New Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table provides the impact of applying the New Revenue Standard to the Company’s previously reported balances as of December 31, 2017:



	Balance as of December 31, 2017
(in millions)	As Reported		New Revenue Standard			As Recast
Accrued liabilities	$	1,777	$	(77	)	$	1,700
Air traffic liability	3,460		35			3,495
Air traffic liability - noncurrent	—		1,070			1,070
Deferred income taxes	2,358		(239		)	2,119
Retained earnings	14,621		(789		)	13,832

The impacts of applying the New Revenue Standard, the New Retirement Standard, and the New Hedging Standard to the Company’s unaudited Condensed Consolidated Statement of Comprehensive Income for the three and six months ended June 30, 2017, are as follows:



	Three months ended June 30, 2017
(in millions), except per share amounts	As Reported		New Revenue Standard			New Retirement Standard			New Hedging Standard			As Recast
Passenger revenue	$	5,233	$	146		$	—		$	—		$	5,379
Other revenue	467		(159		)	—			—			308
Salaries, wages, and benefits	1,867		—			(4		)	—			1,863
Fuel and oil expense	990		—			—			34			1,024
Other operating expenses	735		(8		)	—			—			727
Other (gains) losses, net	74		—			4			(34		)	44
Provision for income taxes	424		(2		)	—			—			422
Net income	746		(3		)	—			—			743
Net income per share, basic	1.24		(0.01		)	—			—			1.23
Net income per share, diluted	1.23		—			—			—			1.23



	Six months ended June 30, 2017
(in millions), except per share amounts	As Reported		New Revenue Standard			New Retirement Standard			New Hedging Standard			As Recast
Passenger revenue	$	9,658	$	267		$	—		$	—		$	9,925
Other revenue	883		(309		)	—			—			574
Salaries, wages, and benefits	3,600		—			(6		)	—			3,594
Fuel and oil expense	1,912		—			—			67			1,979
Other operating expenses	1,431		(17		)	—			—			1,414
Other (gains) losses, net	167		—			6			(67		)	106
Provision for income taxes	626		(10		)	—			—			616
Net income	1,097		(15		)	—			—			1,082
Net income per share, basic	1.80		(0.02		)	—			—			1.78
Net income per share, diluted	1.80		(0.03		)	—			—			1.77

The impact of applying the New Revenue Standard to the Company’s unaudited Condensed Consolidated Statement of Cash Flows for the three and six months ended June 30, 2017, are as follows:



	Three months ended June 30, 2017
(in millions)	As Reported			New Revenue Standard			As Recast
Net income	$	746		$	(3	)	$	743
Deferred income taxes	69			(1		)	68
Changes in certain assets and liabilities	(444		)	4			(440		)
Net cash provided by operating activities	746			—			746



	Six months ended June 30, 2017
(in millions)	As Reported		New Revenue Standard			As Recast
Net income	$	1,097	$	(15	)	$	1,082
Deferred income taxes	131		(10		)	121
Changes in certain assets and liabilities	429		25			454
Net cash provided by operating activities	2,370		—			2,370