Annual report pursuant to Section 13 and 15(d)

Derivative Instruments and Hedging Activities

v2.4.1.9
Derivative Instruments and Hedging Activities
 12 Months Ended
Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
At December 31, 2014 and 2013, the following table presents information about the fair value amounts of the Company’s derivative instruments: 
 
Derivatives as of December 31,
 
2014
 
2013
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Derivatives Designated as Hedging Instruments:
 
 
 

 
 
 
 

Interest rate swap contracts
Other assets
 
$
—

 
Other assets
 
$
1,553

Interest rate swap contracts
Other liabilities
 
$
4,430

 
Other liabilities
 
$
4,268


All of the Company’s derivatives were designated as hedging instruments for the year ended December 31, 2014. All but one derivative were designated as hedging instruments prior to March 2013 and all were designated as hedging instruments for the remainder of the year ended December 31, 2013.
The following tables present information about the effects of the Company’s derivative instruments on the consolidated statements of income and consolidated statements of comprehensive income (loss):
 
Location of (Gain) Loss Recognized in Income (Loss)
 
Amount of (Gain) Loss Recognized in Income (Loss) for the Year Ended December 31,
 
 
 
2014
 
2013
 
2012
Derivatives Designated as Hedging Instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
Other expenses, net
 
$
(1,418
)
 
$
(1,193
)
 
$
—

Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
Interest rate swap contracts
Other expenses, net
 
$
—

 
$
(266
)
 
$
98


 
Twelve Months Ended December 31, 2014
 
Loss Recognized in Accumulated Other Comprehensive (Loss) Income, Net
 
Interest Expense Reclassified from Accumulated Other Comprehensive (Loss) Income, Net into Other Expenses, Net
Derivatives Designated as Hedging Instruments:
 
 
 
Interest rate swap contracts
$
2,217

 
$
1,222