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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2024
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 Levels

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2024

 

 

December 31, 2023

 

 

 

 

 

Assets

 

 

Liabilities

 

 

Assets

 

 

Liabilities

 

Derivatives designated as cash flow hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

2

 

$

—

 

 

$

3,467

 

 

$

—

 

 

$

2,918

 

Foreign currency exchange hedge contracts

 

2

 

 

2

 

 

 

21

 

 

 

358

 

 

 

—

 

Interest rate swaps

 

2

 

 

—

 

 

 

536

 

 

 

—

 

 

 

—

 

Total derivatives

 

 

 

$

2

 

 

$

4,024

 

 

$

358

 

 

$

2,918

 
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:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Fuel Hedge Contracts

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

644

 

 

$

(297

)

 

$

882

 

 

$

1,507

 

Change in fair value of derivatives—net of tax

 

 

(2,993

)

 

 

3,271

 

 

 

(1,293

)

 

 

1,113

 

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

 

$

(2,349

)

 

$

2,974

 

 

$

(411

)

 

$

2,620

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Exchange Hedge Contracts

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

—

 

 

$

(198

)

 

$

42

 

 

$

(519

)

Change in fair value of derivatives—net of tax

 

 

89

 

 

 

(621

)

 

 

(553

)

 

 

(377

)

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

 

$

89

 

 

$

(819

)

 

$

(511

)

 

$

(896

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swaps

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification of derivative gains to earnings—net of tax

 

$

(112

)

 

$

—

 

 

$

(112

)

 

$

—

 

Change in fair value of derivatives—net of tax

 

 

(289

)

 

 

—

 

 

 

(289

)

 

 

—

 

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

 

$

(401

)

 

$

—

 

 

$

(401

)

 

$

—

 

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

 

$

(2,661

)

 

$

2,155

 

 

$

(1,323

)

 

$

1,724

 

 
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:

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

 

September 30,

 

 

September 30,

 

 

 

Statement of Operations Location

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

Costs of contract revenues

 

$

861

 

 

$

(649

)

 

$

1,180

 

 

$

1,425

 

Foreign currency exchange hedge contracts

 

Other income (expense)

 

 

—

 

 

 

(13

)

 

 

56

 

 

 

(437

)

Interest rate swaps

 

Interest expense—net

 

 

(149

)

 

 

—

 

 

 

(149

)

 

 

—

 

 

Income tax (provision) benefit

 

 

180

 

 

 

(167

)

 

 

275

 

 

 

—

 

 

 

 

$

532

 

 

$

(495

)

 

$

812

 

 

$

988