|
Fair Value Measurements and Derivatives (Tables)
|
3 Months Ended |
|
Mar. 31, 2015
|
| Derivatives measured at fair value and disclosed by balance sheet location |
| |
|
|
|
Asset |
|
|
Liability |
|
|
|
Balance Sheet location |
|
March 31,
2015 |
|
|
December 31,
2014 |
|
|
March 31,
2015 |
|
|
December 31,
2014 |
|
| Fuel swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
$ |
773 |
|
|
$ |
— |
|
|
$ |
97,282 |
|
|
$ |
111,304 |
|
| |
|
Other long-term liabilities |
|
|
223 |
|
|
|
190 |
|
|
|
69,874 |
|
|
|
77,250 |
|
| Foreign currency forward contracts designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
107,310 |
|
|
|
29,498 |
|
| |
|
|
|
Asset
|
|
|
Liability
|
|
|
|
Balance Sheet location |
|
March 31,
2015 |
|
|
December 31,
2014 |
|
|
March 31,
2015 |
|
|
December 31,
2014 |
|
| |
|
Other long-term liabilities |
|
|
168 |
|
|
|
— |
|
|
|
19,864 |
|
|
|
118 |
|
| Foreign currency collar not designated as a hedging instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
45,697 |
|
|
|
16,744 |
|
| Interest rate swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
6,693 |
|
|
|
5,736 |
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
4,858 |
|
|
|
3,104 |
|
| Interest rate swap not designated as a hedging instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,823 |
|
|
| Amounts recognized within assets and liabilities |
| March 31, 2015 |
|
Gross Amounts |
|
|
Gross
Amounts
Offset
|
|
|
Total Net
Amounts
|
|
|
Gross
Amounts Not
Offset
|
|
|
Net Amounts |
|
| Liabilities |
|
$ |
351,578 |
|
|
$ |
(1,164 |
) |
|
$ |
350,414 |
|
|
$ |
(164,558 |
) |
|
$ |
185,856 |
|
| December 31, 2014 |
|
Gross Amounts |
|
|
Gross
Amounts
Offset
|
|
|
Total Net
Amounts
|
|
|
Gross
Amounts Not
Offset
|
|
|
Net Amounts |
|
| Liabilities |
|
$ |
247,577 |
|
|
$ |
(190 |
) |
|
$ |
247,387 |
|
|
$ |
(59,023 |
) |
|
$ |
188,364 |
|
|
| Fuel Swaps |
|
| Effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive loss – effective portion |
|
$ |
(2,801 |
) |
|
$ |
(9,771 |
) |
| Loss recognized in other income (expense) – ineffective portion |
|
|
(6,051 |
) |
|
|
(416 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into fuel expense |
|
|
20,536 |
|
|
|
(705 |
) |
|
| Fuel Collars and Options |
|
| Effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
March 31,
|
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive loss – effective portion |
|
$ |
— |
|
|
$ |
(324 |
) |
| Gain recognized in other income (expense) – ineffective portion |
|
|
— |
|
|
|
108 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into fuel expense |
|
|
238 |
|
|
|
370 |
|
|
| Fuel Collars and Options | Not Designated as Hedging Instrument |
|
| Effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Gain recognized in other income (expense) |
|
$ |
— |
|
|
$ |
85 |
|
|
| Foreign Exchange Option |
|
| Effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive loss – effective portion |
|
$ |
— |
|
|
$ |
(1,157 |
) |
| Loss recognized in other income (expense) – ineffective portion |
|
|
— |
|
|
|
(241 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
|
330 |
|
|
|
279 |
|
|
| Foreign Exchange Forward |
|
| Effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive loss – effective portion |
|
$ |
(97,375 |
) |
|
$ |
(1,076 |
) |
| Loss recognized in other income (expense) – ineffective portion |
|
|
(15 |
) |
|
|
(1 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
|
(64 |
) |
|
|
(53 |
) |
|
| Foreign Currency Collar |
|
| Effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive loss – effective portion |
|
$ |
— |
|
|
$ |
(1,588 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
|
(91 |
) |
|
|
(60 |
) |
|
| Foreign Currency Collar | Not Designated as Hedging Instrument |
|
| Effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other income (expense) |
|
$ |
(28,953 |
) |
|
$ |
— |
|
| Interest Rate Swap |
|
| Effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive loss – effective portion |
|
$ |
(3,589 |
) |
|
$ |
(1,440 |
) |
| Loss recognized in other income (expense)– ineffective portion |
|
|
(7 |
) |
|
|
— |
|
| Amount reclassified from accumulated other comprehensive income (loss) into interest expense, net |
|
|
937 |
|
|
|
322 |
|
|
| Interest Rate Swap | Not Designated as Hedging Instrument |
|
| Effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
| Loss recognized in other income (expense) |
|
$ |
(2 |
) |
|
$ |
— |
|
|