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These excerpts taken from the ACI 10-K filed Feb 27, 2009. Interest
rate risk management
In the fourth quarter of 2005, the Company terminated certain
interest rate swap agreements that at one time had been
designated as a hedge of interest rate volatility on floating
rate debt. The amounts that had been deferred in accumulated
other comprehensive income were amortized as additional expense
over the contractual terms of the swap agreements prior to their
termination. For the years ended December 31, 2007 and
2006, the Company recognized $1.9 million and
$4.8 million of expense, respectively, related to the
amortization of the balance in other comprehensive income.
Accrued expenses included in current liabilities consist of the
following:
Table of Contents
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
Interest rate risk management In the fourth quarter of 2005, the Company terminated certain interest rate swap agreements that at one time had been designated as a hedge of interest rate volatility on floating rate debt. The amounts that had been deferred in accumulated other comprehensive income were amortized as additional expense over the contractual terms of the swap agreements prior to their termination. For the years ended December 31, 2007 and 2006, the Company recognized $1.9 million and $4.8 million of expense, respectively, related to the amortization of the balance in other comprehensive income.
Accrued expenses included in current liabilities consist of the following:
Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
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