Royal Caribbean Cruise Lines 2012 Annual Report Download - page 94

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90
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
The effect of derivative instruments qualifying and designated as hedging instruments and the related hedged
items in fair value hedges on the consolidated statements of comprehensive income (loss) was as follows:
Amount of Gain (Loss)
Recognized in Income on
Derivative
Amount of Gain (Loss)
Recognized in Income on
Hedged Item
Derivatives and Related Hedged Items under
ASC 815-20 Fair Value Hedging Relationships
Location of Gain (Loss) Recognized in
Income on Derivative and Hedged Item
Year Ended
December 31,
2012
Year Ended
December 31,
2011
Year Ended
December 31,
2012
Year Ended
December 31,
2011
(in thousands)
Interest rate swaps
Interest expense, net of
interest capitalized    
Interest rate swaps Other income (expense) ()   ()
Interest rate swaps
Extinguishment of unsecured
senior notes — —  —
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:
Amount of Gain (Loss)
Recognized in OCI on
Derivative (Effective Portion) Location of Gain
(Loss) Reclassified
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
Amount of Gain (Loss)
Recognized in Income on
Derivative (Ineffective Portion
and Amount Excluded from
Effectiveness testing)
Derivatives under ASC
815-20 Cash Flow
Hedging Relationships
Year Ended
December 31,
2012
Year Ended
December 31,
2011
from Accumulated
OCI into Income
(Effective Portion)
Year Ended
December 31,
2012
Year Ended
December 31,
2011
Excluded from
Effectiveness
Testing)
Year Ended
December 31,
2012
Year Ended
December 31,
2011
(in thousands)
Cross currency
swaps  ()
Other income
(expense)  ()
Other income
(expense) — —
Cross currency
swaps — —
Interest
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) — —
Foreign currency
collar options  —
Depreciation
and amortiza-
tion expenses — —
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,
2012
Year Ended
December 31,
2011
Income (Ineffective Portion
and Amount Excluded from
Effectiveness Testing)
Year Ended
December 31,
2012
Year Ended
December 31,
2011
(in thousands)
Foreign Currency Debt ()  Other income (expense) — —
()  — —