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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
YearEnded
December
YearEnded
December
YearEnded
December
YearEnded
December
(In thousands)
Interest rate swaps
Interest expense, net of
interest capitalized
Interest rate swaps Other (expense) income () ()
Interest rate swaps
Extinguishment of
unsecured senior notes — — —
()
The effect of derivative instruments qualifying and designated as cash flow hedging instruments on the consoli-
dated financial statements was as follows:
Amount of Gain
(Loss) Recognized in OCI on
Derivative (Effective Portion) LocationofGain
(Loss)Reclassified
Amount of Gain (Loss)
Reclassified from Accumulated
OCI into
Income (Effective Portion)
LocationofGain
(Loss)Recognized
inIncomeon
Derivative
(IneffectivePortion
andAmount
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
YearEnded
December
YearEnded
December
fromAccumulated
OCIintoIncome
(EffectivePortion)
YearEnded
December
YearEnded
December
Excludedfrom
Effectiveness
Testing)
YearEnded
December
YearEnded
December
(In thousands)
Cross currency
swaps —
Other
(expense)
income —
Other
(expense)
income — —
Cross currency
swaps — —
Interest
Expense () ()
Other
(expense)
income — —
Interest rate swaps ()
Other
(expense)
income — —
Other
(expense)
income ()
Foreign currency
forward contracts
Depreciation
andamortiza-
tionexpenses () ()
Other
(expense)
income —
Foreign currency
forward contracts — —
Other
(expense)
income ()
Other
(expense)
income — —
Foreign currency
forward contracts — —
Interest
expense () —
Other
(expense)
income — —
Foreign currency
collar options
Depreciation
andamortiza-
tionexpenses——
Other
(expense)
income — —
Fuel swaps Fuel
Other
(expense)
income () ()
() ()
The effect of non-derivative instruments qualifying and designated as net investment hedging instruments on the
consolidated financial statements was as follows:
Amount of Gain (Loss)
Recognized in OCI
(Effective Portion) LocationofGain(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
YearEnded
December
YearEnded
December
Income(IneffectivePortion
andAmountExcludedfrom
EffectivenessTesting)
YearEnded
December
YearEnded
December
(In thousands)
Foreign Currency Debt () () Other(expense)income — —
() () — —