Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements and Derivatives (Tables)

v3.2.0.727
Fair Value Measurements and Derivatives (Tables)
6 Months Ended
Jun. 30, 2015
Schedule of derivatives measured at fair value and disclosed by balance sheet location
        Asset     Liability  
  Balance Sheet location   June 30,
2015
    December 31,
2014
    June 30,
2015
    December 31,
2014
 
Fuel swaps designated as hedging instruments                                    
    Accrued expenses and other liabilities   $ 1,744     $     $ 52,407     $ 111,304  
    Other long-term liabilities     1,075       190       44,419       77,250  
Fuel swaps not designated as hedging instruments                                    
    Accrued expenses and other liabilities           18,319      
Foreign currency forward contracts designated as hedging instruments                                    
    Prepaid expenses and other assets     3,077                    
    Other long-term assets     1,730                    
    Accrued expenses and other liabilities                 84,588       29,498  
    Other long-term liabilities                 11,330       118  
Foreign currency forward contracts not designated as hedging instruments                                    
    Prepaid expenses and other assets     99                    
Foreign currency collar not designated as a hedging instrument                                    
    Other long-term liabilities                 36,347       16,744  
Interest rate swaps designated as hedging instruments                                    
    Accrued expenses and other liabilities                 6,100       5,736  
    Other long-term liabilities                 4,114       3,104  
Interest rate swap not designated as a hedging instrument                                    
    Accrued expenses and other liabilities                       3,823  
Schedule of amounts recognized within assets and liabilities
June 30, 2015   Gross Amounts      Gross
Amounts
Offset
    Total Net
Amounts
    Gross
Amounts Not
Offset
    Net Amounts  
Assets   $ 4,906     $     $ 4,906     $ (4,906)     $  
Liabilities     257,624       (2,819 )     254,805       (142,479 )     112,326  

 

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  
Schedule of effects of derivatives dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Amount reclassified from accumulated other comprehensive income (loss) into other income (expense)   $ 10,000     $     $ 10,000     $  
Fuel Swaps | Designated as Hedging Instrument  
Schedule of effects of derivatives designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Gain recognized in other comprehensive income (loss) – effective portion   $ 34,133     $ 11,610     $ 31,332     $ 1,839  
Gain (loss) recognized in other income (expense) – ineffective portion     (3,194 )     451       (9,245 )     35  
Amount reclassified from accumulated other comprehensive income (loss) into fuel expense     15,297       (1,218 )     35,833       (1,923 )
Fuel Collars and Options | Designated as Hedging Instrument  
Schedule of effects of derivatives designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Gain (loss) recognized in other comprehensive income (loss) – effective portion   $     $ 15     $     $ (309 )
Gain (loss) recognized in other income (expense) – ineffective portion           (1 )           107  
Amount reclassified from accumulated other comprehensive income (loss) into fuel expense     10       371       248       741  
Fuel Options | Not Designated as Hedging Instrument  
Schedule of effects of derivatives not designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Gain recognized in other income (expense)   $     $ 101     $     $ 186  
Foreign Exchange Option | Designated as Hedging Instrument  
Schedule of effects of derivatives designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Loss recognized in other comprehensive income (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       329       660       608  
Foreign Exchange Forward | Designated as Hedging Instrument  
Schedule of effects of derivatives designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Gain (loss) recognized in other comprehensive income (loss) – effective portion   $ 36,928     $ 88     $ (60,447 )   $ (988 )
Gain (loss) recognized in other income (expense) – ineffective portion     8             (7 )     (1 )
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense     (63 )     (64 )     (127 )     (117 )
Foreign Exchange Forward | Not Designated as Hedging Instrument  
Schedule of effects of derivatives not designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Gain recognized in other income (expense)   $ 99     $     $ 99     $  
Foreign Currency Collar | Designated as Hedging Instrument  
Schedule of effects of derivatives designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Loss recognized in other comprehensive income (loss) – effective portion   $     $     $     $ (1,588 )
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense     (91 )     (91 )     (182 )     (151 )
Foreign Currency Collar | Not Designated as Hedging Instrument  
Schedule of effects of derivatives not designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Gain (loss) recognized in other income (expense)   $ 9,350     $     $ (19,603 )   $  
Interest Rate Swap | Designated as Hedging Instrument  
Schedule of effects of derivatives designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Loss recognized in other comprehensive income (loss) – effective portion   $ (570 )   $ (2,916 )   $ (4,159 )   $ (4,356 )
Loss recognized in other income (expense) – ineffective portion     (5 )           (12 )      
Amount reclassified from accumulated other comprehensive income (loss) into interest expense, net     1,081       526       2,018       848  
Interest Rate Swap | Not Designated as Hedging Instrument  
Schedule of effects of derivatives not designated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2015     2014     2015     2014  
Loss recognized in other income (expense)   $     $     $ (2 )   $