Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Investments All Other Investments [Abstract]

The following table summarizes our bond activity for the nine months ended September 30, 2017 and the twelve months ended December 31, 2016 (in thousands):

	Nine Months Ended			Twelve Months Ended
	September 30, 2017			December 31, 2016
Fair value at beginning of period	$	44,573		$	43,142
Purchases		14,046			11,355
Redemptions		(940	)		(2,900	)
Maturities		(5,555	)		(6,878	)
Increase (decrease) in bond premium		67			(106	)
Fair market value adjustment		267			(40	)
Fair value at end of period	$	52,458		$	44,573

Summary of Outstanding Interest Rate Swaps

The following table summarizes our outstanding interest rate swaps and their classification in the accompanying Consolidated Balance Sheets at September 30, 2017 and December 31, 2016 (in thousands):

	September 30, 2017
	Notional		Fair
	Amount		Value (1)		Balance Sheet Location
Interest rate swaps (2)	$	70,000	$	655	Other non-current assets
Interest rate swaps (2)	$	10,000	$	4	Other current assets

	December 31, 2016
	Notional		Fair
	Amount		Value (1)		Balance Sheet Location
Interest rate swaps (2)	$	50,000	$	525	Other non-current assets
Interest rate swaps (2)	$	10,000	$	4	Other current assets

(1)

Refer to Note 8, Fair Value Measurements, for additional disclosures regarding fair value measurements.

(2)

Under the terms of the interest rate swaps, we pay interest at a fixed rate of interest plus applicable margin as stated in the agreement, and receive interest that varies with the one-month LIBOR. The notional value, fixed rate of interest and maturity date of each interest rate swap is (i) $10.0 million – 0.885% - November 2017, (ii) $15.0 million – 1.155% - November 2018, (iii) $25.0 million – 1.300% - October 2020, (iv) $10.0 million – 1.120% - February 2021 and (v) $20.0 million – 1.770% - May 2022.

Summary of Effects of Interest Rate Swap

The following table summarizes the effects of the interest rate swaps on the accompanying Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2017 and 2016 (in thousands):

	Gain (Loss) Recognized in AOCL, net of tax				Gain Reclassified from AOCL into Expense
	Three Months Ended				Three Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Interest rate swap	$	11	$	247	$	20	$	103

	Nine Months Ended					Nine Months Ended
	September 30,					September 30,
	2017		2016			2017		2016
Interest rate swap	$	82	$	(516	)	$	120	$	318