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Note 9 - Accumulated Other Comprehensive Loss | 12 Months Ended
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Dec. 31, 2015
Notes to Financial Statements |
Other Comprehensive Income, Noncontrolling Interest [Text Block] |
9. | Accumulated Other Comprehensive Loss:
In June 2012, the Company entered into a forward starting fixed rate interest rate hedge commencing July 2013 in order to eliminate the variability of cash interest payments on $53.2 million of the outstanding LIBOR-based borrowings under the ABL Credit Facility. The hedge matures on June 1, 2016 and the notional amount is reduced monthly by $729 thousand. The balance as of December 31, 2015 was $31.4 million. The fixed rate interest rate hedge is accounted for as a cash flow hedging instrument for accounting purposes. The fair value of the interest rate hedge is included in “Accumulated other comprehensive loss” on the Consolidated Balance Sheets. During 2014, the Company entered into carbon swaps indexed to the NYMEX price of U.S. Midwest Domestic Hot-Rolled Coil Steel with third-party brokers. The Company entered into the carbon swaps in order to mitigate the volatility in the price of metals. There were no carbon swaps outstanding as of December 31, 2015. The carbon swaps are accounted for as cash flow hedges and are included in “Other current assets” and “Other current liabilities” on the Company’s Consolidated Balance Sheets at December 31, 2014. The change in the fair value of the carbon swaps is included in “Accumulated other comprehensive loss” on the Consolidated Balance Sheets at December 31, 2014.

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- Definition The entire disclosure for tabular information relating to Other Comprehensive Income (OCI) as is applicable to noncontrolling interests. This text block may also include OCI relative to the filing entity, the aforementioned noncontrolling interest OCI, as well as OCI on a consolidated basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4569616-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4569643-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (c)(3) -URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684 + Details
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