Pool (POOL) 10-Q 30 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014	Jun. 28, 2013
Entities [Table]	'	'	'
Entity Registrant Name	'POOL CORP	'	'
Entity Central Index Key	'0000945841	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Well-known Seasoned Issuer	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Public Float	'	'	$2,335,282,998
Entity Common Stock, Shares Outstanding	'	44,055,443	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q2	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Jun-14	'	'

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Net sales	$848,240	$790,392	$1,254,584	$1,160,754
Cost of sales	601,264	562,226	893,508	827,827
Gross profit	246,976	228,166	361,076	332,927
Selling and administrative expenses	124,477	116,173	229,931	214,002
Operating income	122,499	111,993	131,145	118,925
Interest expense, net	1,894	2,081	3,827	3,695
Income before income taxes and equity earnings	120,605	109,912	127,318	115,230
Provision for income taxes	46,796	43,416	49,400	45,312
Equity earnings in unconsolidated investments	54	37	133	55
Net income	$73,863	$66,533	$78,051	$69,973
Earnings per share:	'	'	'	'
Basic (in dollars per share)	$1.65	$1.43	$1.74	$1.50
Diluted (in dollars per share)	$1.61	$1.39	$1.69	$1.47
Weighted average shares outstanding: [Abstract]	'	'	'	'
Basic (in shares)	44,769	46,659	44,972	46,523
Diluted (in shares)	45,971	47,882	46,160	47,758
Cash dividends declared per common share	$0.22	$0.19	$0.41	$0.35

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income	$73,863	$66,533	$78,051	$69,973
Other comprehensive income (loss):	'	'	'	'
Foreign currency translation adjustments	392	-1,159	-455	-232
Change in unrealized gains and losses on interest rate swaps, net of tax	-334	994	-218	1,204
Total other comprehensive income (loss)	58	-165	-673	972
Comprehensive income	$73,921	$66,368	$77,378	$70,945

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Parenthetical) (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Other comprehensive income (loss) :	'	'	'	'
Tax effect of change in unrealized gains and losses on interest rate swaps	$213	($636)	$139	($769)

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Current assets:	'	'	'
Cash and cash equivalents	$27,563	$8,006	$26,936
Receivables, net	97,527	45,138	281,064
Receivables pledged under receivables facility	208,973	80,149	0
Product inventories, net	451,507	429,197	424,679
Prepaid expenses and other current assets	10,055	9,802	10,219
Deferred income taxes	5,416	5,457	5,103
Total current assets	801,041	577,749	748,001
Property and equipment, net	57,275	52,328	51,110
Goodwill	173,800	171,974	169,983
Other intangible assets, net	10,725	10,196	10,592
Equity interest investments	1,263	1,243	1,190
Other assets, net	11,344	10,271	9,133
Total assets	1,055,448	823,761	990,009
Current liabilities:	'	'	'
Accounts payable	233,549	214,596	239,976
Accrued expenses and other current liabilities	89,200	49,301	79,844
Current portion of long-term debt and other long-term liabilities	0	9	20
Total current liabilities	322,749	263,906	319,840
Deferred income taxes	19,979	19,108	15,263
Long-term debt	430,971	246,418	300,426
Other long-term liabilities	10,432	8,147	7,871
Total liabilities	784,131	537,579	643,400
Stockholders' equity:	'	'	'
Common stock	44	45	47
Additional paid-in capital	325,415	310,503	297,120
Retained (deficit) earnings	-56,381	-27,278	48,605
Accumulated other comprehensive income	2,239	2,912	837
Total stockholders' equity	271,317	286,182	346,609
Total liabilities and stockholders' equity	$1,055,448	$823,761	$990,009

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013
Statement of Financial Position [Abstract]	'	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00	$0.00
Common stock, authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, shares issued (in shares)	44,133,304	45,378,785	46,667,820
Common stock, outstanding (in shares)	44,133,304	45,378,785	46,667,820

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating activities	'	'
Net income	$78,051	$69,973
Adjustments to reconcile net income to net cash used in operating activities:	'	'
Depreciation	7,021	6,338
Amortization	696	622
Share-based compensation	4,657	4,111
Excess tax benefits from share-based compensation	-3,920	-3,187
Equity earnings in unconsolidated investments	-133	-55
Other	-73	-1,633
Changes in operating assets and liabilities, net of effects of acquisitions:	'	'
Receivables	-180,075	-165,713
Product inventories	-21,936	-24,134
Prepaid expenses and other assets	-1,350	459
Accounts payable	18,065	39,458
Accrued expenses and other current liabilities	48,109	40,783
Net cash used in operating activities	-50,888	-32,978
Investing activities	'	'
Acquisition of businesses, net of cash acquired	-4,612	-1,188
Purchase of property and equipment, net of sale proceeds	-11,921	-10,500
Other investments, net	96	29
Net cash used in investing activities	-16,437	-11,659
Financing activities	'	'
Proceeds from revolving line of credit	457,218	399,472
Payments on revolving line of credit	-380,665	-329,928
Proceeds from asset-backed financing	121,600	0
Payments on asset-backed financing	-13,600	0
Payments on long-term debt and other long-term liabilities	0	-10
Excess tax benefits from share-based compensation	3,920	3,187
Proceeds from stock issued under share-based compensation plans	6,335	13,489
Payments of cash dividends	-18,410	-16,308
Purchases of treasury stock	-88,745	-10,437
Net cash provided by financing activities	87,653	59,465
Effect of exchange rate changes on cash and cash equivalents	-771	-355
Change in cash and cash equivalents	19,557	14,473
Cash and cash equivalents at beginning of period	8,006	12,463
Cash and cash equivalents at end of period	$27,563	$26,936

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Note 1 – Summary of Significant Accounting Policies
	Pool Corporation (the Company, which may be referred to as we, us or our) prepared the unaudited interim Consolidated Financial Statements following U.S. generally accepted accounting principles (GAAP) and the requirements of the Securities and Exchange Commission (SEC) for interim financial information. As permitted under those rules, we have condensed or omitted certain footnotes and other financial information required for complete financial statements.  The Consolidated Financial Statements include all normal and recurring adjustments that are necessary for a fair presentation of our financial position and operating results including the elimination of all significant intercompany accounts and transactions among our wholly owned subsidiaries.
	A description of our significant accounting policies is included in our 2013 Annual Report on Form 10-K. You should read the interim Consolidated Financial Statements in conjunction with the Consolidated Financial Statements and accompanying notes in our Annual Report.  The results for our three and six month periods ended June 30, 2014 are not necessarily indicative of the expected results for our fiscal year ending December 31, 2014.
	Retained Deficit
	We account for the retirement of treasury shares as a reduction of retained earnings (deficit).   As of June 30, 2014, the Retained deficit on our Consolidated Balance Sheets reflects cumulative net income, the cumulative impact of adjustments for changes in accounting pronouncements, treasury share retirements since the inception of our share repurchase programs of $767.9 million and cumulative dividends of $255.7 million.

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Note 2 – Earnings Per Share
	We calculate basic earnings per share (EPS) by dividing net income by the weighted average number of common shares outstanding.  We include outstanding unvested restricted stock awards of our common stock in the basic weighted average share calculation.  Diluted EPS includes the dilutive effects of other share-based awards.  Stock options with exercise prices that are higher than the average market prices of our common stock for the periods presented are excluded from the diluted EPS calculation because their effect is anti-dilutive.
	The table below presents the computation of EPS, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except EPS):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Net income	$	73,863	$	66,533	$	78,051	$	69,973
	Weighted average shares outstanding:
	Basic	44,769		46,659		44,972		46,523
	Effect of dilutive securities:
	Stock options and employee stock purchase plan	1,202		1,223		1,188		1,235
	Diluted	45,971		47,882		46,160		47,758
	Earnings per share:
	Basic	$	1.65	$	1.43	$	1.74	$	1.5
	Diluted	$	1.61	$	1.39	$	1.69	$	1.47
	Anti-dilutive stock options excluded from diluted earnings per share computations	—		—		169		1

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Acquisitions	'
	Note 3 – Acquisitions
	In February 2014, we acquired certain distribution assets of Atlantic Chemical & Aquatics Inc., a regional swimming pool products distributor based in Nova Scotia with two sales center locations serving the Maritime Provinces of Canada. In March 2014, we acquired certain distribution assets of DFW Stone Supply, LLC, a distributor of natural stone and rock products and masonry supplies with two sales center locations in the Dallas, Texas metropolitan area.
	We completed our preliminary acquisition accounting for these acquisitions, subject to adjustments in accordance with the terms of the purchase agreements during the respective one year measurement periods.  These acquisitions did not have a material impact on our financial position or results of operations.
	In March 2013, we acquired certain distribution assets of Swimming Pool Supply Center, Inc., a local swimming pool products distributor with one sales center location in Los Angeles, California. This sales center operates as a satellite location to more efficiently serve our west Los Angeles customers. In May 2013, we acquired certain distribution assets of B. Shapiro Supply, LLC, a swimming pool and hardscape products distributor with one sales center location in Warminster, Pennsylvania.
	We completed our acquisition accounting for these acquisitions.  These acquisitions did not have a material impact on our financial position or results of operations.

Fair_Value_Measurements_and_In

Fair Value Measurements and Interest Rate Swaps	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements and Interest Rate Swaps	'
	Note 4 – Fair Value Measurements and Interest Rate Swaps
	Our assets and liabilities that are measured at fair value on a recurring basis include the unrealized gains or losses on our interest rate swap contracts.  We use significant other observable market data or assumptions (Level 2 inputs as defined in the accounting guidance) that we believe market participants would use in pricing similar assets or liabilities, including assumptions about counterparty risk.  Our fair value estimates reflect an income approach based on the terms of the interest rate swap contracts and inputs corroborated by observable market data including interest rate curves.
	We have five interest rate swap contracts in place to reduce our exposure to fluctuations in interest rates on our unsecured syndicated senior credit facility (the Credit Facility).  These swaps convert the variable interest rate to a fixed interest rate on borrowings under the Credit Facility.  Each of these swap contracts terminates on October 19, 2016.  The following table provides additional details related to each of these swap contracts:
	Derivative	Effective Date		Notional	Fixed
				Amount	Interest
				(in millions)	Rate
	Interest rate swap 1	November 21, 2011		$25.00	1.19%
	Interest rate swap 2	November 21, 2011		$25.00	1.19%
	Interest rate swap 3	December 21, 2011		$50.00	1.10%
	Interest rate swap 4	January 17, 2012		$25.00	1.05%
	Interest rate swap 5	January 19, 2012		$25.00	0.99%
	In May 2014, we entered into four forward-starting interest rate swap contracts to reduce our exposure to future fluctuations in interest rates on our Credit Facility.  These swaps will convert the variable interest rate to a fixed interest rate on borrowings under the Credit Facility.  Each of these forward‑starting swap contracts becomes effective on October 19, 2016 and terminates on September 20, 2018.  The following table provides additional details related to each of these new swap contracts:
	Derivative	Inception Date		Notional	Fixed
				Amount	Interest
				(in millions)	Rate
	Forward-starting interest rate swap 1	May 8, 2014		$25.00	2.52%
	Forward-starting interest rate swap 2	May 14, 2014		$50.00	2.45%
	Forward-starting interest rate swap 3	May 19, 2014		$50.00	2.34%
	Forward-starting interest rate swap 4	May 28, 2014		$25.00	2.26%
	We recognize any differences between the variable interest rate payments and the fixed interest rate settlements from our swap counterparties as an adjustment to interest expense over the life of the swaps.  We have designated these swaps as cash flow hedges and we record the changes in the estimated fair value of the swaps to Accumulated other comprehensive income (loss) on our Consolidated Balance Sheets.  If our interest rate swaps became ineffective, we would immediately recognize the changes in the estimated fair value of our swaps in earnings.  Since inception, we have not recognized any gains or losses on these swaps through income and there has been no effect on income from hedge ineffectiveness.
	For our five interest rate swap contracts currently in effect, a portion of the change in the estimated fair value between periods relates to future interest expense. Recognition of the change in fair value between periods attributable to accrued interest is reclassified from Accumulated other comprehensive income (loss) to Interest expense, net on the Consolidated Statements of Income. These amounts were not material in the first six months of 2014 and 2013.
	The table below presents the estimated fair value of our interest rate swap contracts and our forward-starting interest rate swap contracts (in thousands):
		Fair Value at
		June 30,
	Level 2	2014			2013
	Unrealized Gains on Interest Rate Swaps	$	19		$	—
	Unrealized Losses on Interest Rate Swaps	$	(2,086	)	$	(1,431	)
	We include unrealized losses in Accrued expenses and other current liabilities and unrealized gains in Prepaid expenses and other current assets on the Consolidated Balance Sheets.
	Failure of our swap counterparties would result in the loss of any potential benefit to us under our swap contracts.  In this case, we would still be obligated to pay the variable interest payments underlying the Credit Facility.  Additionally, failure of our swap counterparties would not eliminate our obligation to continue to make payments under our existing swap contracts if we continue to be in a net pay position.
	The carrying values of cash, receivables, accounts payable and accrued liabilities approximate fair value due to the short maturity of those instruments and the carrying value of long-term debt approximates fair value.  Our determination of the estimated fair value of long-term debt reflects a discounted cash flow model using our estimates, primarily those related to assumptions for borrowing rates (Level 3 inputs as defined in the accounting guidance).

LongTerm_Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	Note 5 – Long-Term Debt
	The table below presents the components of our long-term debt at June 30, 2014 and June 30, 2013 (in thousands):
		June 30,
		2014		2013
	Long-term debt, variable rate:
	Revolving Credit Facility	$	270,971	$	300,426
	Receivables Securitization Facility	160,000		—
	Total debt	$	430,971	$	300,426
	The Receivables Securitization Facility (the Receivables Facility) provides for the sale of certain of our receivables to a wholly owned subsidiary (the Securitization Subsidiary). The Securitization Subsidiary transfers variable undivided percentage interests in the receivables and related rights to certain third party financial institutions in exchange for cash proceeds, limited to the applicable funding capacities. Upon payment of the receivables by customers, rather than remitting to the financial institutions the amounts collected, we retain such collections as proceeds for the sale of new receivables until payments become due.
	We account for the sale of the receivable interests as a secured borrowing on our Consolidated Balance Sheets. The receivables subject to the agreement collateralize the cash proceeds received from the third party financial institutions. We classify the entire outstanding balance as Long-term debt on our Consolidated Balance Sheets as we intend to refinance the obligations on a long‑term basis. We present the receivables that collateralize the cash proceeds separately as Receivables pledged under receivables facility on our Consolidated Balance Sheets.
	On June 25, 2014, we amended the Receivables Purchase Agreement under the Receivables Facility. This extended the date through which we can utilize additional seasonal funding of up to $40.0 million, to July 31. This additional amount was previously only available between April 1 and June 30.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Computation of earnings per share and reconciliation of basic and diluted weighted average common shares outstanding	'
	The table below presents the computation of EPS, including the reconciliation of basic and diluted weighted average shares outstanding (in thousands, except EPS):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Net income	$	73,863	$	66,533	$	78,051	$	69,973
	Weighted average shares outstanding:
	Basic	44,769		46,659		44,972		46,523
	Effect of dilutive securities:
	Stock options and employee stock purchase plan	1,202		1,223		1,188		1,235
	Diluted	45,971		47,882		46,160		47,758
	Earnings per share:
	Basic	$	1.65	$	1.43	$	1.74	$	1.5
	Diluted	$	1.61	$	1.39	$	1.69	$	1.47
	Anti-dilutive stock options excluded from diluted earnings per share computations	—		—		169		1

Fair_Value_Measurements_and_In1

Fair Value Measurements and Interest Rate Swaps (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative [Line Items]	'
Estimated fair value of swap contracts	'
	The table below presents the estimated fair value of our interest rate swap contracts and our forward-starting interest rate swap contracts (in thousands):
		Fair Value at
		June 30,
	Level 2	2014			2013
	Unrealized Gains on Interest Rate Swaps	$	19		$	—
	Unrealized Losses on Interest Rate Swaps	$	(2,086	)	$	(1,431	)
Interest Rate Swap Agreements[Member]	'
Derivative [Line Items]	'
Schedule of Interest Rate Derivatives	'
	The following table provides additional details related to each of these swap contracts:
	Derivative	Effective Date		Notional	Fixed
				Amount	Interest
				(in millions)	Rate
	Interest rate swap 1	November 21, 2011		$25.00	1.19%
	Interest rate swap 2	November 21, 2011		$25.00	1.19%
	Interest rate swap 3	December 21, 2011		$50.00	1.10%
	Interest rate swap 4	January 17, 2012		$25.00	1.05%
	Interest rate swap 5	January 19, 2012		$25.00	0.99%
Forward-Starting Interest Rate Swap Agreements[Member]	'
Derivative [Line Items]	'
Schedule of Interest Rate Derivatives	'
	The following table provides additional details related to each of these new swap contracts:
	Derivative	Inception Date		Notional	Fixed
				Amount	Interest
				(in millions)	Rate
	Forward-starting interest rate swap 1	May 8, 2014		$25.00	2.52%
	Forward-starting interest rate swap 2	May 14, 2014		$50.00	2.45%
	Forward-starting interest rate swap 3	May 19, 2014		$50.00	2.34%
	Forward-starting interest rate swap 4	May 28, 2014		$25.00	2.26%

LongTerm_Debt_Tables

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Debt [Table Text Block]	'
	The table below presents the components of our long-term debt at June 30, 2014 and June 30, 2013 (in thousands):
		June 30,
		2014		2013
	Long-term debt, variable rate:
	Revolving Credit Facility	$	270,971	$	300,426
	Receivables Securitization Facility	160,000		—
	Total debt	$	430,971	$	300,426

Summary_of_Significant_Account1

Summary of Significant Accounting Policies Retained Deficit (Details) (USD $)	Jun. 30, 2014
In Millions, unless otherwise specified
Retained Earnings (Accumulated Deficit) [Abstract]	'
Cumulative share repurchases	$767.90
Cumulative dividends declared	$255.70

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Net income	$73,863	$66,533	$78,051	$69,973
Weighted average shares outstanding: [Abstract]	'	'	'	'
Basic (in shares)	44,769	46,659	44,972	46,523
Effect of dilutive securities: [Abstract]	'	'	'	'
Stock options and employee stock purchase plan (in shares)	1,202	1,223	1,188	1,235
Diluted (in shares)	45,971	47,882	46,160	47,758
Basic (in dollars per share)	$1.65	$1.43	$1.74	$1.50
Diluted (in dollars per share)	$1.61	$1.39	$1.69	$1.47
Anti-dilutive stock options excluded from diluted earnings per share computations (in shares)	0	0	169	1

Acquisitions_Details

Acquisitions (Details)	Jun. 30, 2014
DFW Stone Supply, LLC [Member]	'
Business Acquisition [Line Items]	'
Number of sales centers	2
Atlantic Chemical & Aquatics Inc. [Member]	'
Business Acquisition [Line Items]	'
Number of sales centers	2
B. Shapiro Supply, LLC [Member]	'
Business Acquisition [Line Items]	'
Number of sales centers	1
SPSC, Inc. [Member]	'
Business Acquisition [Line Items]	'
Number of sales centers	1

Fair_Value_Measurements_and_In2

Fair Value Measurements and Interest Rate Swaps (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Interest Rate Swap 1 [Member]	'
Derivative [Line Items]	'
Interest rate swap agreement, effective date	21-Nov-11
Interest rate swap agreement, notional amount	$25
Interest rate swap agreement, fixed interest rate	1.19%
Interest rate swap agreement, termination date	19-Oct-16
Interest Rate Swap 2 [Member]	'
Derivative [Line Items]	'
Interest rate swap agreement, effective date	21-Nov-11
Interest rate swap agreement, notional amount	25
Interest rate swap agreement, fixed interest rate	1.19%
Interest rate swap agreement, termination date	19-Oct-16
Interest Rate Swap 3 [Member]	'
Derivative [Line Items]	'
Interest rate swap agreement, effective date	21-Dec-11
Interest rate swap agreement, notional amount	50
Interest rate swap agreement, fixed interest rate	1.10%
Interest rate swap agreement, termination date	19-Oct-16
Interest Rate Swap 4 [Member]	'
Derivative [Line Items]	'
Interest rate swap agreement, effective date	17-Jan-12
Interest rate swap agreement, notional amount	25
Interest rate swap agreement, fixed interest rate	1.05%
Interest rate swap agreement, termination date	19-Oct-16
Interest Rate Swap 5 [Member]	'
Derivative [Line Items]	'
Interest rate swap agreement, effective date	19-Jan-12
Interest rate swap agreement, notional amount	$25
Interest rate swap agreement, fixed interest rate	0.99%
Interest rate swap agreement, termination date	19-Oct-16

Fair_Value_Measurements_and_In3

Fair Value Measurements and Interest Rate Swaps (Details 2) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Forward-starting Interest Rate Swap 1 [Member]	'
Derivative [Line Items]	'
Forward-starting interest rate swap agreement, inception date	8-May-14
Forward-starting interest rate swap agreement, effective date	19-Oct-16
Forward-starting interest rate swap agreement, notional amount	$25
Forward-starting interest rate swap agreement, fixed interest rate	2.52%
Forward-starting interest rate swap agreement, termination date	20-Sep-18
Forward-starting Interest Rate Swap 2 [Member]	'
Derivative [Line Items]	'
Forward-starting interest rate swap agreement, inception date	14-May-14
Forward-starting interest rate swap agreement, effective date	19-Oct-16
Forward-starting interest rate swap agreement, notional amount	50
Forward-starting interest rate swap agreement, fixed interest rate	2.45%
Forward-starting interest rate swap agreement, termination date	20-Sep-18
Forward-starting Interest Rate Swap 3 [Member]	'
Derivative [Line Items]	'
Forward-starting interest rate swap agreement, inception date	19-May-14
Forward-starting interest rate swap agreement, effective date	19-Oct-16
Forward-starting interest rate swap agreement, notional amount	50
Forward-starting interest rate swap agreement, fixed interest rate	2.34%
Forward-starting interest rate swap agreement, termination date	20-Sep-18
Forward-starting Interest Rate Swap 4 [Member]	'
Derivative [Line Items]	'
Forward-starting interest rate swap agreement, inception date	28-May-14
Forward-starting interest rate swap agreement, effective date	19-Oct-16
Forward-starting interest rate swap agreement, notional amount	$25
Forward-starting interest rate swap agreement, fixed interest rate	2.26%
Forward-starting interest rate swap agreement, termination date	20-Sep-18

Fair_Value_Measurements_and_In4

Fair Value Measurements and Interest Rate Swaps (Details 3) (USD $)	Jun. 30, 2014	Jun. 30, 2013
In Thousands, unless otherwise specified
Prepaid Expenses and Other Current Assets [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Unrealized Gains on Interest Rate Swaps	$19	$0
Accrued Expenses and Other Current Liabilities [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Unrealized Losses on Interest Rate Swaps	($2,086)	($1,431)

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Debt Instrument [Line Items]	'	'
Additional Seasonal Borrowing Capacity	$40,000,000	'
Long-term debt [Abstract]	'	'
Total debt	430,971,000	300,426,000
Receivables Securitization Facility [Member]	'	'
Long-term debt [Abstract]	'	'
Receivables Securitization Facility	160,000,000	0
Unsecured Syndicated Senior Credit Facility[Member]	'	'
Long-term debt [Abstract]	'	'
Revolving Credit Facility	$270,971,000	$300,426,000