XML 49 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivatives (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
 
(in millions of dollars)
Notional Value
 
Fair Value at
September 30,
                      2013 (1)
 
Fair Value at
December 31,
2012 (1)
 
Interest
Rate
 
Effective Date
 
Maturity Date
Interest Rate Swaps
 
 
 
 
 
 
 
 
 
 
$60.0
 
N/A

 
(0.2
)
 
1.74
%
 
 
 
March 11, 2013
200.0
 
N/A

 
(1.0
)
 
2.96
%
 
 
 
March 11, 2013
40.0
 
N/A

 
(0.1
)
 
1.82
%
 
 
 
March 11, 2013
65.0
 
N/A

 
(1.5
)
 
3.60
%
 
 
 
September 9, 2013
68.0
 
N/A

 
(1.6
)
 
3.69
%
 
 
 
September 9, 2013
35.0
 
N/A

 
(1.4
)
 
3.73
%
 
 
 
September 9, 2013
55.0
 
(0.2
)
 
(1.3
)
 
2.90
%
 
 
 
November 29, 2013
48.0
 
(0.2
)
 
(1.2
)
 
2.90
%
 
 
 
November 29, 2013
25.0
 
(0.4
)
 
(0.5
)
 
1.10
%
 
 
 
July 31, 2016
28.1
 
(0.6
)
 
(0.9
)
 
1.38
%
 
 
 
January 2, 2017
35.1
 
0.1

 
N/A

 
3.72
%
 
 
 
December 1, 2017
7.6
 
0.1

 
N/A

 
1.00
%
 
 
 
January 1, 2018
Forward Starting Interest Rate Swaps
 
 
 
 
 
 
 
 
 
 
48.0
 
0.1

 
N/A

 
1.12
%
 
December 1, 2013
 
January 1, 2018
55.0
 
0.1

 
N/A

 
1.12
%
 
December 1, 2013
 
January 1, 2018
 
 
$
(1.0
)
 
$
(9.7
)
 
 
 
 
 
 
_________________________
(1) 
As of September 30, 2013 and December 31, 2012, derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy. As of September 30, 2013 and December 31, 2012, we did not have any significant recurring fair value measurements related to derivative instruments using significant unobservable inputs (Level 3).
Effect of Our Derivative Financial Instruments on Our Consolidated Statements of Operations
The table below presents the effect of derivative financial instruments on our consolidated statements of operations and our share of our partnerships’ statements of operations for the three and nine months ended September 30, 2013 and 2012:
 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
Consolidated
Statements of
Operations 
Location
(in millions of dollars)
 
2013
 
2012
 
2013
 
2012
 
Derivatives in cash flow hedging relationships:
 
 
 
 
 
 
 
 
 
 
Interest rate products
 
 
 
 
 
 
 
 
 
 
Gain (loss) recognized in Other Comprehensive Income (Loss) on derivatives
 
$
0.3

 
$
(1.3
)
 
$
7.9

 
$
(4.9
)
 
N/A
Loss reclassified from Accumulated Other Comprehensive Income (Loss) into income (effective portion)
 
$
2.0

 
$
4.6

 
$
9.0

 
$
13.0

 
Interest expense
Loss recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)
 
$
(0.7
)
 
$
—

 
$
(3.4
)
 
$
—

 
Interest expense