v3.3.0.814

Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Put and Call Option Contracts

As of September 30, 2015, the Company had the following put and call option contracts related to the Company's commodity fuel price derivatives, which are not designated as hedging contracts and settle on a monthly basis:

	Aggregate Notional Amount (gallons) (a)
Fuel price derivative instruments – unleaded fuel
Option contracts settling October 2015 – March 2016	7,769
Fuel price derivative instruments – diesel
Option contracts settling October 2015 – March 2016	3,848
Total fuel price derivative instruments	11,617

^(a)  The settlement of the put and call option contracts is based upon the New York Mercantile Exchange’s New York Harbor Reformulated Gasoline Blendstock for Oxygenate Blending and the U.S. Department of Energy’s weekly retail on-highway diesel fuel price for the month.

Schedule of Forward and Spot Contracts related to Foreign Exchange Contracts

As of September 30, 2015, the Company had the following contracts related to its foreign currency swaps, which are not designated as hedging contracts and settle in U.S. dollars at various dates within 2 days:

	Aggregate Notional Amount
Australian dollar	A$	9,500
Euro	€	1,700
Pound sterling	£	17,000

Location and Amounts of Derivative Fair Values in Condensed Consolidated Balance Sheets

The following table presents information on the location and amounts of derivative fair values in the unaudited condensed consolidated balance sheets:

Derivatives Classified as Assets

Derivatives Classified as Liabilities

September 30, 2015

December 31, 2014

September 30, 2015

December 31, 2014

Derivatives Not Designated as Hedging Instruments

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Commodity contracts

Fuel price derivatives, at fair value

$

13,417

Fuel price derivatives, at fair value

$

40,969

Fuel price derivatives, at fair value

$

—

Fuel price derivatives, at fair value

$

—

Foreign currency swaps

Accounts receivable

$

15

Accounts receivable

$

—

Accounts payable

$

115

Accounts payable

$

—

Location and Amounts of Derivative Gains and Losses in Condensed Consolidated Statements of Income

The following table presents information on the location and amounts of derivative gains and losses in the unaudited condensed consolidated statements of income:

			Amount of Gain or (Loss) Recognized in Income on  Derivative
Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in		Three months ended September 30,								Nine months ended  September 30,
	Income on Derivative		2015				2014				2015				2014
Commodity contracts	Net realized and unrealized gain on fuel price derivative instruments		$	7,922			$	14,773			$	4,671			$	9,057
Foreign currency forward exchanges	Net foreign currency gain (loss)		$	—			$	8,177			21,967				$	6,893
Foreign currency swaps	Net foreign currency gain (loss)		$	(100	)		$	—			$	(100	)		$	—

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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