Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.10.0.1
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Cash flow hedging derivatives on the Balance Sheet
The table below presents the notional and fair value of the Swap Agreements as well as their classification in the Condensed Consolidated Balance Sheets as of September 30, 2018 and December 31, 2017:
 
Balance Sheet Location
 
Notional
 
Fair Value
 
 
 
(in thousands)
Derivatives designated as cash flow hedging instruments:
 
 
 
 
 
Swap agreements as of September 30, 2018
Other assets
 
$
75,000

 
$
1,286

Swap agreements as of December 31, 2017
Other assets
 
$
75,000

 
$
1,329

Gain (loss) on Derivatives
The tables below present the amount of gains and losses related to the effective and ineffective portions of the Swap Agreements and their location in the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2018 and 2017, in thousands:
 
 
Effective Portion
 
Ineffective Portion
Derivatives Designated as Cash Flow Hedges
 
Gain (Loss) Recognized in OCI
 
Location of Gain (Loss) Recognized in Income
 
Gain (Loss) Recognized in Income
 
Location of Gain (Loss) Recognized in Income
 
Gain (Loss) Recognized in Income
Three months ended September 30, 2018:
 
 
 
 
 
 
 
 
Swap agreements, net of tax
 
$
44

 
Interest expense and other
 
$
170

 
Interest expense and other
 
$
(10
)
Three months ended September 30, 2017:
 
 
 
 
 
 
 
 
Swap agreements, net of tax
 
$
29

 
Interest expense and other
 
$
39

 
Interest expense and other
 
$
(13
)

 
 
Effective Portion
 
Ineffective Portion
Derivatives Designated as Cash Flow Hedges
 
Gain (Loss) Recognized in OCI
 
Location of Gain (Loss) Recognized in Income
 
Gain (Loss) Recognized in Income
 
Location of Gain (Loss) Recognized in Income
 
Gain (Loss) Recognized in Income
Nine months ended September 30, 2018:
 
 
 
 
 
 
 
 
Swap agreements, net of tax
 
$
410

 
Interest expense and other
 
$
413

 
Interest expense and other
 
$
(40
)
Nine months ended September 30, 2017:
 
 
 
 
 
 
 
 
Swap agreements, net of tax
 
$
102

 
Interest expense and other
 
$
30

 
Interest expense and other
 
$
(41
)