2

)