Fair Value Measurements and Derivatives (Tables)
|
9 Months Ended |
Sep. 30, 2015 |
|---|
| Schedule of derivatives measured at fair value and disclosed by balance sheet location |
|
|
|
|
Asset |
|
|
Liability |
|
|
|
Balance Sheet location |
|
September 30,
2015 |
|
|
December 31,
2014 |
|
|
September 30,
2015 |
|
|
December 31,
2014 |
|
| Fuel swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
$ |
2,610 |
|
|
$ |
— |
|
|
$ |
101,328 |
|
|
$ |
111,304 |
|
| |
|
Other long-term liabilities |
|
|
4,953 |
|
|
|
190 |
|
|
|
88,516 |
|
|
|
77,250 |
|
| Fuel swaps not designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
10,215 |
|
|
|
— |
|
| Foreign currency forward contracts designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Prepaid expenses and other assets |
|
|
988 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
Other long-term assets |
|
|
1,538 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
84,316 |
|
|
|
29,498 |
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
11,933 |
|
|
|
118 |
|
| Foreign currency collar not designated as a hedging instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
35,392 |
|
|
|
16,744 |
|
| Interest rate swaps designated as hedging instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Accrued expenses and other liabilities |
|
|
— |
|
|
|
— |
|
|
|
5,626 |
|
|
|
5,736 |
|
| |
|
Other long-term liabilities |
|
|
— |
|
|
|
— |
|
|
|
5,397 |
|
|
|
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 |
| September 30, 2015 |
|
Gross Amounts |
|
|
Gross
Amounts
Offset |
|
|
Total Net
Amounts |
|
|
Gross
Amounts Not
Offset |
|
|
Net Amounts |
|
| Assets |
|
$ |
2,526 |
|
|
$ |
— |
|
|
$ |
2,526 |
|
|
$ |
(2,526 |
) |
|
$ |
— |
|
| Liabilities |
|
|
342,723 |
|
|
|
(7,563 |
) |
|
|
335,160 |
|
|
|
(142,664 |
) |
|
|
192,496 |
|
| 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
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into other income (expense) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,000 |
|
|
$ |
— |
|
| Loss recognized in other income (expense) |
|
|
(4,716 |
) |
|
|
— |
|
|
|
(4,716 |
) |
|
|
— |
|
|
| Fuel Swaps | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive income (loss) – effective portion |
|
$ |
(101,056 |
) |
|
$ |
(27,777 |
) |
|
$ |
(69,724 |
) |
|
$ |
(25,938 |
) |
| Loss recognized in other income (expense) – ineffective portion |
|
|
(1,580 |
) |
|
|
(51 |
) |
|
|
(10,825 |
) |
|
|
(16 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into fuel expense |
|
|
11,670 |
|
|
|
578 |
|
|
|
47,503 |
|
|
|
(1,345 |
) |
|
| Fuel Collars | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive income (loss) – effective portion |
|
$ |
— |
|
|
$ |
(127 |
) |
|
$ |
— |
|
|
$ |
(436 |
) |
| Gain recognized in other income (expense) – ineffective portion |
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
|
111 |
|
| Amount reclassified from accumulated other comprehensive income (loss) into fuel expense |
|
|
— |
|
|
|
370 |
|
|
|
248 |
|
|
|
1,111 |
|
|
| Fuel Options | Not Designated as Hedging Instrument |
|
| Schedule of effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Gain (loss) recognized in other income (expense) |
|
$ |
— |
|
|
$ |
(59 |
) |
|
$ |
— |
|
|
$ |
127 |
|
|
| Foreign Currency Options | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 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 |
|
|
|
330 |
|
|
|
990 |
|
|
|
938 |
|
|
| Foreign Currency Forward Contracts | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Loss recognized in other comprehensive income (loss) – effective portion |
|
$ |
(1,519 |
) |
|
$ |
(11,199 |
) |
|
$ |
(61,966 |
) |
|
$ |
(12,187 |
) |
| Loss recognized in other income (expense) – ineffective portion |
|
|
(3 |
) |
|
|
— |
|
|
|
(10 |
) |
|
|
(1 |
) |
| Amount reclassified from accumulated other comprehensive income (loss) into depreciation and amortization expense |
|
|
(64 |
) |
|
|
(63 |
) |
|
|
(191 |
) |
|
|
(180 |
) |
|
| Foreign Currency Forward Contracts | Not Designated as Hedging Instrument |
|
| Schedule of effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Gain recognized in other income (expense) |
|
$ |
585 |
|
|
$ |
— |
|
|
$ |
684 |
|
|
$ |
— |
|
|
| Foreign Currency Collar | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 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 |
) |
|
|
(273 |
) |
|
|
(242 |
) |
|
| Foreign Currency Collar | Not Designated as Hedging Instrument |
|
| Schedule of effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Gain (loss) recognized in other income (expense) |
|
$ |
955 |
|
|
$ |
— |
|
|
$ |
(18,648 |
) |
|
$ |
— |
|
|
| Interest Rate Swap | Designated as Hedging Instrument |
|
| Schedule of effects of derivatives designated as cash flow hedges |
| |
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Gain (loss) recognized in other comprehensive income (loss) – effective portion |
|
$ |
(2,652 |
) |
|
$ |
1,302 |
|
|
$ |
(6,811 |
) |
|
$ |
(3,054 |
) |
| Loss recognized in other income (expense) – ineffective portion |
|
|
(9 |
) |
|
|
— |
|
|
|
(21 |
) |
|
|
— |
|
| Amount reclassified from accumulated other comprehensive income (loss) into interest expense, net |
|
|
1,287 |
|
|
|
695 |
|
|
|
3,305 |
|
|
|
1,543 |
|
|
| Interest Rate Swap | Not Designated as Hedging Instrument |
|
| Schedule of effects of derivatives not designated as cash flow hedges |
| |
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
| |
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
| Loss recognized in other income (expense) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(2 |
) |
|
$ |
— |
|
|