Fair Value Measurements and Derivatives (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| Schedule of derivatives measured at fair value and disclosed by balance sheet location |
| |
|
|
|
Asset |
|
|
Liability |
|
| |
|
Balance Sheet location |
|
June 30,
2017 |
|
|
December 31,
2016 |
|
|
June 30,
2017 |
|
|
December 31,
2016 |
|
| Fuel swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Prepaid expenses and other assets |
|
$ |
5,955 |
|
|
$ |
20,288 |
|
|
$ |
— |
|
|
$ |
— |
|
| |
|
Other long-term assets |
|
|
897 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
Accrued expenses and other liabilities |
|
|
1,056 |
|
|
|
— |
|
|
|
41,865 |
|
|
|
44,271 |
|
| |
|
Other long-term liabilities |
|
|
6,255 |
|
|
|
13,237 |
|
|
|
34,529 |
|
|
|
38,608 |
|
| Foreign currency forward contracts designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Prepaid expenses and other assets |
|
|
13,509 |
|
|
|
— |
|
|
|
144 |
|
|
|
— |
|
| |
|
Other long-term assets |
|
|
28,718 |
|
|
|
14 |
|
|
|
— |
|
|
|
— |
|
| |
|
Accrued expenses and other liabilities |
|
|
2,141 |
|
|
|
— |
|
|
|
4,665 |
|
|
|
61,788 |
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
88,920 |
|
| Interest rate swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
2,546 |
|
|
|
3,331 |
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,151 |
|
|
| Schedule of amounts recognized within assets and liabilities |
| June 30, 2017 |
|
Gross Amounts |
|
|
Gross
Amounts
Offset |
|
|
Total Net
Amounts |
|
|
Gross
Amounts Not
Offset |
|
|
Net Amounts |
|
| Assets |
|
$ |
49,079 |
|
|
$ |
(144 |
) |
|
$ |
48,935 |
|
|
$ |
(40,103 |
) |
|
$ |
8,832 |
|
| Liabilities |
|
|
83,605 |
|
|
|
(9,452 |
) |
|
|
74,153 |
|
|
|
(3,609 |
) |
|
|
70,544 |
|
| 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
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain (loss) recognized in other comprehensive income – effective portion |
|
$ |
(4,884 |
) |
|
$ |
85,808 |
|
|
$ |
(31,087 |
) |
|
$ |
76,302 |
|
| Loss recognized in other income (expense), net – ineffective portion |
|
|
(431 |
) |
|
|
(3,524 |
) |
|
|
(801 |
) |
|
|
(8,751 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into fuel expense |
|
|
8,584 |
|
|
|
20,440 |
|
|
|
16,587 |
|
|
|
51,577 |
|
|
| Fuel Swaps | 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, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Loss recognized in other income (expense), net |
|
$ |
— |
|
|
$ |
(92 |
) |
|
$ |
— |
|
|
$ |
(92 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into other income (expense), net |
|
|
— |
|
|
|
1,465 |
|
|
|
— |
|
|
|
2,994 |
|
|
| 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, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| 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, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain (loss) recognized in other comprehensive income – effective portion |
|
$ |
136,428 |
|
|
$ |
(79,900 |
) |
|
$ |
155,064 |
|
|
$ |
2,611 |
|
| Gain (loss) recognized in other income (expense), net – ineffective portion |
|
|
(16 |
) |
|
|
(2 |
) |
|
|
(66 |
) |
|
|
9 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
|
656 |
|
|
|
656 |
|
|
|
1,274 |
|
|
|
1,301 |
|
|
| 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, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Loss recognized in other income (expense), net |
|
$ |
— |
|
|
$ |
(6,133 |
) |
|
$ |
— |
|
|
$ |
(6,133 |
) |
|
| 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, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| 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, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain (loss) recognized in other income (expense), net |
|
$ |
— |
|
|
$ |
(3,313 |
) |
|
$ |
— |
|
|
$ |
10,312 |
|
|
| 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, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Gain (loss) recognized in other comprehensive income – effective portion |
|
$ |
(25 |
) |
|
$ |
(901 |
) |
|
$ |
259 |
|
|
$ |
(3,456 |
) |
| Gain recognized in other income (expense), net – ineffective portion |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into interest expense, net |
|
|
765 |
|
|
|
981 |
|
|
|
1.610 |
|
|
|
1,981 |
|
|