Royal Caribbean Cruise Lines 2014 Annual Report Download - page 96

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Royal Caribbean Cruises Ltd. 95
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 (Loss) Gain 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
YearEnded
December
YearEnded
December
YearEnded
December
(In thousands)
Interest rate swaps
Interest expense, net of
interest capitalized    
Interest rate swaps Other income (expense)  () () 
 () () 
The effect of derivative instruments qualifying and designated as cash flow hedging instruments on the consoli-
dated financial statements was as follows:
Amount of (Loss) Gain
Recognized in OCI on
Derivative (Effective Portion) Locationof(Loss)
GainReclassified
Amount of (Loss) Gain
Reclassified from Accumulated
OCI into
Income (Effective Portion)
Locationof(Loss)
GainRecognizedin
Incomeon
Derivative
(IneffectivePortion
andAmount
Amount of (Loss) Gain
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

YearEnded
December

fromAccumulated
OCIintoIncome
(EffectivePortion)
YearEnded
December

YearEnded
December

Excludedfrom
Effectiveness
Testing)
YearEnded
December

YearEnded
December

(In thousands)
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
forward contracts — —
Interest
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 net investment hedging instruments 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

YearEnded
December

Income (Ineffective Portion
and Amount Excluded from
Effectiveness Testing)
YearEnded
December

YearEnded
December

(In thousands)
Foreign Currency Debt  ()
Otherincome
(expense) — —
 () — —
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS