Fair Value Measurements and Derivatives (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of derivatives measured at fair value and disclosed by balance sheet location

		Assets				Liabilities
		March 31,		December 31,		March 31,		December 31,
	Balance Sheet Location	2022		2021		2022		2021
Derivative Contracts Designated as Hedging Instruments
Fuel contracts
	Prepaid expenses and other assets	$	81,704	$	29,349	$	—	$	—
	Other long-term assets		36,764		19,554		—		—
Foreign currency contracts
	Prepaid expenses and other assets		1,478		4,898		—		—
	Accrued expenses and other liabilities		558		—		134,845		98,592
	Other long-term liabilities		—		—		87,560		73,496
Interest rate contracts
	Accrued expenses and other liabilities		—		—		—		469
Total derivatives designated as hedging instruments		$	120,504	$	53,801	$	222,405	$	172,557
Derivative Contracts Not Designated as Hedging Instruments
Fuel contracts
	Prepaid expenses and other assets	$	26,743	$	10,836	$	—	$	—
	Other long-term assets		9,146		3,476		—		—
Debt conversion options	Exchangeable notes		—		—		647,545		487,671
Total derivatives not designated as hedging instruments		$	35,889	$	14,312	$	647,545	$	487,671
Total derivatives		$	156,393	$	68,113	$	869,950	$	660,228

Schedule of gross and net amounts recognized within assets and liabilities

The following table discloses the gross and net amounts recognized within assets and liabilities (in thousands):

			Gross				Gross
	Gross		Amounts		Total Net		Amounts
March 31, 2022	Amounts		Offset		Amounts		Not Offset		Net Amounts
Assets	$	155,835	$	—	$	155,835	$	(155,835)	$	—
Liabilities		869,950		(558)		869,392		(843,613)		25,779

			Gross				Gross
	Gross		Amounts		Total Net		Amounts
December 31, 2021	Amounts		Offset		Amounts		Not Offset		Net Amounts
Assets	$	68,113	$	—	$	68,113	$	(68,113)	$	—
Liabilities		660,228		—		660,228		(660,228)		—

Schedule of cash flow hedges included in accumulated other comprehensive income

The effects of cash flow hedge accounting on accumulated other comprehensive income (loss) were as follows (in thousands):

					Location of Gain
					(Loss) Reclassified
					from Accumulated	Amount of Gain (Loss) Reclassified
	Amount of Gain (Loss)				Other Comprehensive	from Accumulated Other
	Recognized in Other				Income (Loss) into	Comprehensive Income
Derivatives	Comprehensive Loss				Income (Expense)	(Loss) into Income (Expense)
	Three Months		Three Months			Three Months		Three Months
	Ended		Ended			Ended		Ended
	March 31, 2022		March 31, 2021			March 31, 2022		March 31, 2021
Fuel contracts	$	92,483	$	24,050	Fuel	$	8,809	$	(8,171)
Fuel contracts		—		—	Other income (expense), net		—		(10,190)
Foreign currency contracts		(53,179)		(97,441)	Depreciation and amortization		(1,267)		(1,267)
Interest rate contracts		—		354	Interest expense, net		(40)		(2,210)
Total gain (loss) recognized in other comprehensive loss	$	39,304	$	(73,037)		$	7,502	$	(21,838)

Schedule of effects of derivatives designated as cash flow hedges

The effects of cash flow hedge accounting on the consolidated statements of operations include the following (in thousands):

	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
			Depreciation						Depreciation
			and		Interest				and		Interest		Other Income
	Fuel		Amortization		Expense, net		Fuel		Amortization		Expense, net		(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	$	135,509	$	179,076	$	348,324	$	42,603	$	170,316	$	460,332	$	(289,265)
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense)
Fuel contracts		8,809		—		—		(8,171)		—		—		—
Foreign currency contracts		—		(1,267)		—		—		(1,267)		—		—
Interest rate contracts		—		—		(40)		—		—		(2,210)		—
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (expense) as a result that a forecasted transaction is no longer probable of occurring
Fuel contracts		—		—		—		—		—		—		(10,190)

Schedule of effects of derivatives not designated as cash flow hedges

		Amount of Gain (Loss) Recognized in Income
		Three Months Ended
		March 31,
	Location of Gain (Loss)	2022		2021
Derivatives not designated as hedging instruments
Fuel contracts	Other income (expense), net	$	29,743	$	32,172
Debt conversion options	Other income (expense), net		(66,999)		(316,509)