DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
At March 31, 2018 and December 31, 2017, the following table presents information about the fair value amounts of the Company’s derivative instruments is as follows:
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Derivatives as of |
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March 31, 2018 |
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December 31, 2017 |
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Balance Sheet Location |
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Fair Value |
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Balance Sheet Location |
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Fair Value |
Derivatives Designated as Hedging Instruments: |
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Interest rate swap contracts |
Other assets |
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$ |
1,041 |
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Other assets |
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$ |
233 |
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Interest rate swap contracts |
Other liabilities |
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$ |
2,440 |
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Other liabilities |
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$ |
3,529 |
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Derivatives not Designated as Hedging Instruments: |
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Interest rate swap contracts |
Other assets |
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$ |
12 |
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Other assets |
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$ |
— |
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All but one of the Company’s derivatives were designated as hedging instruments for the three months ended March 31, 2018 and the year ended December 31, 2017.
The following tables present information about the effects of the Company’s derivative instruments on the consolidated statements of income (loss) and consolidated statements of comprehensive income (loss):
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Location of Gain Recognized in Net Income (Loss) |
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Amount of Gain Recognized in Net Income (Loss) |
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Three Months Ended March 31, |
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2018 |
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2017 |
Derivatives Designated as Hedging Instruments: |
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Interest rate swap contracts |
Other expenses, net |
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$ |
(102 |
) |
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$ |
(123 |
) |
Derivatives not Designated as Hedging Instruments: |
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Interest rate swap contracts |
Other expenses, net |
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$ |
(12 |
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$ |
— |
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Three Months Ended |
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March 31, 2018 |
Derivatives Designated as Hedging Instruments: |
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Accumulated loss in AOCI at the beginning of the period |
$ |
(1,745 |
) |
Unrealized gain recognized in AOCI |
1,511 |
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Loss reclassified from AOCI to other expenses, net |
(105 |
) |
Accumulated loss in AOCI at the end of the period |
$ |
(339 |
) |
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