Royal Caribbean Cruise Lines 2011 Annual Report Download - page 93
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
ROYAL CARIBBEAN CRUISES LTD. 89
The fair value and line item caption of derivative instruments recorded were as follows:
Fair Value of Derivative Instruments
Asset Derivatives Liability Derivatives
As of As of As of As of
December 31, December 31, December 31, December 31,
2011 2010 2011 2010
Balance Balance
Sheet Sheet
(in thousands)
Location Fair Value Fair Value Location Fair Value Fair Value
Derivatives designated as hedging instruments under ASC 815-201
Interest rate swaps Other assets
Other long-
term liabilities —
Cross currency swaps Other assets
Other long-
term liabilities — —
Foreign currency forward contracts
Derivative
financial
instruments —
Accrued
expenses and
other liabilities
Foreign currency forward contracts Other assets —
Other long-
term liabilities —
Fuel swaps
Derivative
financial
instruments
Accrued
expenses and
other liabilities — —
Fuel swaps Other assets
Other long-
term liabilities
Total derivatives designated as
hedging instruments under 815-20
Derivatives not designated as hedging instruments under ASC 815-20
Foreign currency forward contracts Other assets —
Other long-
term liabilities —
Fuel call options
Derivative
financial
instruments —
Accrued
expenses and
other liabilities — —
Fuel call options Other assets
Other long-
term liabilities — —
Total derivatives not designated as
hedging instruments under 815-20
—
Total derivatives
1 Accounting Standard Codification 815-20 “Derivatives and Hedging.”
The fair value and line item caption of non-derivative instruments recorded was as follows:
Carrying Value
Non-derivative instrument designated as hedging
instrument under ASC 815-20 Balance Sheet Location
As of December 31,
2011
As of December 31,
2010
(in thousands)
Foreign currency debt Long-term debt