Royal Caribbean Cruise Lines 2014 Annual Report Download - page 96
Download and view the complete annual report
Please find page 96 of the 2014 Royal Caribbean Cruise Lines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.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
YearEnded
December
YearEnded
December
YearEnded
December
YearEnded
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) Locationof(Loss)
GainReclassified
Amount of (Loss) Gain
Reclassified from Accumulated
OCI into
Income (Effective Portion)
Locationof(Loss)
GainRecognizedin
Incomeon
Derivative
(IneffectivePortion
andAmount
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
YearEnded
December
YearEnded
December
fromAccumulated
OCIintoIncome
(EffectivePortion)
YearEnded
December
YearEnded
December
Excludedfrom
Effectiveness
Testing)
YearEnded
December
YearEnded
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
YearEnded
December
YearEnded
December
Income (Ineffective Portion
and Amount Excluded from
Effectiveness Testing)
YearEnded
December
YearEnded
December
(In thousands)
Foreign Currency Debt ()
Otherincome
(expense) — —
() — —
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS