Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

 v2.3.0.11
Debt (Tables)
 9 Months Ended
Jun. 30, 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 June 30, 2011
 
Maturity Date
September 2007
$25,000
4.77%
1.25%
September 2012
May 2008
  20,000
3.72%
1.25%
September 2012
October 2008
  20,000
3.46%
1.25%
October 2011
May 2011
  25,000
1.37%
1.25%
May 2014
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

Derivatives Designated as Hedging Instruments
At June 30, 2011 and September 30, 2010, 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:
  
June 30, 2011
    
September 30, 2010
  
Current liabilities:
            
Other current liabilities
   $ 2,181     $ 2,623  
Long-term liabilities
                
Other liabilities
     2,396       1,822  
Total derivatives
   $ 4,577     $ 4,445  

Gain (Loss) Recognized on Derivatives
The loss recognized on derivatives was as follows:

   
Location of
        
Derivatives in
  
Gain or (Loss)
  
Amount of
  
Amount of
Cash Flow
  
Recognized in
  
Loss Recognized
  
Loss Recognized
Hedging
  
Income (Loss) on
  
in Income (Loss)
  
in Income (Loss)
Relationships
  
Derivative
  
on Derivatives
  
on Derivatives
       
Three Months ended June 30,
  
Nine Months ended June 30,
       
2011
  
2010
  
2011
  
2010
                     
Interest rate swaps
  
Interest expense
  
$ (719)
  
$ (926)
  
$ (2,178)
  
$ (2,819)
                     

The Company recognized the following losses in accumulated other comprehensive loss (“OCL”):

       
Location of
    
       
Gain or
    
       
(Loss)
    
       
Reclassified
  
Amount of Gain or (Loss)
       
from
  
Reclassified from
   
Amount of Gain or
  
Accumulated
  
Accumulated OCL into
Derivatives in
  
(Loss) Recognized in
  
OCL into
  
Income
Cash Flow
  
OCL on Derivatives
  
Income
  
(Effective Portion*)
Hedging Relationships
  
June 30,
2011
  
June 30,
2010
  
(Effective
Portion*)
  
June 30, 
 2011
  
June 30,
2010
                     
Interest rate swaps
  
$ (1,410)
  
$ (1,145)
  
Interest expense
  
$ (1,329)
  
$ (1,720)
                     
*There is no ineffective portion or amount excluded from effectiveness testing.