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New Accounting Pronouncements (Tables)

9 Months Ended

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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- References

No definition available.

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
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-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e765-108305

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-Topic 270
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-Name Accounting Standards Codification
-Topic 270
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

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