XML 67 R41.htm IDEA: XBRL DOCUMENT v2.4.0.8
Capital and Financing Transactions Notes Payable (Details) (USD $)
3 Months Ended 0 Months Ended 0 Months Ended 0 Months Ended 3 Months Ended
Mar. 31, 2014
Mar. 31, 2014
Working Capital Revolving Credit Facility
PNC Bank
Mar. 31, 2014
Unsecured Revolving Credit Facility
Wells Fargo Bank
Mar. 31, 2014
Unsecured Term Loan $125 million
Key Bank
Mar. 31, 2014
Unsecured Term Loan $120 million
Wells Fargo Bank
Oct. 03, 2012
Unsecured Term Loan
Key Bank
Oct. 02, 2012
Unsecured Term Loan
Key Bank
Jun. 12, 2013
Term Loan Swap
Wells Fargo Bank
Oct. 03, 2012
LIBOR
Unsecured Term Loan
Key Bank
Oct. 02, 2012
LIBOR
Unsecured Term Loan
Key Bank
Jun. 12, 2013
LIBOR
Term Loan Swap
Wells Fargo Bank
Mar. 31, 2014
Minimum
LIBOR
Unsecured Term Loan $120 million
Key Bank
Mar. 31, 2014
Minimum
LIBOR
Term Loan Swap
Wells Fargo Bank
Mar. 31, 2014
Maximum
LIBOR
Unsecured Term Loan $120 million
Key Bank
Mar. 31, 2014
Maximum
LIBOR
Term Loan Swap
Wells Fargo Bank
Debt Instrument [Line Items]                              
Interest Rate 2.90% [1] 0.00% 0.00% 2.40% [2] 3.30% [3]         0.70% 1.60%        
Maturity   Mar. 29, 2016 Mar. 29, 2016 Sep. 27, 2017 [2] Jun. 11, 2018 [3]                    
Outstanding Balance $ 245,000,000 $ 0 $ 0 $ 125,000,000 [2] $ 120,000,000 [3]                    
LIBOR                 LIBOR   LIBOR        
Basis spread on variable rate (in percent)           1.75%   1.70%       1.50% 1.45% 2.25% 2.20%
Interest rate at period end (in percent)             2.45% 3.30%              
Notional amount             $ 125,000,000 $ 120,000,000              
Term loan swap term (in years)                 5 years   5 years        
[1] Represents a weighted average interest rate.
[2] Effective October 1, 2012, the Company executed two floating-to-fixed interest rate swaps associated with the Unsecured Term Loan totaling $125 million, locking LIBOR at 0.7% for five years. The loan bears interest at LIBOR plus the applicable spread which ranges between 150 to 225 basis points based on overall Company leverage. The current spread associated with the loan is 1.75% resulting in an all-in rate of 2.45%.
[3] Effective June 12, 2013, the Company entered into a new floating-to-fixed interest rate swap associated with the Term Loan Facility totaling $120 million, locking LIBOR at 1.6% for five years. The loan bears interest at LIBOR plus the applicable spread which ranges between 145 to 220 basis points based on overall Company leverage. The current spread associated with the loan is 1.7% resulting in an all-in rate of 3.3%.