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Derivative Financial Instruments
 6 Months Ended
Jun. 30, 2012
Derivative Financial Instruments [Abstract]  
Derivative Financial Instruments
(5) Derivative Financial Instruments

The Company’s interest rate swap agreements expired in 2011 therefore it is no longer a party to any derivative financial instruments. Prior to these expirations, the Company used interest rate swap agreements as part of its interest rate risk management strategy to fix its cost of variable rate debt and designated those swap agreements as cash flow hedges of its variable rate debt. The fair values of the expired interest rate swap agreements were determined using observable inputs. The inputs were quotes from the counterparties to the interest rate swap agreements.

A summary of activity relating to the expired interest rate swap agreements designated as cash flow hedges is as follows:

 

                 
    Three months ended June 30,  
    2011     2012  

Loss recognized in other comprehensive income

   $ (18,267 )    $ —    

Loss reclassified from other comprehensive income to interest expense

       405,437       —    

 

                 
      Six months ended June 30,    
    2011     2012  

Loss recognized in other comprehensive income

   $ (36,662 )    $ —    

Loss reclassified from other comprehensive income to interest expense

     1,187,409       —