Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements and Derivatives (Tables)

v3.19.1
Fair Value Measurements and Derivatives (Tables)
3 Months Ended
Mar. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of derivatives measured at fair value and discloses the balance sheet location

 

        Assets     Liabilities  
    Balance Sheet Location   March 31,
2019
    December 31,
2018
    March 31,
2019
    December 31,
2018
 
Derivative Contracts Designated as Hedging Instruments                                    
                                     
Fuel contracts                                    
    Prepaid expenses and other assets   $ 22,652     $ 2,583     $ 3,579     $ 1  
    Other long-term assets     12,880       197       1,996       29  
    Accrued expenses and other liabilities     547       1,173       2,943       19,547  
    Other long-term liabilities     1,015       933       10,685       51,184  
Foreign currency contracts                                    
    Prepaid expenses and other assets     1,060       5,285             1,497  
    Other long-term assets           3,514              
    Accrued expenses and other liabilities     376       112       40,234       5,145  
    Other long-term liabilities           2,874       77,107       40,476  
Interest rate contracts                                    
    Prepaid expenses and other assets     459       519              
    Other long-term assets           27              
    Accrued expenses and other liabilities                 624        
    Other long-term liabilities                 553        
Total derivatives designated as hedging instruments       $ 38,989     $ 17,217     $ 137,721     $ 117,879  
                                     
Derivative Contracts Not Designated as Hedging Instruments                                    
                                     
Fuel contracts   Prepaid expenses and other assets   $ 3,700     $     $ 241     $  
                                     
Total derivatives not designated as hedging instruments       $ 3,700     $     $ 241     $  
Total derivatives       $ 42,689     $ 17,217     $ 137,962     $ 117,879  
Schedule of discloses the gross and net amounts recognized within assets and liabilities
March 31, 2019  

Gross 

Amounts

    Gross
Amounts
Offset
    Total Net
Amounts
   

Gross
Amounts 

Not Offset

    Net Amounts  
Assets   $ 40,751     $ (5,816 )   $ 34,935     $ (1,519 )   $ 33,416  
Liabilities     132,146       (1,938 )     130,208       (114,046 )     16,162  

 

December 31, 2018   Gross Amounts     Gross
Amounts
Offset
    Total Net
Amounts
    Gross
Amounts Not
Offset
    Net Amounts  
Assets   $ 12,125     $ (1,527 )   $ 10,598     $ (6,872 )   $ 3,726  
Liabilities     116,352       (5,092 )     111,260       (35,718 )     75,542  
Schedule of cash flow hedge accounting on accumulated other comprehensive income (loss)
Derivatives  

Amount of Gain (Loss)

Recognized in Other

Comprehensive Income

   

Location of Gain

(Loss) Reclassified

from Accumulated

Other Comprehensive

Income (Loss) into

Income

 

Amount of Gain (Loss) Reclassified
from Accumulated Other
Comprehensive

Income (Loss) into Income

 
   

Three Months
Ended

March 31, 2019

   

Three Months
Ended

March 31, 2018

       

Three Months
Ended

March 31, 2019

   

Three Months

Ended
March 31, 2018

 
Fuel contracts   $ 96,508     $ (6,012 )   Fuel   $ 7,518     $ 3,525  
Foreign currency contracts     (80,278 )     54,493     Depreciation and amortization     (703 )     (1,159 )
Interest rate contracts     (1,078 )     95     Interest expense, net     185       (581 )
Total gain (loss) recognized in other comprehensive income   $ 15,152     $ 48,576         $ 7,000     $ 1,785  
Schedule of cash flow hedge accounting on the consolidated financial statements of operations
    Three Months Ended March 31, 2019     Three Months Ended March 31, 2018  
    Fuel     Depreciation 
and 
Amortization
    Interest 
Expense, net
    Fuel     Depreciation 
and 
Amortization
    Interest 
Expense, net
 
Total amounts of income and expense line items presented in the consolidated statements of operations in which the effects of cash flow hedges are recorded   $ 98,253     $ 169,741     $ 73,503     $ 93,431     $ 131,244     $ 59,698  
                                                 
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income                                                
Fuel contracts     7,518                   3,525              
Foreign currency contracts           (703 )                 (1,159 )      
Interest rate contracts                 185                   (581 )