Fair Value Measurements and Derivatives (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Derivative Instruments And Hedging Activities Disclosure [Abstract] |
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| Schedule of derivatives measured at fair value and disclosed by balance sheet location |
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Assets |
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Liabilities |
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September 30, |
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December 31, |
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September 30, |
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December 31, |
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Balance Sheet Location |
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2019 |
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2018 |
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2019 |
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2018 |
Derivative Contracts Designated as Hedging Instruments |
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Fuel contracts |
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Prepaid expenses and other assets |
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$ |
50 |
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$ |
2,583 |
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$ |
346 |
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$ |
1 |
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Other long-term assets |
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53 |
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197 |
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— |
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29 |
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Accrued expenses and other liabilities |
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17 |
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1,173 |
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35,439 |
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19,547 |
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Other long-term liabilities |
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261 |
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933 |
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36,233 |
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51,184 |
Foreign currency contracts |
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Prepaid expenses and other assets |
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— |
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5,285 |
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— |
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1,497 |
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Other long-term assets |
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— |
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3,514 |
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— |
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— |
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Accrued expenses and other liabilities |
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— |
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112 |
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97,524 |
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5,145 |
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Other long-term liabilities |
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— |
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2,874 |
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156,339 |
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40,476 |
Interest rate contracts |
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Prepaid expenses and other assets |
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— |
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519 |
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— |
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— |
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Other long-term assets |
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— |
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27 |
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— |
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— |
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Accrued expenses and other liabilities |
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— |
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— |
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2,984 |
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— |
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Other long-term liabilities |
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— |
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— |
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3,284 |
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— |
Total derivatives designated as hedging instruments |
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$ |
381 |
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$ |
17,217 |
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$ |
332,149 |
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$ |
117,879 |
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Derivative Contracts Not Designated as Hedging Instruments |
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Fuel contracts |
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Prepaid expenses and other assets |
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$ |
667 |
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$ |
— |
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$ |
— |
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$ |
— |
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Accrued expenses and other liabilities |
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495 |
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— |
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— |
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— |
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Total derivatives not designated as hedging instruments |
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$ |
1,162 |
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$ |
— |
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$ |
— |
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$ |
— |
Total derivatives |
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$ |
1,543 |
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$ |
17,217 |
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$ |
332,149 |
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$ |
117,879 |
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| Schedule of gross and net amounts recognized within assets and liabilities |
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Gross |
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Gross |
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Gross |
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Amounts |
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Total Net |
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Amounts |
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September 30, 2019 |
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Amounts |
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Offset |
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Amounts |
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Not Offset |
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Net Amounts |
Assets |
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$ |
770 |
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$ |
(346) |
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$ |
424 |
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$ |
— |
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$ |
424 |
Liabilities |
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331,803 |
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(773) |
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331,030 |
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(260,131) |
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70,899 |
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Gross |
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Gross |
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Gross |
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Amounts |
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Total Net |
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Amounts |
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December 31, 2018 |
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Amounts |
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Offset |
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Amounts |
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Not Offset |
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Net Amounts |
Assets |
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$ |
12,125 |
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$ |
(1,527) |
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$ |
10,598 |
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$ |
(6,872) |
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$ |
3,726 |
Liabilities |
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116,352 |
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(5,092) |
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111,260 |
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(35,718) |
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75,542 |
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| Schedule of cash flow hedge accounting on accumulated other comprehensive income (loss) |
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Location of Gain |
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(Loss) Reclassified |
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from Accumulated |
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Amount of Gain (Loss) Reclassified |
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Amount of Gain (Loss) |
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Other Comprehensive |
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from Accumulated Other |
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Recognized in Other |
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Income (Loss) into |
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Comprehensive |
Derivatives |
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Comprehensive Income |
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Income |
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Income (Loss) into Income |
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Three Months |
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Three Months |
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Three Months |
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Three Months |
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Ended |
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Ended |
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Ended |
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Ended |
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September 30, 2019 |
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September 30, 2018 |
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September 30, 2019 |
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September 30, 2018 |
Fuel contracts |
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$ |
(65,726) |
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$ |
24,439 |
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Fuel |
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$ |
1,657 |
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$ |
11,595 |
Foreign currency contracts |
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(142,627) |
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(10,062) |
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Depreciation and amortization |
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(703) |
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(703) |
Interest rate contracts |
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(1,158) |
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988 |
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Interest expense, net |
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(506) |
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(186) |
Total gain (loss) recognized in other comprehensive income |
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$ |
(209,511) |
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$ |
15,365 |
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$ |
448 |
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$ |
10,706 |
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Location of Gain |
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(Loss) Reclassified |
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from Accumulated |
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Amount of Gain (Loss) Reclassified |
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Amount of Gain (Loss) |
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Other Comprehensive |
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from Accumulated Other |
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Recognized in Other |
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Income (Loss) into |
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Comprehensive |
Derivatives |
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Comprehensive Income |
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Income |
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Income (Loss) into Income |
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Nine Months |
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Nine Months |
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Nine Months |
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Nine Months |
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Ended |
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Ended |
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Ended |
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Ended |
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September 30, 2019 |
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September 30, 2018 |
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September 30, 2019 |
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September 30, 2018 |
Fuel contracts |
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$ |
14,205 |
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$ |
88,935 |
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Fuel |
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$ |
19,060 |
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$ |
23,024 |
Foreign currency contracts |
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(218,724) |
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(43,951) |
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Depreciation and amortization |
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(2,108) |
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(2,761) |
Interest rate contracts |
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(7,029) |
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3,063 |
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Interest expense, net |
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(230) |
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(1,049) |
Total gain (loss) recognized in other comprehensive income |
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$ |
(211,548) |
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$ |
48,047 |
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$ |
16,722 |
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$ |
19,214 |
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| Schedule of cash flow hedge accounting on the consolidated financial statements of operations |
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Three Months Ended September 30, 2019 |
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Three Months Ended September 30, 2018 |
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Depreciation |
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Depreciation |
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and |
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Interest |
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and |
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Interest |
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Fuel |
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Amortization |
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Expense, net |
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Fuel |
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Amortization |
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Expense, net |
Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded |
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$ |
98,943 |
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$ |
156,215 |
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$ |
60,188 |
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$ |
99,643 |
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$ |
143,700 |
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$ |
69,540 |
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Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income |
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Fuel contracts |
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1,657 |
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— |
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— |
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11,595 |
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— |
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— |
Foreign currency contracts |
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— |
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(703) |
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— |
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— |
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(703) |
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— |
Interest rate contracts |
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— |
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— |
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(506) |
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— |
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— |
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(186) |
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Nine Months Ended September 30, 2019 |
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Nine Months Ended September 30, 2018 |
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Depreciation |
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Depreciation |
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and |
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Interest |
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and |
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Interest |
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Fuel |
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Amortization |
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Expense, net |
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Fuel |
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Amortization |
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Expense, net |
Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded |
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$ |
297,727 |
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$ |
482,227 |
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$ |
199,660 |
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$ |
288,286 |
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$ |
415,648 |
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$ |
202,226 |
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Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income |
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Fuel contracts |
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19,060 |
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— |
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— |
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23,024 |
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— |
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— |
Foreign currency contracts |
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— |
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(2,108) |
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— |
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— |
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(2,761) |
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— |
Interest rate contracts |
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— |
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— |
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(230) |
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— |
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— |
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(1,049) |
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