Fair Value Measurements and Derivatives (Tables)
|
9 Months Ended |
Sep. 30, 2017 |
|---|
| Schedule of derivatives measured at fair value and disclosed by balance sheet location |
| |
|
|
|
Asset |
|
|
Liability |
|
| |
|
Balance Sheet location |
|
September 30,
2017 |
|
|
December 31,
2016 |
|
|
September 30,
2017 |
|
|
December 31,
2016 |
|
| Fuel swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Prepaid expenses and other assets |
|
$ |
5,796 |
|
|
$ |
20,288 |
|
|
$ |
— |
|
|
$ |
— |
|
| |
|
Other long-term assets |
|
|
4,636 |
|
|
|
— |
|
|
|
1,903 |
|
|
|
— |
|
| |
|
Accrued expenses and other liabilities |
|
|
4,237 |
|
|
|
— |
|
|
|
26,069 |
|
|
|
44,271 |
|
| |
|
Other long-term liabilities |
|
|
7,724 |
|
|
|
13,237 |
|
|
|
17,578 |
|
|
|
38,608 |
|
| Foreign currency forward contracts designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Prepaid expenses and other assets |
|
|
41,983 |
|
|
|
— |
|
|
|
1,354 |
|
|
|
— |
|
| |
|
Other long-term assets |
|
|
65,780 |
|
|
|
14 |
|
|
|
— |
|
|
|
— |
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
61,788 |
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
88,920 |
|
| Interest rate swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
1,876 |
|
|
|
3,331 |
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,151 |
|
|
| Schedule of amounts recognized within assets and liabilities |
| September 30, 2017 |
|
Gross Amounts |
|
|
Gross
Amounts
Offset |
|
|
Total Net
Amounts |
|
|
Gross
Amounts Not
Offset |
|
|
Net Amounts |
|
| Assets |
|
$ |
118,195 |
|
|
$ |
(3,257 |
) |
|
$ |
114,938 |
|
|
$ |
(100,582 |
) |
|
$ |
14,356 |
|
| Liabilities |
|
|
45,523 |
|
|
|
(11,961 |
) |
|
|
33,562 |
|
|
|
(1,876 |
) |
|
|
31,686 |
|
| December 31, 2016 |
|
Gross Amounts |
|
|
Gross
Amounts
Offset |
|
|
Total Net
Amounts |
|
|
Gross
Amounts Not
Offset |
|
|
Net Amounts |
|
| Assets |
|
$ |
20,302 |
|
|
$ |
— |
|
|
$ |
20,302 |
|
|
$ |
(14 |
) |
|
$ |
20,288 |
|
| Liabilities |
|
|
238,069 |
|
|
|
(13,237 |
) |
|
|
224,832 |
|
|
|
(155,190 |
) |
|
|
69,642 |
|
|
| Fuel Swaps | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated and dedesignated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain (loss) recognized in other comprehensive income – effective portion |
|
$ |
30,452 |
|
|
$ |
(157 |
) |
|
$ |
(635 |
) |
|
$ |
76,145 |
|
| Gain (loss) recognized in other income (expense), net – ineffective portion |
|
|
496 |
|
|
|
(2,602 |
) |
|
|
(305 |
) |
|
|
(11,353 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into fuel expense |
|
|
9,795 |
|
|
|
16,427 |
|
|
|
26,382 |
|
|
|
68,004 |
|
|
| Fuel Swaps | Not Designated as Hedging Instrument |
|
| Schedule of effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Loss recognized in other income (expense), net |
|
$ |
— |
|
|
$ |
(179 |
) |
|
$ |
— |
|
|
$ |
(271 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into other income (expense), net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,994 |
|
|
| Foreign Currency Options | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated and dedesignated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
$ |
330 |
|
|
$ |
330 |
|
|
$ |
990 |
|
|
$ |
990 |
|
|
| Foreign Currency Forward Contracts | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated and dedesignated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain recognized in other comprehensive income – effective portion |
|
$ |
66,849 |
|
|
$ |
36,390 |
|
|
$ |
221,913 |
|
|
$ |
39,001 |
|
| Loss recognized in other income (expense), net – ineffective portion |
|
|
— |
|
|
|
(190 |
) |
|
|
(66 |
) |
|
|
(181 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
|
918 |
|
|
|
665 |
|
|
|
2,192 |
|
|
|
1,966 |
|
|
| Foreign Currency Forward Contracts | Not Designated as Hedging Instrument |
|
| Schedule of effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Loss recognized in other income (expense), net |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(6,133 |
) |
|
| Foreign Currency Collar | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated and dedesignated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
$ |
(91 |
) |
|
$ |
(91 |
) |
|
$ |
(273 |
) |
|
$ |
(273 |
) |
|
| Foreign Currency Collar | Not Designated as Hedging Instrument |
|
| Schedule of effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain recognized in other income (expense), net |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,312 |
|
|
| Interest Rate Swap | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated and dedesignated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain (loss) recognized in other comprehensive income – effective portion |
|
$ |
(25 |
) |
|
$ |
818 |
|
|
$ |
234 |
|
|
$ |
(2,638 |
) |
| Gain recognized in other income (expense), net – ineffective portion |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into interest expense, net |
|
|
691 |
|
|
|
996 |
|
|
|
2,301 |
|
|
|
2,977 |
|
|