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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Values of Financial Instruments and Nonfinancial Assets and Liabilities Measured at the Reporting Date The fair values of these financial instruments are summarized as follows:

 

 

 

 

 

Fair Value at

 

 

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hierarchy

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Levels

 

Assets

 

 

Liabilities

 

 

Assets

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives designated as cash flow hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

2

 

$

 

 

$

638

 

 

$

630

 

 

$

 

Foreign currency exchange hedge contracts

 

2

 

 

831

 

 

 

6

 

 

 

 

 

 

 

Total derivatives

 

 

 

$

831

 

 

$

644

 

 

$

630

 

 

$

 

 

Changes in Components of Accumulated Other Comprehensive Income (Loss)

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

 

 

 

 

2022

 

 

 

2021

 

 

 

2020

 

Derivatives:

 

 

 

 

 

 

 

 

 

Fuel Hedge Contracts

 

 

 

 

 

 

 

 

 

 

 

Reclassification of derivative (gains) losses to earnings—net of tax

 

$

(10,629

)

 

$

(6,481

)

 

$

5,825

 

Change in fair value of derivatives—net of tax

 

 

9,681

 

 

 

5,653

 

 

 

(5,152

)

Net change in cash flow derivative fuel hedges—net of tax

 

$

(948

)

 

$

(828

)

 

$

673

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Exchange Hedge Contracts

 

 

 

 

 

 

 

 

 

 

 

Reclassification of derivative (gains) losses to earnings—net of tax

 

$

116

 

 

$

 

 

$

 

Change in fair value of derivatives—net of tax

 

 

501

 

 

 

 

 

 

 

Net change in cash flow derivative foreign currency hedges—net of tax

 

 

617

 

 

 

 

 

 

 

Total net change in cash flow derivative hedges—net of tax

 

$

(331

)

 

$

(828

)

 

$

673

 

Adjustments Reclassified from Accumulated Balances Other Comprehensive Income (Loss) to Earnings

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

 

 

 

Statements operations location

 

 

2022

 

 

 

2021

 

 

 

2020

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs of contract revenues

 

$

(14,219

)

 

$

(8,670

)

 

$

7,703

 

 

 

Income tax (provision) benefit

 

 

(3,590

)

 

 

(2,189

)

 

 

1,878

 

 

 

 

 

$

(10,629

)

 

$

(6,481

)

 

$

5,825