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ACCOUNTING FOR DERIVATIVES (Tables)

6 Months Ended

Jun. 30, 2012

ACCOUNTING FOR DERIVATIVES

Effect of derivative instruments on consolidated financial position

		June 30, 2012
		Balance Sheet Location		Fair Value Asset (Liability)
Derivatives designated as hedging instruments:
Interest rate hedges		Accrued liabilities		$	(5,432	)
Interest rate hedges		Other long-term liabilities		(6,630		)
Total derivatives				$	(12,062	)

		December 31, 2011
		Balance Sheet Location		Fair Value Asset (Liability)
Derivatives designated as hedging instruments:
Interest rate hedges		Accrued liabilities		$	(14,250	)
Interest rate hedges		Other long-term liabilities		(5,196		)
Total derivatives				$	(19,446	)

Effect of derivative instruments on results of operations

		Three Months Ended June 30, 2012								Six Months Ended June 30, 2012
		Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)		Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)			Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)		Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)
Derivatives designated as cash flow hedges:
Interest rate hedges		$	(5,265	)	Interest expense		$	(9,854	)	$	(10,126	)	Interest expense		$	(19,601	)

		Three Months Ended June 30, 2011								Six Months Ended June 30, 2011
		Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)		Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)			Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)		Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Loss)
Derivatives designated as cash flow hedges:
Interest rate hedges		$	(10,205	)	Interest expense		$	(11,364	)	$	(13,983	)	Interest expense		$	(24,095	)
Foreign currency hedge			—		Fabrication revenue			—			—		Fabrication revenue			410
Total		$	(10,205	)			$	(11,364	)	$	(13,983	)			$	(23,685	)

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details