Interest Rate Swap Agreements (Tables)

3 Months Ended

Mar. 31, 2015

Interest Rate Swap Agreements Designated as Hedge Agreements

Below is a summary of the Company’s current interest rate swap agreements designated as cash flow hedges as of March 31, 2015:


											Estimated
Nominal Amount	Effective Date	Pay Rate			Receive Rate	Expiration Date	Current Liability⁽¹⁾		Long- Term Liability⁽²⁾		Total Fair Value at March 31, 2015
$175,000	December 2010		1.3975	%	1-Month LIBOR	September 2015	$	961	$	—	$	961
$175,000	December 2010		1.4000	%	1-Month LIBOR	September 2015		970	$	—		970
$100,000	November 2011		1.7150	%	1-Month LIBOR	April 2016		1,340		91		1,431

$450,000							$	3,271	$	91	$	3,362

⁽¹⁾	Included in accounts payable and accrued expenses on the condensed consolidated balance sheet as of March 31, 2015.

⁽²⁾	Included in other long-term liabilities on the condensed consolidated balance sheet as of March 31, 2015.

Interest Rate Swap

Changes in Accumulated Other Comprehensive Loss, Net of Taxes

The changes in accumulated other comprehensive loss, net of taxes, related to the Company’s interest rate swap agreements for the three months ended March 31, 2015 and 2014 were as follows:


	Interest Rate Swaps
	2015			2014
Beginning balances – January 1	$	(2,870	)	$	(5,716	)

Other comprehensive loss before reclassifications, net of taxes		(689	)		(979	)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of taxes		1,446			1,476

Net other comprehensive income		757			497

Ending balances – March 31	$	(2,113	)	$	(5,219	)