Derivative Instruments (Notes)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

DERIVATIVE INSTRUMENTS

The Company is exposed to interest rate risk related to its variable interest debt. The Company balances its cost of debt and exposure to interest rates primarily through its mix of fixed and variable rate debt. From time to time, the Company may use interest rate swaps to manage its exposure to interest rate risk.

As of December 31, 2013, the Company had a gross notional amount of $21.6 million related to interest rate swaps that were assumed in connection with acquisitions, in which the floating rates are swapped for fixed rates. The table below presents the fair value of derivative financial instruments, which are included in Other non-current liabilities in the consolidated balance sheets (in millions):

	As of December 31,
	2013		2012
Interest rate swap liability - floating to fixed rate	$	2.8	$	—

The Company recorded in Interest income and other in the consolidated statements of income, $0.2 million of income in 2013 related to the change in fair value of the interest rate swaps. There were no amounts recorded in 2012.