Royal Caribbean Cruise Lines 2011 Annual Report Download - page 94
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2011 ANNUAL REPORT 90
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Amount of Gain (Loss)
Recognized in OCI on
Derivative (Effective Portion)
Amount of Gain (Loss) Reclassified
from Accumulated OCI into
Income (Effective Portion)
Amount of Gain (Loss)
Recognized in Income on
Derivative (Ineffective Portion
and Amount Excluded from
Effectiveness Testing)
The effect of derivative instruments qualifying and designated as hedging instruments and the related hedged
items in fair value hedges on the consolidated statement of operations was as follows:
Derivatives and Related Hedged Location of Gain (Loss)
Amount of Gain (Loss) Recognized
in Income on Derivative
Amount of Gain (Loss) Recognized
in Income on Hedged Item
Items under ASC 815-20 Fair
Value Hedging Relationships
Recognized in Income on
Derivative and Hedged Item
Year Ended
December 31, 2011
Year Ended
December 31, 2010
Year Ended
December 31, 2011
Year Ended
December 31, 2010
(in thousands)
Interest rate swaps
Interest expense, net of
interest capitalized
Cross currency swaps
Interest expense, net of
interest capitalized — — —
Interest rate swaps Other income (expense) () ()
Cross currency swaps
Other income (expense) — () —
Foreign currency
forward contracts Other income (expense) () ()
()
The effect of derivative instruments qualifying and designated as hedging instruments in cash flow hedges on the
consolidated financial statements was as follows:
Derivatives under ASC
815-20 Cash Flow Hedging
Relationships
Year Ended
December 31,
2011
Year Ended
December 31,
2010
Location of Gain
(Loss) Reclassified
from Accumulated
OCI into Income
(Effective Portion)
Year Ended
December 31,
2011
Year Ended
December 31,
2010
Location of Gain
(Loss) Recognized
in Income on
Derivative
(Ineffective Portion
and Amount
Excluded from
Effectiveness
Testing)
Year Ended
December 31,
2011
Year Ended
December 31,
2010
(in thousands)
Cross currency
swaps ()
Other income
(expense) ()
Other income
(expense) — —
Interest rate swaps () —
Other income
(expense) — —
Other income
(expense) () —
Foreign currency
forward contracts () ()
Depreciation
and amortiza-
tion expenses ()
Other income
(expense) ()
Foreign currency
forward contracts () ()
Other income
(expense) ()
Other income
(expense) — —
Fuel swaps Fuel
Other income
(expense)
()
The effect of non-derivative instruments qualifying and designated as hedging instruments in net investment
hedges on the consolidated financial statements was as follows:
Amount of Gain (Loss)
Recognized in OCI
(Effective Portion) Location of Gain (Loss) in
Amount of Gain (Loss)
Recognized in Income
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
Non-derivative Instruments under ASC 815-20
Net Investment Hedging Relationships
Year Ended
December 31,
2011
Year Ended
December 31,
2010
Income (Ineffective Portion
and Amount Excluded from
Effectiveness Testing)
Year Ended
December 31,
2011
Year Ended
December 31,
2010
(in thousands)
Foreign Currency Debt Other income (expense) — —
— —