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Note 9 - Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2014

Disclosure Text Block [Abstract]

Comprehensive Income (Loss) Note [Text Block]

9 – Accumulated Other Comprehensive Income

The following table shows the components of accumulated other comprehensive loss, net of tax, (in thousands):

		Three Months Ended September 30, 2014
		Cash Flow Swaps				Available for Sale Securities				Total
Balance at June 30, 2014		$	(398	)		$	(374	)		$	(772	)
Change in fair value			216				−				216
Income tax deferred			(84	)			−				(84	)
Balance at September 30, 2014		$	(266	)		$	(374	)		$	(640	)

		Three Months Ended September 30, 2013
		Cash Flow Swaps				Available for Sale Securities				Total
Balance at June 30, 2013		$	(854	)		$	(578	)		$	(1,432	)
Change in fair value			165				−				165
Income tax deferred			(64	)			−				(64	)
Balance at September 30, 2013		$	(753	)		$	(578	)		$	(1,331	)

		Nine Months Ended September 30, 2014
		Cash Flow Swaps				Available for Sale Securities				Total
Balance at December 31, 2013		$	(624	)		$	(578	)		$	(1,202	)
Change in fair value			587				184				771
Sale of available for sale securities			−				150				150
Income tax deferred			(229	)			(130	)			(359	)
Balance at September 30, 2014		$	(266	)		$	(374	)		$	(640	)

		Nine Months Ended September 30, 2013
		Cash Flow Swaps				Available for Sale Securities				Total
Balance at December 31, 2012		$	(1,178	)		$	(578	)		$	(1,756	)
Change in fair value			691				−				691
Income tax deferred			(266	)			−				(266	)
Balance at September 30, 2013		$	(753	)		$	(578	)		$	(1,331	)

The following table shows the amount of loss reclassified from accumulated other comprehensive loss into earnings (in thousands):

		Three Months Ended								Nine Months Ended
		September 30, 2014				September 30, 2013				September 30, 2014				September 30, 2013
Losses on cash flow swaps to:
Interest expense		$	(55	)		$	(60	)		$	(166	)		$	(231	)
Income tax benefit			21				23				65				89
Total reclassifications		$	(34	)		$	(37	)		$	(101	)		$	(142	)

The following table shows the reconciliation of net income to comprehensive income (in thousands):

		Three Months Ended								Nine Months Ended
		September 30, 2014				September 30, 2013				September 30, 2014				September 30, 2013
Net Income		$	23,478			$	15,179			$	55,330			$	34,358
Other comprehensive income, before tax:
Change in fair value of interest rate swaps			216				165				587				691
Change in fair value of available-for-sale securities			−				−				184				−
Unrealized gain on available-for-sale securities			−				−				150				−
Other comprehensive income, before tax			216				165				921				691
Income tax expense related to components of other comprehensive income			84				64				359				266
Other comprehensive income, net of tax			132				101				562				425
Comprehensive income		$	23,610			$	15,280			$	55,892			$	34,783

X

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580



Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580



Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580



Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 17

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580



Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580



Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Reclassification Adjustments

-URI http://asc.fasb.org/extlink&oid=6522872

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