Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

The fair values of these financial instruments are summarized as follows:

		Fair Value at
	Fair Value
	Hierarchy	June 30, 2022				December 31, 2021
	Levels	Assets		Liabilities		Assets		Liabilities

Derivatives designated as cash flow hedging instruments:
Fuel Hedge Contracts	2	$	8,710	$	-	$	630	$	-
Foreign Currency Exchange Hedge Contracts	2		81		322		-		-
Total derivatives		$	8,791	$	322	$	630	$	-

Changes in the components of the accumulated balances of other comprehensive income (loss) are as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Derivatives:
Fuel Hedge Contracts
Reclassification of derivative gains to earnings—net of tax	$	(4,719	)	$	(1,878	)	$	(7,200	)	$	(3,404	)
Change in fair value of derivatives—net of tax		4,584			2,282			13,300			5,694
Net change in cash flow derivative fuel hedges—net of tax	$	(135	)	$	404		$	6,100		$	2,290

Foreign Currency Exchange Hedge Contracts
Change in fair value of derivatives—net of tax		(241	)		-			(241	)		-
Net change in cash flow derivative foreign currency hedges—net of tax	$	(241	)	$	-		$	(241	)	$	-
Total net change in cash flow derivative hedges—net of tax	$	(376	)	$	404		$	5,859		$	2,290

Adjustments reclassified from accumulated balances of other comprehensive income (loss) to earnings are as follows:

		Three Months Ended						Six Months Ended
		June 30,						June 30,
	Statement of Operations Location	2022			2021			2022			2021
Derivatives:
Fuel Hedge Contracts	Costs of contract revenues	$	(6,313	)	$	(2,513	)	$	(9,632	)	$	(4,554	)
	Income tax provision		(1,594	)		(635	)		(2,432	)		(1,150	)
		$	(4,719	)	$	(1,878	)	$	(7,200	)	$	(3,404	)