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New Accounting Pronouncements (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 30, 2017, are as follows (amounts may not recalculate due to rounding):
| Three months ended September 30, 2017
(in millions), except per share amounts | As Reported |  | New Revenue Standard |  | New Retirement Standard |  | New Hedging Standard |  | As Recast
Passenger revenue | $ | 4,745 |  |  | $ | 199 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,944 |
Other revenue | 484 |  |  | (167 | ) |  | — |  |  | — |  |  | 317 |
Salaries, wages, and benefits | 1,795 |  |  | — |  |  | (4 | ) |  | — |  |  | 1,791 |
Fuel and oil expense | 1,003 |  |  | — |  |  | — |  |  | 34 |  |  | 1,037 |
Other operating expenses | 750 |  |  | (9 | ) |  | — |  |  | — |  |  | 741 |
Other (gains) losses, net | 39 |  |  | — |  |  | 4 |  |  | (34 | ) |  | 9 |
Provision for income taxes | 288 |  |  | 16 |  |  | — |  |  | — |  |  | 304 |
Net income | 503 |  |  | 25 |  |  | — |  |  | — |  |  | 528 |
Net income per share, basic | 0.84 |  |  | 0.04 |  |  | — |  |  | — |  |  | 0.88 |
Net income per share, diluted | 0.84 |  |  | 0.04 |  |  | — |  |  | — |  |  | 0.88 |
| Nine months ended September 30, 2017
(in millions), except per share amounts | As Reported |  | New Revenue Standard |  | New Retirement Standard |  | New Hedging Standard |  | As Recast
Passenger revenue | $ | 14,403 |  |  | $ | 466 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,869 |
Other revenue | 1,366 |  |  | (475 | ) |  | — |  |  | — |  |  | 891 |
Salaries, wages, and benefits | 5,395 |  |  | — |  |  | (10 | ) |  | — |  |  | 5,385 |
Fuel and oil expense | 2,915 |  |  | — |  |  | — |  |  | 102 |  |  | 3,016 |
Other operating expenses | 2,179 |  |  | (25 | ) |  | — |  |  | — |  |  | 2,154 |
Other (gains) losses, net | 207 |  |  | — |  |  | 10 |  |  | (102 | ) |  | 115 |
Provision for income taxes | 913 |  |  | 6 |  |  | — |  |  | — |  |  | 920 |
Net income | 1,600 |  |  | 10 |  |  | — |  |  | — |  |  | 1,610 |
Net income per share, basic | 2.65 |  |  | 0.01 |  |  | — |  |  | — |  |  | 2.66 |
Net income per share, diluted | 2.64 |  |  | 0.02 |  |  | — |  |  | — |  |  | 2.66 |
The impacts of applying the New Revenue Standard to the Company’s unaudited Condensed Consolidated Statement of Cash Flows for the three and nine months ended September 30, 2017, are as follows:
| Three months ended September 30, 2017
(in millions) | As Reported |  | New Revenue Standard |  | As Recast
Net income | $ | 503 |  |  | $ | 25 |  |  | $ | 528 |
Deferred income taxes | 82 |  |  | 16 |  |  | 98 |
Changes in certain assets and liabilities | (55 | ) |  | (41 | ) |  | (96 | )
Net cash provided by operating activities | 996 |  |  | — |  |  | 996 |
| Nine months ended September 30, 2017
(in millions) | As Reported |  | New Revenue Standard |  | As Recast
Net income | $ | 1,600 |  |  | $ | 10 |  |  | $ | 1,610 |
Deferred income taxes | 213 |  |  | 6 |  |  | 219 |
Changes in certain assets and liabilities | 374 |  |  | (16 | ) |  | 358 |
Net cash provided by operating activities | 3,366 |  |  | — |  |  | 3,366 |

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