Changes in Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss)

Note 17. Changes in Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in accumulated other comprehensive loss by component for the years ended December 31, 2020, 2019 and 2018 (in thousands):

	Changes related to cash flow derivative hedges		Changes in defined benefit plans		Foreign currency translation adjustments		Accumulated other comprehensive (loss) income
Accumulated comprehensive loss at January 1, 2018	$	(250,355)	$	(33,666)	$	(50,244)	$	(334,265)
Other comprehensive income (loss) before reclassifications	(297,994)		6,156		(14,251)		(306,089)
Amounts reclassified from accumulated other comprehensive loss	11,133		1,487		—		12,620
Net current-period other comprehensive income (loss)	(286,861)		7,643		(14,251)		(293,469)
Accumulated comprehensive loss at January 1, 2019	(537,216)		(26,023)		(64,495)		(627,734)
Other comprehensive income (loss) before reclassifications	(146,108)		(20,314)		869		(165,553)
Amounts reclassified from accumulated other comprehensive loss	(5,205)		779		—		(4,426)
Net current-period other comprehensive (loss) income	(151,313)		(19,535)		869		(169,979)
Accumulated comprehensive loss at January 1, 2020	(688,529)		(45,558)		(63,626)		(797,713)
Other comprehensive (loss) income before reclassifications	(41,109)		(22,051)		(28,698)		(91,858)
Amounts reclassified from accumulated other comprehensive loss	79,119		2,067		69,044		150,230
Net current-period other comprehensive (loss) income	38,010		(19,984)		40,346		58,372
Accumulated comprehensive loss at December 31, 2020	$	(650,519)	$	(65,542)	$	(23,280)	$	(739,341)

The following table presents reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2020, 2019 and 2018 (in thousands):

	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into (Loss) Income
Details about Accumulated Other Comprehensive Loss Components	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018		Affected Line Item in Statements of Comprehensive Income (Loss)
Gain (loss) on cash flow derivative hedges:
Interest rate swaps	(25,267)		(4,289)		(10,931)		Interest expense, net of interest capitalized
Foreign currency forward contracts	(14,679)		(14,063)		(12,843)		Depreciation and amortization expenses
Foreign currency forward contracts	(7,315)		(5,080)		12,855		Other income (expense)
Fuel swaps	3,549		(1,292)		(1,580)		Other income (expense)
Fuel swaps	(35,407)		29,929		1,366		Fuel
	(79,119)		5,205		(11,133)
Amortization of defined benefit plans:
Actuarial loss	(2,067)		(779)		(1,487)		Payroll and related
Prior service costs	—		—		—		Payroll and related
	(2,067)		(779)		(1,487)
Release of foreign cumulative translation due to sale or liquidation of businesses:
Foreign cumulative translation	(69,044)		—		—		Other operating
Total reclassifications for the period	$	(150,230)	$	4,426	$	(12,620)

During the year ended December 31, 2020, a $69.0 million net loss was recorded within Other expense in our consolidated statements of comprehensive (loss) income. The amount was recognized in earnings in connection with the Pullmantur reorganization, as we no longer have significant involvement in the Pullmantur operations and these amounts were previously deferred in Accumulated other comprehensive loss. The net loss consisted of a $92.6 million loss resulting from the recognition of a currency translation adjustment, partially offset by the recognition of a deferred $23.6 million foreign exchange gain related to the Pullmantur net investment hedge. Of the $69.0 million loss, $34.3 million and $34.7 million was released from Accumulated other comprehensive loss during the quarters ended June 30, 2020 and September 30, 2020, respectively.