Financial Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2015

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 June 30,						Six months ended June 30,
Fuel derivative contracts	2015			2014			2015			2014
	(in thousands)
Losses realized at settlement	$	(16,553	)	$	(2,009	)	$	(31,144	)	$	(1,899	)
Reversal of prior period unrealized amounts	16,327			2,625			29,313			(1,613		)
Unrealized gains (losses) that will settle in future periods	2,252			5,669			(1,830		)	2,898
Gains (losses) on fuel derivatives recorded as Nonoperating income (expense)	$	2,026		$	6,285		$	(3,661	)	$	(614	)

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 June 30, 2015

	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	Other accrued liabilities	$54,200 U.S. dollars	April 2023	$	—	$	(14	)	$	(14	)
	Other liabilities and deferred credits (1)			—		(54		)	(54		)
Foreign currency derivatives	Prepaid expenses and other	7,629,030 Japanese Yen 38,901 Australian Dollars	June 2016	11,542		(76		)	11,466
	Long-term prepayments and other	3,753,650 Japanese Yen 7,075 Australian Dollars	May 2017	2,112		(57		)	2,055
Derivatives not designated as hedges									0
Foreign currency derivatives	Prepaid expenses and other	4,367,750 Japanese Yen 16,945 Australian Dollars	June 2016	41		(19		)	22
	Long-term prepayments and other	957,000 Japanese Yen 118 Australian Dollars	August 2016	4		—			4
Fuel derivative contracts	Prepaid expenses and other	14,414 gallons	May 2016	1,082		(513		)	569
	Other accrued liabilities	67,953 gallons	June 2016	6,925		(19,226		)	(12,301		)

(1) Represents the noncurrent portion of the $54.2 million interest rate derivative with final maturity in April 2023.

Derivative position as of December 31, 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	Other accrued liabilities	$57,400 U.S. dollars	April 2023	$	—	$	(26	)	$	(26	)
	Other liabilities and deferred credits(1)			—		(103		)	(103		)
Foreign currency derivatives	Prepaid expenses and other	6,909,050 Japanese Yen 51,380 Australian Dollars	December 2015	13,921		—			13,921
	Long-term prepayments and other	3,758,500 Japanese Yen 13,080 Australian Dollars	November 2016	4,565		—			4,565
Derivatives not designated as hedges
Foreign currency derivatives	Prepaid expenses and other	7,714,291 Japanese Yen 43,546 Australian Dollars	December 2015	1,191		—			1,191
	Long-term prepayments and other	2,762,000 Japanese Yen 3,500 Australian Dollars	August 2016	69		—			69
Fuel derivative contracts	Other accrued liabilities	90,994 gallons	December 2015	32,637		(71,447		)	(38,810		)
Negative arbitrage derivative	Other accrued liabilities	$444,540 U.S. dollars	January 2015	—		(500		)	(500		)

(1) Represents the noncurrent portion of the $57.4 million interest rate derivative with final maturity in April 2023.

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 (Loss). 

	(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 June 30,					Three months ended June 30,						Three months ended June 30,
	2015			2014		2015			2014			2015		2014
	(in thousands)
Foreign currency derivatives	$	(1,492	)	$	3,180	$	(4,460	)	$	(1,608	)	$	—	$	—
Interest rate derivatives	(619		)	605		179			206			—		—

	(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)
	Six months ended June 30,					Six months ended June 30,						Six months ended June 30,
	2015			2014		2015			2014			2015		2014
	(in thousands)
Foreign currency derivatives	$	(4,737	)	$	7,708	$	(8,412	)	$	(5,226	)	$	—	$	—
Interest rate derivatives	(62		)	951		366			417			—		—