DERIVATIVES AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value of derivative instruments
The table below presents the fair value of the Company’s derivative financial instruments designated as cash flow hedges included within the accompanying consolidated statements of financial position (in thousands):
 
Consolidated Statement of
Financial Position Location
 
March 31, 2015
 
December 31, 2014
Interest rate swaps
Other long-term assets
 
$
—

 
$
104

Interest rate swaps
Other current liabilities
 
6,714

 
5,205

Interest rate swaps
Other long-term liabilities
 
11,063

 
2,283
Schedule of effect of the Company's interest rate swaps on the consolidated statements of income
The table below presents the effect of the Company’s interest rate swaps on the accompanying consolidated statements of income for the three months ended March 31, 2015 and 2014 (in thousands): 
 
Three Months Ended
March 31,
 
2015
 
2014
Derivatives in cash flow hedging relationships:
 

 
 

Amount of loss recognized in OCI (effective portion) (1)
$
(11,435
)
 
$
(2,599
)
Amount of loss reclassified from accumulated OCI into earnings (effective portion)
(1,041
)
 
(335
)
Amount of loss recognized in earnings (2)
(1
)
 
(158
)
 
(1)
"OCI" represents other comprehensive income.
(2)
Amount represents hedge ineffectiveness and is recorded as a component of interest expense-net in the accompanying consolidated statement of income.