Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements and Derivatives (Tables)

v3.8.0.1
Fair Value Measurements and Derivatives (Tables)
12 Months Ended
Dec. 31, 2017
Schedule of derivatives measured at fair value
        Asset     Liability  
    Balance Sheet location   December 31,
2017
    December 31,
2016
    December 31,
2017
    December 31,
2016
 
Fuel swaps designated as hedging instruments                          
    Prepaid expenses and other assets   $ 19,220     $ 20,288     $ 2,406     $  
                                     
    Other long-term assets     19,854             3,469        
                                     
    Accrued expenses and other liabilities                 3,348       44,271  
                                     
    Other long-term liabilities     576       13,237       2,148       38,608  
Foreign currency forward contracts designated as hedging instruments                                    
    Prepaid expenses and other assets     52,300             730        
                                     
     Other long-term assets     85,081       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                 1,020       3,331  
                                     
    Other long-term liabilities                       1,151  
Schedule of gross and net amounts recognized within assets and liabilities
December 31, 2017   Gross Amounts     Gross
Amounts
Offset
    Total Net
Amounts
    Gross
Amounts Not
Offset
    Net Amounts  
                                         
Assets   $ 176,455     $ (6,605 )   $ 169,850     $ (127,924 )   $ 41,926  
Liabilities     6,516       (576 )     5,940       (1,020 )     4,920  

 

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  
Schedule of effects on consolidated financial statements of fuel swaps designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Gain (loss) recognized in other comprehensive income (loss) – effective portion   $ 50,263     $ 127,470     $ (173,513 )
Loss recognized in other income (expense), net – ineffective portion     (317 )     (12,850 )     (16,011 )
Amount reclassified from accumulated other comprehensive income (loss) into fuel expense     29,721       85,448       75,808  
Schedule of effects of derivatives not designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Amount reclassified from accumulated other comprehensive income (loss) into other income (expense), net   $     $ 2,994     $ 10,000  
Loss recognized in other income (expense), net           (271 )     (4,727 )
Foreign currency forward contracts  
Schedule of effects on consolidated financial statements of fuel swaps designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Gain (loss) recognized in other comprehensive income (loss) – effective portion   $ 254,070     $ (124,058 )   $ (84,187 )
Loss recognized in other income (expense), net – ineffective portion     (73 )     (270 )     (343 )
Amount reclassified from accumulated comprehensive income (loss) into depreciation and amortization expense     3,121       2,625       116  
Schedule of effects of derivatives not designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Gain (loss) recognized in other income (expense), net   $     $ (6,133 )   $ 684  
Foreign currency collar  
Schedule of effects on consolidated financial statements of fuel swaps designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Amount reclassified from accumulated comprehensive income (loss) into depreciation and amortization expense   $ (364 )   $ (364 )   $ (364 )
Schedule of effects of derivatives not designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Gain (loss) recognized in other income (expense), net   $     $ 10,312     $ (26,249 )
Interest rates swaps  
Schedule of effects on consolidated financial statements of fuel swaps designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Gain (loss) recognized in other comprehensive income (loss) – effective portion   $ 351     $ (1,701 )   $ (5,152 )
Gain (loss) recognized in other income (expense), net – ineffective portion           3       (23 )
Amount reclassified from other comprehensive income (loss) into interest expense, net     2,997       3,946       4,614  
Designated as Hedging Instrument | Foreign currency options  
Schedule of effects on consolidated financial statements of fuel swaps designated as cash flow hedges
    Year Ended December 31,  
    2017     2016     2015  
Amount reclassified from accumulated comprehensive income (loss) into depreciation and amortization expense   $ 1,320     $ 1,320     $ 1,320