Hedging Fuel Costs and GAAP Accounting.

[Laxputs]

In regards to Hawaiian Holdings, how should one view the reconciliation from Adjusted Net Income to GAAP Net Income, with regards to the fuel hedging?

 

Why doesn't GAAP reflect what the company actually paid for its fuel, given the hedging the company has in place? Why does there need to be a difference in the two figures due to GAAP?

 

Here is the latest quarter summary for reference:

 

http://investor.hawaiianairlines.com/phoenix.zhtml?c=82818&p=irol-newsArticle&ID=1979966

 

TIA