Annual report pursuant to Section 13 and 15(d)

INTEREST RATE SWAP AGREEMENT (Tables)

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INTEREST RATE SWAP AGREEMENT (Tables)
12 Months Ended
Dec. 31, 2015
Interest Rate Swap Agreement Designated as Hedge Agreement

Below is a summary of the Company’s interest rate swap agreement designated as cash flow hedge as of December 31, 2015:

 

Notional
Amount

   Effective Date      Pay Rate     Receive Rate      Expiration Date      Estimated
Total Fair
Value at
December 31,
2015 (1)
 

$100,000

     November 2011         1.7150     1-Month LIBOR         April 2016       $ 373   

 

(1) 

Included in accrued other current liabilities on the consolidated balance sheet as of December 31, 2015.

Interest Rate Swap  
Changes in Accumulated Other Comprehensive Loss, Net of Taxes

The changes in accumulated other comprehensive loss, net of taxes, related to the Company’s interest rate swap agreements for the years ended December 31, 2013, 2014 and 2015 were as follows:

 

     2013      2014      2015  

Beginning balances — January 1

   $ (8,867    $ (5,716    $ (2,870
  

 

 

    

 

 

    

 

 

 

Other comprehensive loss before reclassifications, net of taxes

     (2,668      (3,169      (2,154

Amounts reclassified from accumulated other comprehensive loss to interest expense,

net of taxes

     5,819         6,015         4,790   
  

 

 

    

 

 

    

 

 

 

Net other comprehensive income

     3,151         2,846         2,636   
  

 

 

    

 

 

    

 

 

 

Ending balances — December 31

   $ (5,716    $ (2,870    $ (234