CSE » Topics » Interest Rate Swaps

These excerpts taken from the CSE 10-K filed Mar 2, 2009.
Interest Rate Swaps
 
We enter into interest rate swap agreements to minimize the economic effect of interest rate fluctuations specific to our fixed rate debt, certain fixed rate loans and certain sale-leaseback transactions. Interest rate fluctuations result in hedged assets and liabilities appreciating or depreciating in market value. Gain or loss on the derivative instruments will generally offset the effect of unrealized appreciation or depreciation of hedged assets and liabilities for the period the item is being hedged. As of December 31, 2008 and 2007 the fair value of the


163


 

 
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
interest rate swap derivative asset was $53.0 million and $45.4 million, respectively. As of December 31, 2008 and 2007 the fair value of the interest rate swap derivative liability was $127.6 million and $71.6 million, respectively.
 
Interest Rate Swaps
 
We enter into interest rate swap agreements to minimize the economic effect of interest rate fluctuations specific to our fixed rate debt, certain fixed rate loans and certain sale-leaseback transactions. Interest rate fluctuations result in hedged assets and liabilities appreciating or depreciating in market value. Gain or loss on the derivative instruments will generally offset the effect of unrealized appreciation or depreciation of hedged assets and liabilities for the period the item is being hedged. As of December 31, 2008 and 2007 the fair value of the


163


 

 
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
interest rate swap derivative asset was $53.0 million and $45.4 million, respectively. As of December 31, 2008 and 2007 the fair value of the interest rate swap derivative liability was $127.6 million and $71.6 million, respectively.
 
These excerpts taken from the CSE 10-K filed Feb 29, 2008.
Interest Rate Swaps
 
We enter into interest rate swap agreements to minimize the economic effect of interest rate fluctuations specific to our fixed rate debt, certain fixed rate loans and certain sale-leaseback transactions. Interest rate fluctuations result in hedged assets and liabilities appreciating or depreciating in market value. Gain or loss on the derivative instruments will generally offset the effect of unrealized appreciation or depreciation of hedged assets


133


 

 
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
and liabilities for the period the item is being hedged. As of December 31, 2007 and 2006, the fair values of these interest rate swaps were $(26.2) million and $2.1 million, respectively.
 
Interest
Rate Swaps



 



We enter into interest rate swap agreements to minimize the
economic effect of interest rate fluctuations specific to our
fixed rate debt, certain fixed rate loans and certain
sale-leaseback transactions. Interest rate fluctuations result
in hedged assets and liabilities appreciating or depreciating in
market value. Gain or loss on the derivative instruments will
generally offset the effect of unrealized appreciation or
depreciation of hedged assets





133





 





 




NOTES TO
THE CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)


 



and liabilities for the period the item is being hedged. As of
December 31, 2007 and 2006, the fair values of these
interest rate swaps were $(26.2) million and
$2.1 million, respectively.


 




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