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DERIVITIVE FINANCIAL INSTRUMENTS AND HEDGING (Tables)
 3 Months Ended
Mar. 31, 2015
DERIVITIVE FINANCIAL INSTRUMENTS AND HEDGING  
Schedule of derivative financial instruments

 

 

Information about our derivative financial instruments at March 31, 2015 and December 31, 2014 follows (dollars in thousands):

                                                                                                                                                                                                               

 

 

March 31, 2015

 

December 31, 2014

 

 

 

Number of
Instruments

 

Notional
Amount

 

Fair Value

 

Number of
Instruments

 

Notional
Amount

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps (asset)

 

—

 

$

—

 

$

—

 
3

 

$
28,002

 

$
66

 

Interest rate swaps (liability)

 
4

 
102,681

 
(2,653

)
1

 
75,000

 
(1,957

)

 

 
4

 

$
102,681

 

$
(2,653

)
4

 

$
103,002

 

$
(1,891

)

 

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).

                                                                                                                                                                                                               

 

 

For the three months ended March 31,

 

 

 

2015

 

2014

 

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

 

$
(1,186

)

$
(495

)

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

 

$
(425

)

$
(427

)

Loss recognized in loss on derivative financial instruments (ineffective portion)

 

$
(1

)

$

—