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Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Derivative Financial Instruments
From time to time, the Company seeks to offset its exposure to changing interest rates under its debt financing arrangements by entering into interest rate hedging contracts.
In 2010, the Company entered into interest rate swap agreements as summarized in the table below:
 
Notional
Amount
 
Paying
 
Receiving
 
Start Date
 
Expiration Date
Counterparty A
$
25.0

 
1.67
%
 
3-Month LIBOR
 
October 2010
 
October 2015
Counterparty A
$
25.0

 
1.65
%
 
3-Month LIBOR
 
October 2010
 
October 2015
Counterparty B
$
25.0

 
1.59
%
 
3-Month LIBOR
 
October 2010
 
October 2015
Counterparty B
$
25.0

 
2.14
%
 
3-Month LIBOR
 
October 2010
 
October 2017

The Company’s derivative contracts contain provisions that may require the Company or the counterparties to post collateral based upon the current fair value of the derivative contracts. As of December 31, 2013, the Company had posted collateral of $3.6 million related to its interest rate swap contracts.
The following summarizes the amount of derivative instrument gains and losses reported in the Consolidated Statements of Comprehensive Income:
 
For the Years Ended December 31,
Cash Flow Hedges
2011
 
2012
 
2013
Interest rate swaps
$
(5.4
)
 
$
(1.1
)
 
$
1.5

Treasury rate locks
(4.3
)
 
—

 
—

Total
$
(9.7
)
 
$
(1.1
)
 
$
1.5


At December 31, 2012 and 2013, the fair values of the Company's interest rate swaps ($4.0 million and $2.5 million, respectively) are presented within Other liabilities. The Company does not generally hold or issue derivative financial instruments for trading purposes. Interest rate swaps are intended to enable the Company to achieve a level of variable-rate and fixed-rate debt that limits interest rate exposure.