Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments and Hedging Activities (Tables)

v2.4.0.6
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value Amounts of Liability Derivative
At March 31, 2013 and December 31, 2012, the following table presents information about the fair value amounts of the Company’s derivative instruments:
 
 
Liability Derivatives as of
 
 
March 31, 2013
 
December 31, 2012
 
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Derivatives Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
Interest rate swap contracts
 
Other liabilities
 
$
5,107,499

 
Other liabilities
 
$
5,590,519

Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
Interest rate swap contracts
 
Other liabilities
 
$
2,357,649

 
Other liabilities
 
$
2,624,063

Effect of Derivative Instruments on the Condensed Consolidated Statements of Comprehensive Income
The following table presents information about the effects of the Company’s derivative instruments on the condensed consolidated statements of (loss) income and condensed consolidated statements of comprehensive (loss) income:
 
 
Location of Gain Recognized in (Loss) Income
 
Amount of Gain Recognized in (Loss) Income for the Three Months Ended March 31,
 
 
 
 
2013
 
2012
Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
Interest rate swap contracts
 
Other expenses, net
 
$
(389,087
)
 
$
(229,866
)

 
 
As of March 31, 2013
 
 
Gain Recognized in Other Comprehensive Income
 
Interest Expense Reclassified from Other Comprehensive Loss
Derivatives Designated as Hedging Instruments:
 
 
 
 
Interest rate swap contracts
 
$
(924,541
)
 
$
354,024