Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments Derivative Financial Instruments

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Derivative Financial Instruments Derivative Financial Instruments
3 Months Ended
Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Derivative Financial Instruments
On March 31, 2016, the Company entered into two interest rate swap agreements ("Swap Agreements"), which are designed to mitigate the Company's exposure to interest rate risk associated with our variable rate debt. The Swap Agreements cover an aggregate notional amount of $75.0 million from March 2016 to September 2019 by replacing the obligation's variable rate with a blended fixed rate of 0.89%. The Company designated the Swap Agreement as a cash flow hedge. The interest rate swaps had an aggregate fair value of $(0.1) million at the end of the first quarter of 2016 and are included in "Other long-term liabilities" in the accompanying Condensed Consolidated Balance Sheets. We estimate that $242 will be reclassified from accumulated other comprehensive loss as an increase to interest expense over the next twelve months.