Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.4.0.3
Debt (Tables)
6 Months Ended
Mar. 31, 2016
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 March 31, 2016
   
 
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
February 2016
   
25,000
     
0.99%
 
   
1.75%
 
 
February 2020
February 2016
   
25,000
     
1.03%
 
   
1.75%
 
 
February 2022
Derivatives designated as hedging instruments
At March 31, 2016 and September 30, 2015, the interest rate swap contracts were reflected in the consolidated balance sheets as follows:
       
Derivatives
 
March 31, 2016
   
September 30, 2015
 
Current assets:
           
Other current assets
 
$
26
   
$
-
 
Long-term assets:
               
 Other assets
   
126
     
-
 
Current liabilities:
               
Other current liabilities
   
(1,465
)
   
(1,165
)
Long-term liabilities:
               
Other liabilities
   
(4,433
)
   
(2,521
)
Total derivatives
 
$
(5,746
)
 
$
(3,686
)
                 
Loss recognized on derivatives
The loss recognized on derivatives was as follows:
 
 
           
Derivatives in Cash Flow Hedging Relationships
Location of Loss Recognized in Income on Derivative
 
Amount of
   
Amount of
 
 
Loss Recognized
   
Loss Recognized
 
 
in Income
   
in Income
 
 
on Derivatives
   
on Derivatives
 
      
Three Months ended
March 31,
   
Six Months ended
March 31,
 
     
2016
   
2015
   
2016
   
2015
 
                           
Interest rate swaps
Interest expense
 
$
(746
)
 
$
(996
)
 
$
(1,576
)
 
$
(2,073
)
                                   
 
The Company recognized the following gains or losses in AOCI:
Amount of Loss     
       
 
 
Reclassified from
 
   
Amount of
 
 
 
AOCI into
 
 
 
Loss Recognized in
 
Location of Gain or (Loss) Reclassified From AOCI into Income (Effective Portion*)
 
Income
 
Derivatives in Cash Flow Hedging Relationships
 
AOCI on Derivatives
     
(Effective Portion*)
 
   
March 31, 2016
   
March 31, 2015
       
March 31, 2016
   
March 31, 2015
 
                           
Interest rate swaps
 
$
(2,218
)
 
$
(3,212
)
Interest expense
 
$
(961
)
 
$
(1,265
)
                                   
*There is no ineffective portion or amount excluded from effectiveness testing.