Annual report pursuant to Section 13 and 15(d)

Financial Instruments (Tables)

v3.8.0.1
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivatives Held
The fair values of derivative instruments held as of December 31, 2017 and 2016 are shown below:
 
 
 
 
December 31,
 
 
Balance sheet location 
 
2017
 
2016
Asset derivatives:
 
 
 
 
 
 
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
Natural gas swaps
 
Current assets
 
$
—

 
$
573

Interest rate caps
 
Current assets
 
44

 
—

Natural gas swaps
 
Other long-term assets
 
—

 
58

Interest rate caps
 
Other long-term assets
 
999

 
5,803

Total asset derivatives
 
 
 
$
1,043

 
$
6,434

 
 
 
 
 
 
 
Liability derivatives:
 
 
 
 
 
 
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
Natural gas swaps
 
Current liabilities
 
$
318

 
$
—

Natural gas swaps
 
Other long-term liabilities
 
130

 
—

Total liability derivatives
 
 
 
$
448

 
$
—

 
 
 
 
 
 
 
Effect of Derivative Instruments Designated as Hedges on Other Comprehensive Income
The following table shows the effect of the Company’s derivative instruments designated as hedges on other comprehensive income (loss) (“OCI”) and the statements of operations for the years ended December 31, 2017 and 2016:
 
 
 
 
December 31,
 
 
Location in earnings
 
2017
 
2016
Derivatives designated as cash flow hedges: 
 
 
 
 
 
 
AOCI derivative gain at beginning of year
 
 
 
$
4,881

 
$
—

Effective portion of changes in fair value recognized in OCI:
 
 
 
 
 
 
Interest rate caps
 
 
 
(4,760
)
 
4,250

Natural gas swaps
 
 
 
(1,300
)
 
(802
)
Amount of loss reclassified from OCI to earnings:
 
 
 
 
 
 
Interest rate caps
 
Interest expense
 
40

 
—

Natural gas swaps
 
Cost of goods sold
 
222

 
1,433

AOCI derivative gain (loss) at end of year
 
 
 
$
(917
)
 
$
4,881