Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v2.4.0.6
Debt (Tables)
 3 Months Ended
Dec. 31, 2011
Debt [Abstract]  
Interest Rate Swaps
The Company has entered into the following interest rate swaps:

Effective Date
 
Amount
 
 
Fixed Interest Rate
 
 
Interest Rate Spread at December 31, 2011
 
 
Maturity Date
September 2007
 
$
25,000
 
 
 
4.77
 %
 
 
1.25
 %
September 2012
May 2008
 
 
20,000
 
 
 
3.72
 %
 
 
1.25
 %
September 2012
May 2011
 
 
25,000
 
 
 
1.37
 %
 
 
1.25
 %
May 2014
October 2011
 
 
25,000
 
 
 
1.67
 %
 
 
1.25
 %
October 2015
November 2011
 
 
25,000
 
 
 
2.13
 %
 
 
1.25
 %
November 2014
March 2012
 
 
25,000
 
 
 
2.44
 %
 
 
1.25
 %
March 2015
September 2012
 
 
25,000
 
 
 
3.03
 %
 
 
1.25
 %
December 2015
November 2012
 
 
25,000
 
 
 
1.33
 %
 
 
1.25
 %
November 2015
Derivatives Designated as Hedging Instruments
At December 31, 2011 and September 30, 2011, the interest rate swap contracts were reflected as a liability on the balance sheets.  The following derivatives are designated as hedging instruments:

Liability Derivatives
 
 
 
Balance Sheet Location:
 
December 31, 2011
 
 
September 30, 2011
 
Current liabilities:
 
 
 
 
 
 
Other current liabilities
 
$
2,641
 
 
$
2,061
 
Long-term liabilities
 
 
 
 
 
 
 
 
Other liabilities
 
 
4,358
 
 
 
5,100
 
Total derivatives
 
$
6,999
 
 
$
7,161
 
 
Gain (Loss) Recognized on Derivatives
The income recognized on derivatives was as follows:
Location of
 
 
 
Derivatives in
Loss
 
Amount of Loss
 
Cash Flow
Recognized in
 
Recognized in Income
 
Hedging
Income on
 
on Derivatives
 
Relationships
Derivative
 
Three Months Ended December 31,
 
 
2011
 
 
2010
 
 
 
 
 
 
 
Interest rate swaps
Interest expense
 
$
(687
 )
 
$
(757
 )
 
 
 
 
 
 
 
 


The Company recognized the following gains or losses in accumulated other comprehensive loss ("AOCL"):
 
 
 
 
 
 
 
 
 
 
Location of
 
 
 
 
 
 
Gain or
 
 
 
 
 
 
(Loss)
 
 
 
 
 
 
Reclassified
 
Amount of Loss
 
 
Amount of Gain or
 
from
 
Reclassified from
 
Derivatives in
 
(Loss) Recognized in
 
AOCL into
 
AOCL into Income
 
Cash Flow
 
AOCL on Derivatives
 
Income
 
(Effective Portion*)
 
Hedging Relationships
 
December 31,
2011
 
 
December 31,
2010
 
(Effective
Portion*)
 
December 31, 2011
 
 
December 31,
2010
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
$
(320
 )
 
$
15
 
Interest expense
 
$
(419
 )
 
$
(462
 )
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*There is no ineffective portion or amount excluded from effectiveness testing.