Royal Caribbean Cruise Lines 2009 Annual Report Download - page 100

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ROYAL CARIBBEAN CRUISES LTD.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The effect of derivative instruments qualifying and designated as hedging instruments in cash flow hedges on the consolidated
financial statements for the year ended December 31, 2009 was as follows:
At December 31, 2009, we have hedged the variability in future cash flows for certain forecasted transactions occurring through
2012.
The effect of derivative instruments qualifying and designated as hedging instruments in net investment hedges on the
consolidated financial statements for the year ended December 31, 2009 was as follows:
F-27
Derivatives under Subtopic 815-20 Cash Flow
Hed
g
in
g
Relationshi
p
s
Amount of Gain
(Loss) Recognized in
OCI on Derivative
(Effective Portion)
Location of Gain
(Loss) Reclassified
from Accumulated
OCI into Income
(Effective Portion)
Amount of Gain
(Loss) Reclassified
from Accumulated
OCI into Income
(Effective Portion)
Location of Gain
(Loss) Recognized
in Income on
Derivative
(Ineffective
Portion and
Amount Excluded
from
Effectiveness
Testin
g
)
Amount of Gain
(Loss) Recognized
in Income on
Derivative
(Ineffective
Portion and
Amount Excluded
from Effectiveness
testin
g
)
Year Ended
December 31, 2009
Year Ended
December 31, 2009
Year Ended
December 31, 2009
I
n thousands
Interest rate swaps
$
—
Interest Expense,
net of interest
capitalized
$(619)
Other income
(expense)
$
—
Foreign currency forward contracts
120,867
Depreciation and
amortization
expenses
271
Other income
(expense)
280
Foreign currency forward contracts
—
Passenger ticket
revenues
103
Other income
(expense)
—
Foreign currency forward contracts
21,814
Other income
(expense)
452
Other income
(expense)
94
Fuel swaps
233,447
Fuel
(82,299)
Other income
(expense)
2,361
$ 376,128
$ (82,092)
$2,735
Non-derivatives instrument under Subtopic 815-20 Net
Investment Hed
g
in
g
Relationshi
p
s
Amount of Gain
(Loss) Recognized
in OCI (Effective
Portion)
Location of Gain
(Loss) in Income
(Ineffective
Portion and
Amount Excluded
from Effectiveness
Testin
g
)
Amount of Gain
(Loss) Recognized in
Income (Ineffective
Portion and Amount
Excluded from
Effectiveness Testin
g
)
Year Ended
December 31, 2009
Year Ended
December 31, 2009
I
n thousands
Foreign Currency Debt
$(2,526)
Other Income
(expense)
$
—
$ (2,526)
$
—