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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2013

FAIR VALUE MEASUREMENTS

Schedule of available-for-sale securities and derivative financial instruments measured at fair value

The fair value of the Company's available-for-sale securities and derivative financial instruments was determined using the following inputs (amounts in thousands):

								Fair Value Measurements Using Fair Value Hierarchy on a Recurring Basis
		Year Ended December 31,			Carrying and Fair Value
								Level 1			Level 2
Financial assets:
Available-for-sale securities:
Equity securities			2013		$	282		$	282		$	—
			2012			278			278			—
Derivative financial instruments:
Interest rate swaps			2013			265			—			265
			2012			—			—			—
Financial liabilities:
Derivative financial instruments:
Interest rate swaps			2013			774			—			774
			2012			1,470			—			1,470

Schedule of effect of derivative financial instruments on statement of income

The following table presents the effect of the Company's derivative financial instruments on the statement of income for the periods presented (amounts in thousands):

		Years Ended December 31,
		2013			2012			2011
Consolidated
Amount of (loss) recognized on derivatives in Other comprehensive (loss)		$	(1	)	$	(1,051	)	$	(1,098	)
Amount of (loss) reclassification from Accumulated other comprehensive (loss) into Interest expense			(962	)		(504	)		(351	)
Joint Ventures (Company's share)
Amount of gain (loss) recognized on derivative in Other comprehensive (loss)		$	21		$	(79	)	$	(225	)
Amount of (loss) reclassification from Accumulated Other comprehensive (loss) into Equity in earnings of unconsolidated joint ventures			(55	)		(56	)		(43	)

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

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-Section 50

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

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

-Publisher FASB

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