Financial Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of realized and unrealized gains and losses recorded as nonoperating income (expense)

The following table reflects the amount of realized and unrealized gains and losses recorded as nonoperating income (expense) in the unaudited Consolidated Statements of Operations.

	Three months ended September 30,						Nine months ended September 30,
Fuel derivative contracts	2014			2013			2014			2013
	(in thousands)
Losses realized at settlement	$	(4,632	)	$	(3,790	)	$	(6,530	)	$	(11,226	)
Reversal of prior period unrealized amounts	56			4,278			(1,816		)	5,472
Unrealized gains (losses) that will settle in future periods	(23,316		)	2,048			(20,160		)	(5,177		)
Gains (losses) on fuel derivatives recorded as Nonoperating income (expense)	$	(27,892	)	$	2,536		$	(28,506	)	$	(10,931	)

Schedule of fair value of the asset and liability derivatives and net derivative position recorded

The following tables present the gross fair value of asset and liability derivatives that are designated as hedging instruments under ASC 815 and derivatives that are not designated as hedging instruments under ASC 815, as well as the net derivative positions and location of the asset and liability balances within the unaudited Consolidated Balance Sheets.

Derivative position as of September 30, 2014

	Balance Sheet Location	Notional Amount	Final Maturity Date	Gross fair value of assets		Gross fair value of (liabilities)			Net derivative position
		(in thousands)		(in thousands)
Derivatives designated as hedges
Interest rate derivative	Prepaid expenses and other	$59,000 U.S. dollars	April 2023	$	73	$	—		$	73
	Long-term prepayments and other (1)			379		—			379
Foreign currency derivatives	Prepaid expenses and other	7,218,469 Japanese Yen 52,209 Australian Dollars	September 2015	7,448		(14		)	7,434
	Long-term prepayments and other	3,384,130 Japanese Yen 9,707 Australian Dollars	August 2016	2,514		—			2,514
Derivatives not designated as hedges									0
Foreign currency derivatives	Prepaid expenses and other	9,415,313 Japanese Yen 48,981 Australian Dollars	September 2015	1,529		(104		)	1,425
	Long-term prepayments and other	3,910,000 Japanese Yen 9,700 Australian Dollars	August 2016	360		—			360
Fuel derivative contracts	Other accrued liabilities	93,211 gallons	September 2015	899		(19,569		)	(18,670		)
Negative arbitrage derivative	Other accrued liabilities	$444,540 U.S. dollars	January 2015	—		(500		)	(500		)

(1) Represents the noncurrent portion of the $59.0 million interest rate derivative with final maturity in April 2023.

Derivative position as of December 31, 2013

	Balance Sheet  Location	Notional Amount	Final Maturity Date	Gross fair value of assets		Gross fair value of (liabilities)			Net derivative position
		(in thousands)		(in thousands)
Derivatives designated as hedges
Interest rate derivative	Prepaid expenses and other	$63,800 U.S. dollars	April 2023	$	196	$	—		$	196
	Long-term prepayments and other (1)			925		—			925
Foreign currency derivatives	Prepaid expenses and other	10,500,321 Japanese Yen 10,895,370 Korean Won 62,659 Australian Dollars 4,821 New Zealand Dollars	December  2014	9,946		(450		)	9,496
	Long-term prepayments and other	1,980,949 Japanese Yen 16,681 Australian Dollars	May 2015	1,673		—			1,673
Derivatives not designated as hedges
Foreign currency derivatives	Prepaid expenses and other	6,180 Japanese Yen 58 Australian Dollars	December  2014	577		(229		)	348
	Other accrued liabilities			298		(509		)	(211		)
Fuel derivative contracts	Prepaid expenses and other	84,714 gallons	December  2014	13,587		(7,494		)	6,093
Negative arbitrage derivative	Other accrued liabilities	$444,540 U.S. dollars	January  2015	—		(12,250		)	(12,250		)
	Other liabilities and deferred credits (2)			—		(615		)	(615		)

(1) Represents the noncurrent portion of the $64 million interest rate derivative with final maturity in April 2023.

(2) Represents the noncurrent portion of the $445 million negative arbitrage derivative with final maturity in January 2015.

Schedule of realized and unrealized gains and losses of derivatives designated as cash flow hedges

The following table reflects the impact of cash flow hedges designated for hedge accounting treatment and their location within the unaudited Consolidated Statements of Comprehensive Income. 

	(Gain) loss recognized in AOCI on derivatives (effective portion)					(Gain) loss reclassified from AOCI into income (effective portion)						(Gain) loss recognized in nonoperating (income) expense (ineffective portion)
	Three months ended September 30,					Three months ended September 30,						Three months ended September 30,
	2014			2013		2014			2013			2014		2013
	(in thousands)
Foreign currency derivatives	$	(12,428	)	$	3,960	$	(1,297	)	$	(3,005	)	$	—	$	—
Interest rate derivatives	(283		)	82		201			217			—		—

	(Gain) loss recognized in AOCI on derivatives (effective portion)						(Gain) loss reclassified from AOCI into income (effective portion)						(Gain) loss recognized in nonoperating (income) expense (ineffective portion)
	Nine months ended September 30,						Nine months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013			2014		2013
	(in thousands)
Foreign currency derivatives	$	(4,720	)	$	(10,204	)	$	(6,523	)	$	(6,395	)	$	—	$	(61	)
Interest rate derivatives	668			(929		)	618			440			—		—