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Derivative Instruments (Notes)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments [Abstract]  
Derivative Instruments
Derivative Instruments
From time to time, we may also enter into interest rate hedging agreements to limit variable interest rate exposure under the Amended and Restated Credit Agreement. The prior credit facility required us to maintain interest rate hedging arrangements on at least 50% of the amount funded on November 7, 2012 under the credit facility, which was required to be in place for at least a three-year period beginning no later than March 7, 2013. Effective February 25, 2013, we entered into interest rate hedges in the form of a LIBOR interest rate cap for a term of three years for a total notional amount of $45.0 million, thereby meeting the requirements in effect at that time. These requirements were eliminated in connection with our entry into the Amended and Restated Credit Agreement in July 2013.
The tables below present the fair value of our derivative instruments, as of March 31, 2014 and December 31, 2013 (in thousands).
 
 
 
March 31, 2014
 
December 31, 2013
Derivative Type
Balance Sheet Location
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
Interest rate derivatives
Other long term assets
 
$
95

 
$
—

 
$
116

 
$
—


Losses recognized associated with derivatives not designated as hedging instruments for the three months ended March 31, 2014 and 2013 were as follows (in thousands):
 
 
 
Three Months Ended March 31,
Derivative Type
Income Statement Location
 
2014
 
2013
Interest rate derivatives
Interest expense
 
$
(21
)
 
$
(66
)

There were no unrealized gains related to these contracts held on the consolidated balance sheets as of March 31, 2014 and December 31, 2013.