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Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2015
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 and certain of its Affiliates seek to offset their exposure to changing foreign currency rates on projected expenses and revenues by entering into derivative contracts.
The following table summarizes the interest rate swap agreements outstanding at March 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
Fair Value(1)
 
Notional
Amount
 
Paying
 
Receiving
 
Start Date
 
Expiration Date
 
December 31, 2014
 
March 31, 2015
Counterparty A
$
25.0

 
1.67
%
 
3-Month LIBOR
 
October 2010
 
October 2015
 
$
0.3

 
$
0.2

Counterparty A
$
25.0

 
1.65
%
 
3-Month LIBOR
 
October 2010
 
October 2015
 
0.3

 
0.2

Counterparty B
$
25.0

 
1.59
%
 
3-Month LIBOR
 
October 2010
 
October 2015
 
0.2

 
0.1

Counterparty B
$
25.0

 
2.14
%
 
3-Month LIBOR
 
October 2010
 
October 2017
 
0.6

 
0.7


__________________________

(1)
Aggregate fair values of $1.4 million and $1.2 million at December 31, 2014 and March 31, 2015, respectively, are presented within Other liabilities. The Company posted collateral with its counterparties of $2.4 million.

The Company’s Affiliates entered into foreign currency forward contracts to hedge projected revenues and expenses denominated in currencies other than their functional currency. The following table summarizes the foreign currency forward contracts outstanding at March 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
Fair Value
 
 
 
Paying
 
Receiving
 
Start Date
 
Expected Settlement
 
December 31, 2014 (1)
 
March 31, 2015 (2)
Counterparty C
 
 
€21.0
 
$25.7
 
December 2014
 
Quarterly 2015
 
$
0.3

 
$
3.2

Counterparty C
 
 
$11.3
 
£7.0
 
September 2014
 
Monthly 2015
 
(0.8
)
 
(0.9
)

__________________________
(1)
Aggregate fair value of $(0.5) million is presented within Other assets.
(2)
Fair value of $3.2 million is presented within Other assets and $(0.9) million is presented within Other liabilities. These amounts are expected to be reclassified into earnings within the next twelve months.
During the three months ended March 31, 2015, the Company realized $0.3 million of gains and $0.6 million of losses upon the settlement of certain foreign currency forward contracts. Such realized gains and losses are presented gross in the Consolidated Statements of Income within Revenue and Operating Expenses, respectively.