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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Interest Rate Swap Agreements

The Company has interest rate swap agreements in effect at June 30, 2015 as detailed below to effectively convert a total of $325 million of variable-rate debt to fixed-rate debt.

 

Notional Amount

    Effective
Date		      Expiration
Date		      Fixed Rate
Paid		     Floating
Rate Received		  

$125 Million

      9/1/2011         8/1/18         2.3700 %      1 month LIBOR   

$100 Million

      12/30/11         12/29/17         1.6125 %      1 month LIBOR   

$100 Million

      9/4/13         9/4/18         1.3710 %      1 month LIBOR   

$100 Million

      12/29/17         11/29/19         3.9680 %      1 month LIBOR   

$125 Million

      8/1/18         6/1/20         4.1930 %      1 month LIBOR   

Summary of Changes in AOCL

The changes in AOCL for the three and six months ended June 30, 2015 and June 30, 2014 are summarized as follows:

 

(dollars in thousands)

    Apr. 1, 2015
to
Jun. 30, 2015		     Apr. 1, 2014
to
Jun. 30, 2014		     Jan. 1, 2015
to
Jun. 30, 2015		     Jan. 1, 2014
to
Jun. 30, 2014		  

Accumulated other comprehensive loss beginning of period

    $ (16,992 )    $ (8,331 )    $ (13,005 )    $ (6,402 ) 

Realized loss reclassified from accumulated other comprehensive loss to interest expense

      1,359        1,381        2,718        2,742   

Unrealized loss from changes in the fair value of the effective portion of the interest rate swaps

      1,062        (5,107 )      (4,284 )      (8,397 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Loss included in other comprehensive loss

      2,421        (3,726 )      (1,566 )      (5,655 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated other comprehensive loss end of period

    $ (14,571 )    $ (12,057 )    $ (14,571 )    $ (12,057 )