Quarterly report pursuant to Section 13 or 15(d)

Derivatives (Tables)

v2.4.1.9
Derivatives (Tables)
3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Swaps' outstanding notional balance and terms
The Swaps’ outstanding notional balance as of March 31, 2015 and terms are noted below:
Notional
 
Effective Date
 
Fixed
Rate Paid
 
Variable Rate Received
$
533,500,000

 
March 28, 2013
 
1.884%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor (a)
141,375,000

 
March 28, 2013
 
1.384%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor (a)
110,521,357

 
September 30, 2013
 
1.959%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor
110,521,357

 
September 30, 2013
 
1.850%
 
3 mo. USD-LIBOR-BBA, subject to a 1.00% floor
 
(a) 
Schedule of impact of the derivatives designated as cash flow hedges on the condensed consolidated financial statements
The impact of the derivatives designated as cash flow hedges on the condensed consolidated financial statements is depicted below (amounts in thousands):
 
Three Months Ended 
 March 31,
 
2015
 
2014
Effective portion of loss recognized in Accumulated other comprehensive loss
$
(6,268
)
 
(3,371
)
Effective portion of loss reclassified from Accumulated other comprehensive loss into Net loss (a)
$
(1,805
)
 
(1,700
)
Ineffective portion of amount of loss recognized into Net loss on interest rate swaps (a)
$
(84
)
 
(1
)
 
(a) 
Amounts are included in Interest expense in the unaudited condensed consolidated statements of operations and comprehensive income (loss).