Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v2.4.0.8
Debt (Tables)
 9 Months Ended
Jun. 30, 2014
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 June 30, 2014
 
Maturity Date
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
June 2012
  40,000
1.88%
1.25%
June 2022
August 2012
  35,000
1.74%
1.25%
June 2022
September 2012
  25,000
3.03%
1.25%
December 2015
September 2012
  25,000
1.24%
1.25%
March 2017
November 2012
  25,000
1.33%
1.25%
November 2015
May 2014
  25,000
1.35%
1.25%
May 2018

Derivatives designated as hedging instruments
At June 30, 2014 and September 30, 2013, the interest rate swap contracts were reflected as net asset and net liability on the balance sheets.  The following derivatives are designated as hedging instruments:

 
      
Balance Sheet Location:
  
June 30, 2014
    
September 30, 2013
  
Current assets
            
Other current assets
   $ 279     $ 427  
Long-term assets
                
Other assets
     1,951       3,309  
Current liabilities:
                
Other current liabilities
     (2,167 )     (2,590 )
Long-term liabilities
                
Other liabilities
     (850 )     (2,054 )
Total derivatives
   $ (787 )   $ (908 )

Loss recognized on derivatives
The loss recognized on derivatives was as follows:

 
Location of
            
Derivatives in
Loss
  
Amount of
    
Amount of
  
Cash Flow
Recognized in
  
Loss Recognized
    
Loss Recognized
  
Hedging
Income on
  
in Income
    
in Income
  
Relationships
Derivative
  
on Derivatives
    
on Derivatives
  
     
Three Months ended June 30,
    
Nine Months ended June 30,
  
     
2014
    
2013
    
2014
    
2013
  
                           
Interest rate swaps
Interest expense
     $(1,987)       $(1,065)       $(4,117)       $(3,094)  
                                   

 
The Company recognized the following losses in AOCI:

               
       
Location of
      
       
Gain or
      
       
(Loss)
  
Amount of Loss
  
       
Reclassified
  
Reclassified from
  
   
Amount of Gain or (Loss)
  
From
  
AOCI into
  
Derivatives in
  
Recognized in
  
AOCI into
  
Income
  
Cash Flow
  
AOCI on Derivatives
  
Income
  
(Effective Portion*)
  
Hedging Relationships
  
June 30,
2014
    
June 30,
2013
  
(Effective
Portion*)
  
June 30, 
2014
    
June 30,
2013
  
                           
Interest rate swaps
     $(2,437)       $2,960  
Interest expense
     $(2,511)       $(1,887)  
                                   
*There is no ineffective portion or amount excluded from effectiveness testing.