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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of Fair Values of Financial Instruments and Nonfinancial Assets and Liabilities Measured at the Reporting Date The fair values of these financial instruments are summarized as follows:

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

Description

 

At June 30, 2019

 

 

Quoted Prices in Active Markets for Identical Assets (Level 1)

 

 

Significant Other Observable Inputs (Level 2)

 

 

Significant Unobservable Inputs (Level 3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

$

678

 

 

$

 

 

$

678

 

 

$

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

Description

 

At December 31, 2018

 

 

Quoted Prices in Active Markets for Identical Assets (Level 1)

 

 

Significant Other Observable Inputs (Level 2)

 

 

Significant Unobservable Inputs (Level 3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

$

4,710

 

 

$

 

 

$

4,710

 

 

$

 

Schedule of Fair Value of Fuel Hedge Contracts Balance Sheet Location

The fair value of the fuel hedge contracts outstanding as of June 30, 2019 and December 31, 2018 is as follows:

 

 

 

 

 

Fair Value at

 

 

 

 

 

June 30,

 

 

December 31,

 

 

 

Balance Sheet Location

 

2019

 

 

2018

 

Liability derivatives:

 

 

 

 

 

 

 

 

 

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

Accrued expenses

 

$

678

 

 

$

4,710

 

Changes in Components of Accumulated Other Comprehensive Income (Loss)

Changes in the components of the accumulated balances of other comprehensive income (loss) are as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Cumulative translation adjustments—net of tax

 

$

 

 

$

(57

)

 

$

 

 

$

1,304

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification of derivative (gains) losses to earnings—net of tax

 

 

295

 

 

 

(1,037

)

 

 

1,186

 

 

 

(1,769

)

Change in fair value of derivatives—net of tax

 

 

(58

)

 

 

910

 

 

 

1,791

 

 

 

908

 

Net change in cash flow derivative hedges—net of tax

 

 

237

 

 

 

(127

)

 

 

2,977

 

 

 

(861

)

Total other comprehensive income (loss)

 

$

237

 

 

$

(184

)

 

$

2,977

 

 

$

443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments Reclassified from Accumulated Balances Other Comprehensive Income (Loss) to Earnings

 

Adjustments reclassified from accumulated balances of other comprehensive income (loss) to earnings are as follows:

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

 

June 30,

 

 

June 30,

 

 

 

Statement of Operations Location

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

Costs of contract revenues

 

$

399

 

 

$

(1,404

)

 

$

1,606

 

 

$

(2,396

)

 

 

Income tax (provision) benefit

 

 

104

 

 

 

(367

)

 

 

420

 

 

 

(627

)

 

 

 

 

$

295

 

 

$

(1,037

)

 

$

1,186

 

 

$

(1,769

)

Adjustments reclassified from accumulated balances of other comprehensive income (loss) to earnings are as follows:

 

 

 

 

Six Months Ended

 

 

 

 

Statement of Operations Location

 

June 30, 2018

 

 

Cumulative translation adjustment:

 

Other expense

 

$

(2,015

)

 

 

 

Income tax benefit

 

 

527

 

 

 

 

 

 

$

(1,487

)