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DERIVATIVE INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2012
Derivative Instruments Tables  
DERIVATIVE INSTRUMENTS

A tabular presentation of the fair value of derivative instruments as of June 30, 2012 is as follows (amounts in thousands):

 

  Balance Sheet Location Fair Value – Asset (Liability) Derivatives
Derivatives    
     
Interest rate contracts Accounts payable, accrued expenses and other $ (2,336)

 

  

A tabular presentation of the fair value of derivative instruments as of December 31, 2011 is as follows (amounts in thousands):

 

   Balance Sheet Location Fair Value – Asset (Liability) Derivatives
Derivatives    
     
Interest rate contracts Accounts payable, accrued expenses and other $ (5,064)

 

A tabular presentation of the effect of derivative instruments on our statement of income is as follows (amounts in thousands):

 

For the Three Months Ended June 30, 2012

Ineffective Interest Rate Swap   Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)   Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)   Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
Interest rate contracts   None   $1,515   Other income/ (expense)   *   ($276)   Interest income/(expense)

 

 

For the Three Months Ended June 30, 2011

Ineffective Interest Rate Swap   Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)   Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)   Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
Interest rate contracts   None   $690   Other income/ (expense)   *   ($306)   Interest income/(expense)

 

 

For the Six Months Ended June 30, 2012

Ineffective Interest Rate Swap   Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)   Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)   Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
Interest rate contracts   None   $2,728   Other income/ (expense)   *   ($551)   Interest income/(expense)

  

 

For the Six Months Ended June 30, 2011

Ineffective Interest Rate Swap   Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)   Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)   Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)   Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
Interest rate contracts   None   $2,060   Other income/ (expense)   *   ($612)   Interest income/(expense)

 

* Amortization of OCI associated with the cash flow hedges through April 6, 2010 (see discussion above).