v2.4.0.8
Interest Rate Swaps
 12 Months Ended
Dec. 31, 2013
Interest Rate Derivatives [Abstract]  
Interest Rate Swaps
Interest Rate Swaps
The Company had previously entered into interest rate swaps to manage or reduce its interest rate risk, including the use of (1) forward-starting interest rate swaps to hedge its exposure to variability in future cash flows attributable to changes in LIBOR on anticipated financings, including refinancings and potential future borrowings or (2) interest rate swaps to hedge the interest rate variability on a portion of the Company's floating rate debt. The Company does not enter into interest rate swaps for speculative or trading purposes. As of December 31, 2013, the Company does not have any interest rate swaps outstanding.
The following table shows the effect of interest rate swaps on the consolidated statement of operations and comprehensive income (loss). The estimated net amount, pre-tax, loss that is expected to be reclassified into earnings from accumulated other comprehensive income (loss) is approximately $63.1 million for the year ended December 31, 2014. See also note 9. 
Interest Rate Swaps Designated as
Hedging Instruments(a)
 
Years Ended December 31,
 
Classification
 
2013

2012

2011
 
Gain (loss) recognized in other comprehensive income ("OCI") (effective portion)
 
$
—

  
$
—

  
$
(973
)
(b) 
OCI
Gain (loss) reclassified from accumulated OCI into income (effective portion)
 
(64,928
)
(b) 
(65,239
)
(b) 
(71,707
)
(b) 
Interest expense and amortization of deferred financing costs
____________________
(a)
Exclusive of benefit (provision) for income taxes.
(b)
Inclusive of the impact of forward-starting interest rate swaps which had been hedging certain anticipated refinancings, all of which were previously cash settled.