Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.3.1.900
Debt (Tables)
 3 Months Ended
Dec. 31, 2015
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, 2015
 
Maturity Date
June 2012
$40,000
1.88%
1.75%
June 2022
August 2012
  35,000
1.74%
1.75%
June 2022
September 2012
  25,000
1.24%
1.75%
March 2017
May 2014
  25,000
1.35%
1.75%
May 2018
November 2014
  25,000
1.26%
1.75%
June 2018
March 2015
  25,000
1.49%
1.75%
March 2019
September 2015
  25,000
1.39%
1.75%
September 2020
November 2015
  25,000
1.32%
1.75%
November 2020
December 2015
  25,000
1.59%
1.75%
December 2020
Derivatives designated as hedging instruments
At December 31, 2015 and September 30, 2015, the interest rate swap contracts were reflected in the consolidated balance sheets as follows:
     
Derivatives
  
December 31, 2015
    
September 30, 2015
  
Current assets:
        
Other current assets
  
$
26
    
$
-
  
Long-term assets:
                
 Other assets
    
99
      
-
  
Current liabilities:
                
Other current liabilities
    
(420
)
    
(1,165
)
Long-term liabilities:
                
Other liabilities
    
(797
)
    
(2,521
)
Total derivatives
  
$
(1,092
)
  
$
(3,686
)
Loss recognized on derivatives
The loss 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,
   
  2015
2014
          
Interest rate swaps
Interest expense
$(830)
$(1,077)

The Company recognized the following gains or losses in AOCI:

     
Location of
    
     
Gain or
    
     
  (Loss)
    
     
Reclassified
  
Amount of Loss
  
   
Amount of Gain or (Loss)
  
from
  
Reclassified from
  
Derivatives in
  
Recognized in
  
AOCI into
  
AOCI into Income
  
Cash Flow
  
AOCI on Derivatives
  
Income
  
(Effective Portion*)
  
Hedging Relationships
  
December 31,
 2015
    
December 31,
 2014
  
(Effective
Portion*)
  
December 31, 2015
    
December 31,
 2014
  
                   
Interest rate swaps
  
 
$1,076
    
 
$(1,468)
 
Interest expense
  
 
$(506)
 
  
 
$(657)
 
                                   
*There is no ineffective portion or amount excluded from effectiveness testing.