Interest Rate Contracts (Tables)

3 Months Ended

Mar. 31, 2014

Summary of Interest Rate Swap Agreement

The following table is a summary of our derivative instruments and their fair value, which is included in the line item “Other assets” on the accompanying consolidated balance sheets.  

						Fair Value(1)				Notional Amount in Effect as of
Derivative Instrument	Effective Date	Maturity Date	Interest Strike Rate			March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Designated as hedging instruments:
Interest Rate Swap	1/15/2015	2/15/2019		1.826	%		146,000		-		-		-
Interest Rate Swap	7/15/2015	2/15/2019		2.010	%		154,000		-		-		-
							300,000		-		-		-

Summary of Impact of Derivative Instruments on Consolidated and Combined Financial Statements

The following table presents the impact of our derivative instruments on our consolidated and combined statement of operations for the periods presented:

	For the Three Months Ended March  31,
	2014		2013
Interest Rate Swaps in Cash Flow Hedging Relationships:
Amount of gain recognized in AOCI on derivatives (effective portion)		300,000		-
Amount of gain (loss) reclassified from AOCI into earnings under "Interest expense" (effective portion)		-		-
Amount of gain (loss) recognized in earnings under "Interest expense" (ineffective portion and amount excluded from effectiveness testing)		-		-
Interest Rate Swaps Not in Cash Flow Hedging Relationships:
Amount of realized and unrealized gain recognized in earnings under "Gain on mark-to-market of interest rate swaps"		-		49,000