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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
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

 

September 30, 2025

 

 

December 31, 2024

 

 

 

Levels

 

Assets

 

 

Liabilities

 

 

Assets

 

 

Liabilities

 

Derivatives designated as cash flow hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

2

 

$

440

 

 

$

 

 

$

 

 

$

1,065

 

Interest rate swaps

 

2

 

 

 

 

 

161

 

 

 

217

 

 

 

 

Total derivatives

 

 

 

$

440

 

 

$

161

 

 

$

217

 

 

$

1,065

 

 

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,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

Fuel Hedge Contracts

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

(192

)

 

$

644

 

 

$

450

 

 

$

882

 

Change in fair value of derivatives—net of tax

 

 

861

 

 

 

(2,993

)

 

 

675

 

 

 

(1,293

)

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

 

$

669

 

 

$

(2,349

)

 

$

1,125

 

 

$

(411

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Exchange Hedge Contracts

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification of derivative losses to earnings—net of tax

 

$

 

 

$

 

 

$

 

 

$

42

 

Change in fair value of derivatives—net of tax

 

 

 

 

 

89

 

 

 

 

 

 

(553

)

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

 

$

 

 

$

89

 

 

$

 

 

$

(511

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swaps

 

 

 

 

 

 

 

 

 

 

 

 

Reclassification of derivative gains to earnings—net of tax

 

$

(64

)

 

$

(112

)

 

$

(196

)

 

$

(112

)

Change in fair value of derivatives—net of tax

 

 

26

 

 

 

(289

)

 

 

(86

)

 

 

(289

)

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

 

$

(38

)

 

$

(401

)

 

$

(282

)

 

$

(401

)

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

 

$

631

 

 

$

(2,661

)

 

$

843

 

 

$

(1,323

)

 

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

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel hedge contracts

 

Costs of contract revenues

 

$

(256

)

 

$

861

 

 

$

603

 

 

$

1,180

 

Foreign currency exchange hedge contracts

 

Other income

 

 

 

 

 

 

 

 

 

 

 

56

 

Interest rate swaps

 

Interest expense—net

 

 

(85

)

 

 

(149

)

 

 

(262

)

 

 

(149

)

 

Income tax (expense) benefit

 

 

(85

)

 

 

180

 

 

 

87

 

 

 

275

 

 

 

 

$

(256

)

 

$

532

 

 

$

254

 

 

$

812