Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments and Hedging Activities

v2.3.0.15
Derivative Instruments and Hedging Activities
 9 Months Ended
Sep. 30, 2011
Derivative Instruments and Hedging Activities [Abstract]  
Derivative Instruments and Hedging Activities Disclosure [Text Block]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
At December 31, 2010 and September 30, 2011, the following table presents information about the fair value amounts of the Company's derivative instruments:
 
 
 
Liability Derivatives as of
 
 
December 31, 2010
 
September 30, 2011
 
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Derivatives Designated as Hedging Instruments:
 
 
 
 

 
 
 
 

Interest rate swap contracts
 
Other liabilities
 
$
3,632,238

 
Other liabilities
 
$
6,952,034

 There were no derivatives not designated as hedging instruments for the three months ended September 30, 2010 and 2011. 
The following table presents information about the effects of the Company's derivative instruments on the condensed consolidated statements of income and comprehensive income:
 
 
Location of Gain (Loss) Recognized in
 
Amount of Gain (Loss) Recognized in Income on Derivative for the Nine Months Ended September 30, are as follows:
 
 
Income on Derivative
 
2010
 
2011
Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
Interest rate swap contracts
 
Interest (expense) income
 
$
(133,591
)
 
$
—


 
 
As of September 30, 2011
 
 
Loss Recognized in Accumulated Other Comprehensive Income
 
Loss Reclassified from Accumulated Other Comprehensive Income
Derivatives Designated as Hedging Instruments:
 
 
 
 
Interest rate swap contracts
 
$
3,319,796

 
$
1,207,255