COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2012

COMPREHENSIVE INCOME (LOSS)

13. COMPREHENSIVE INCOME (LOSS)

Comprehensive income (loss) includes changes in the fair value of interest rate swaps and fuel hedges that qualify for hedge accounting. The components of other comprehensive income (loss) and related tax effects for the three and nine month periods ended September 30, 2012 and 2011, are as follows:

	Three months ended September 30, 2012
	Gross			Tax effect			Net of tax
Interest rate swap amounts reclassified into interest expense	$	1,380		$	(525	)	$	855
Fuel hedge amounts reclassified into cost of operations		(1,093	)		415			(678	)
Changes in fair value of interest rate swaps		(2,415	)		918			(1,497	)
Changes in fair value of fuel hedges		1,782			(677	)		1,105
	$	(346	)	$	131		$	(215	)
	Three months ended September 30, 2011
	Gross			Tax effect			Net of tax
Interest rate swap amounts reclassified into interest expense	$	1,186		$	(451	)	$	735
Fuel hedge amounts reclassified into cost of operations		(1,101	)		418			(683	)
Changes in fair value of interest rate swaps		(2,081	)		791			(1,290	)
Changes in fair value of fuel hedges		(1,042	)		396			(646	)
	$	(3,038	)	$	1,154		$	(1,884	)

	Nine months ended September 30, 2012
	Gross			Tax effect			Net of tax
Interest rate swap amounts reclassified into interest expense	$	3,886		$	(1,477	)	$	2,409
Fuel hedge amounts reclassified into cost of operations		(3,327	)		1,265			(2,062	)
Changes in fair value of interest rate swaps		(7,208	)		2,739			(4,469	)
Changes in fair value of fuel hedges		2,455			(933	)		1,522
	$	(4,194	)	$	1,594		$	(2,600	)
	Nine months ended September 30, 2011
	Gross			Tax effect			Net of tax
Interest rate swap amounts reclassified into interest expense	$	4,641		$	(1,764	)	$	2,877
Fuel hedge amounts reclassified into cost of operations		(3,189	)		1,212			(1,977	)
Changes in fair value of interest rate swaps		(4,684	)		1,780			(2,904	)
Changes in fair value of fuel hedges		2,882			(1,095	)		1,787
	$	(350	)	$	133		$	(217	)

A rollforward of the amounts included in AOCL, net of taxes, is as follows:

	Fuel Hedges			Interest Rate Swaps			Accumulated Other Comprehensive Loss
Balance at December 31, 2011	$	2,172		$	(5,652	)	$	(3,480	)
Amounts reclassified into earnings		(2,062	)		2,409			347
Changes in fair value		1,522			(4,469	)		(2,947	)
Balance at September 30, 2012	$	1,632		$	(7,712	)	$	(6,080	)

See Note 10 for further discussion on the Company’s derivative instruments.