Quarterly report pursuant to Section 13 or 15(d)

Derivative and Other Comprehensive Income (Tables)

v2.4.0.8
Derivative and Other Comprehensive Income (Tables)
 9 Months Ended
Oct. 05, 2014
Derivative and Other Comprehensive Income  
Schedule of interest rate swaps designated as a cash flow hedge
The following table presents gains and losses on the interest rate swap designated as a cash flow hedge recognized in the Other comprehensive income (“OCI”) and reclassifications from AOCI to earnings for the twelve and forty weeks ended October 5, 2014 and October 6, 2013 (in thousands):
 
 
Gains (Losses) recognized in OCI on derivative (effective portion)
 
Losses reclassified from AOCI into income (effective portion)
 
Gains (Losses) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)
 
 
October 5, 2014
 
October 6, 2013
 
October 5, 2014
 
October 6, 2013
 
October 5, 2014
 
October 6, 2013
Twelve Weeks Ended
 
$
(10
)
 
$
(129
)
 
$
(21
)
 
$
(19
)
 
$
—

 
$
3

Forty Weeks Ended
 
$
(87
)
 
$
(80
)
 
$
(72
)
 
$
(58
)
 
$
2

 
$
3

Schedule of fair value and presentation of interest rate hedging instruments in condensed consolidated balance sheets
The following table summarizes the fair value and presentation of the interest rate swap in the accompanying consolidated balance sheets as hedging instruments as of October 5, 2014 and December 29, 2013 (in thousands):
 
 
Derivative Liability
Balance Sheet Location
 
Fair Value at
October 5, 2014
 
Fair Value at
December 29, 2013
Accrued liabilities
 
$
341

 
$
516

Other non-current liabilities
 
—

 
271

Total derivatives
 
$
341

 
$
787

Schedule of components of accumulated other comprehensive income
The components of accumulated other comprehensive income related to the interest rate swap being used to hedge cash flows as of October 5, 2014 and December 29, 2013 were as follows (in thousands):
 
 
October 5, 2014
 
December 29, 2013
Unrealized loss related to cash flow hedges, pretax
 
$
(48
)
 
$
(43
)
Tax benefit
 
14

 
13

Accumulated other comprehensive loss related to interest rate swap
 
$
(34
)
 
$
(30
)