Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements and Derivatives (Tables)

v3.5.0.2
Fair Value Measurements and Derivatives (Tables)
6 Months Ended
Jun. 30, 2016
Schedule of derivatives measured at fair value and disclosed by balance sheet location
        Asset     Liability  
    Balance Sheet location   June 30,
2016
    December 31,
2015
    June 30,
2016
    December 31,
2015
 
Fuel swaps designated as hedging instruments                                    
    Prepaid expenses and other assets   $ 15,972     $     $     $  
    Other long-term assets     7,084                    
    Accrued expenses and other liabilities                 82,672       128,740  
    Other long-term liabilities     7,340             79,646       132,494  
Fuel swaps not designated as hedging instruments                                    
    Accrued expenses and other liabilities                 1,801        
Foreign currency forward contracts designated as hedging instruments                                    
    Prepaid expenses and other assets     6,135             3,414        
    Other long-term assets     2,577       3,446       386       1,370  
    Accrued expenses and other liabilities     731             13,514       8,737  
    Other long-term liabilities     1,814       551                         20,165       24,181  
Foreign currency collar not designated as a hedging instrument                                    
    Accrued expenses and other liabilities                       42,993  
Interest rate swaps designated as hedging instruments                                    
    Accrued expenses and other liabilities                 4,328       4,079  
    Other long-term liabilities                 3,973       3,395  
Schedule of amounts recognized within assets and liabilities
June 30, 2016   Gross Amounts     Gross
Amounts
Offset
    Total Net
Amounts
    Gross
Amounts Not
Offset
    Net Amounts  
Assets   $ 31,768     $ (3,800 )   $ 27,968     $ (2,715 )   $ 25,253  
Liabilities     206,099       (9,885 )     196,214       (30,707 )     165,507  

 

December 31, 2015   Gross Amounts     Gross
Amounts
Offset
    Total Net
Amounts
    Gross
Amounts Not
Offset
    Net Amounts  
Assets   $ 3,446     $ (1,370 )   $ 2,076     $ (2,043 )   $ 33  
Liabilities     344,619       (551 )     344,068       (336,645 )     7,423  
Fuel Swaps  
Schedule of effects of derivatives designated and dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2016     2015     2016     2015  
Gain recognized in other comprehensive income  – effective portion   $ 85,808     $ 34,133     $ 76,302     $ 31,332  
Loss recognized in other expense – ineffective portion     (3,524 )     (3,194 )     (8,751 )     (9,245 )
Amount reclassified from accumulated other comprehensive income (loss) into fuel expense     20,440       15,297       51,577       35,833  
Fuel Swaps | Designated as Hedging Instrument  
Schedule of effects of derivatives designated and dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2016     2015     2016     2015  
Loss recognized in other expense   $ (92 )   $     $ (92 )   $  
Amount reclassified from accumulated other comprehensive income (loss) into other expense     1,465       10,000       2,994       10,000  
Fuel Collars | Designated as Hedging Instrument  
Schedule of effects of derivatives designated and dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2016     2015     2016     2015  
Amount reclassified from accumulated other comprehensive income (loss) into fuel expense   $     $ 10     $     $ 248  
Foreign Currency Options | Designated as Hedging Instrument  
Schedule of effects of derivatives designated and dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2016     2015     2016     2015  
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense   $ 330     $ 330     $ 660     $ 660  
Foreign Currency Forward Contracts | Designated as Hedging Instrument  
Schedule of effects of derivatives designated and dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2016     2015     2016     2015  
Gain (loss) recognized in other comprehensive income – effective portion   $ (79,900 )   $ 36,928     $ 2,611     $ (60,447 )
Gain (loss) recognized in other expense – ineffective portion     (2 )     8       9       (7 )
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense     656       (63 )     1,301       (127 )
Foreign Currency Forward Contracts | 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,
 
    2016     2015     2016     2015  
Gain (loss) recognized in other expense   $ (6,133 )   $ 99     $ (6,133 )   $ 99  
Foreign Currency Collar | Designated as Hedging Instrument  
Schedule of effects of derivatives designated and dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2016     2015     2016     2015  
Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense   $ (91 )   $ (91 )   $ (182 )   $ (182 )
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,
 
    2016     2015     2016     2015  
Gain (loss) recognized in other expense   $ (3,313 )   $ 9,350     $ 10,312     $ (19,603 )
Interest Rate Swap | Designated as Hedging Instrument  
Schedule of effects of derivatives designated and dedesignated as cash flow hedges
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2016     2015     2016     2015  
Loss recognized in other comprehensive income – effective portion   $ (901 )   $ (570 )   $ (3,456 )   $ (4,159 )
Gain (loss) recognized in other expense – ineffective portion           (5 )     3       (12 )
Amount reclassified from accumulated other comprehensive income (loss) into interest expense, net     981       1,081       1,981       2,018  
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,
 
    2016     2015     2016     2015  
Loss recognized in other expense   $     $     $     $ (2 )