Derivative Instruments and Hedging Activities (Policy)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities

Derivative instruments and hedging activities, policy

Historically, the Company entered into interest rate swap contracts with various counterparties to mitigate cash flow risk associated with floating interest rates on outstanding borrowings under its previous asset-based revolving credit facility (the “ABL Credit Facility”).  The interest rate swap contracts were designated as cash flow hedges with interest payments designed to offset the interest payments for borrowings under the ABL Credit Facility that corresponded with the notional amounts of the swaps.