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Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
Components of Comprehensive Income (Loss) | The differences between Net income (loss) and Comprehensive income (loss) for the three and nine months ended September 30, 2020 and 2019 were as follows:
| Three months ended September 30, |  |
(in millions) | 2020 |  | 2019
NET INCOME (LOSS) | $ | (1,157) |  |  | $ | 659 |
Unrealized gain (loss) on fuel derivative instruments, net of deferred taxes of $5 and $(24) | 14 |  |  | (80) |
Unrealized gain (loss) on interest rate derivative instruments, net of deferred taxes of $— and $(5) | 3 |  |  | (15) |
Other, net of deferred taxes of $3 and $— | 11 |  |  | 2 |
Total other comprehensive income (loss) | $ | 28 |  |  | $ | (93) |
COMPREHENSIVE INCOME (LOSS) | $ | (1,129) |  |  | $ | 566 |
| Nine months ended September 30, |  |
(in millions) | 2020 |  | 2019
NET INCOME (LOSS) | $ | (2,166) |  |  | $ | 1,787 |
Unrealized gain (loss) on fuel derivative instruments, net of deferred taxes of $(6) and $(18) | (20) |  |  | (61) |
Unrealized loss on interest rate derivative instruments, net of deferred taxes of $(9) and $(13) | (29) |  |  | (40) |
Other, net of deferred taxes of $2 and $4 | 8 |  |  | 18 |
Total other comprehensive loss | $ | (41) |  |  | $ | (83) |
COMPREHENSIVE INCOME (LOSS) | $ | (2,207) |  |  | $ | 1,704 |
Rollforward of the Amounts Included in AOCI, Net of Taxes | A rollforward of the amounts included in AOCI is shown below for the three and nine months ended September 30, 2020:
(in millions) | Fuel derivatives |  | Interest rate derivatives |  | Defined benefit plan items |  | Other |  | Deferred tax |  | Accumulated other comprehensive income (loss)
Balance at June 30, 2020 | $ | (170) |  |  | $ | (74) |  |  | $ | 20 |  |  | $ | 55 |  |  | $ | 39 |  |  | $ | (130) |
Changes in fair value | (21) |  |  | 3 |  |  | — |  |  | 14 |  |  | 1 |  |  | (3) |
Reclassification to earnings | 40 |  |  | — |  |  | — |  |  | — |  |  | (9) |  |  | 31 |
Balance at September 30, 2020 | $ | (151) |  |  | $ | (71) |  |  | $ | 20 |  |  | $ | 69 |  |  | $ | 31 |  |  | $ | (102) |
(in millions) | Fuel derivatives |  | Interest rate derivatives |  | Defined benefit plan items |  | Other |  | Deferred tax |  | Accumulated other comprehensive income (loss)
Balance at December 31, 2019 | $ | (125) |  |  | $ | (33) |  |  | $ | 20 |  |  | $ | 59 |  |  | $ | 18 |  |  | $ | (61) |
Changes in fair value | (118) |  |  | (39) |  |  | — |  |  | 10 |  |  | 34 |  |  | (113) |
Reclassification to earnings | 92 |  |  | 1 |  |  | — |  |  | — |  |  | (21) |  |  | 72 |
Balance at September 30, 2020 | $ | (151) |  |  | $ | (71) |  |  | $ | 20 |  |  | $ | 69 |  |  | $ | 31 |  |  | $ | (102) |
Reclassification out of Accumulated Other Comprehensive Income (Loss) | The following tables illustrate the significant amounts reclassified out of each component of AOCI for the three and nine months ended September 30, 2020:
Three months ended September 30, 2020 |  |  |  |
(in millions) |  | Amounts reclassified from AOCI |  | Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income (Loss)
AOCI components |  |  |  |
Unrealized loss on fuel derivative instruments |  | $ | 18 |  |  | Fuel and oil expense
|  | 22 |  |  | Other (gains) losses, net
|  | 9 |  |  | Less: Tax expense
Total reclassifications for the period |  | $ | 31 |  |  | Net of tax
Nine months ended September 30, 2020 |  |  |  |
(in millions) |  | Amounts reclassified from AOCI |  | Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income (Loss)
AOCI components |  |  |  |
Unrealized loss on fuel derivative instruments |  | $ | 54 |  |  | Fuel and oil expense
|  | 38 |  |  | Other (gains) losses, net
|  | 21 |  |  | Less: Tax expense
|  | $ | 71 |  |  | Net of tax
Unrealized loss on interest rate derivative instruments |  | $ | 1 |  |  | Interest expense
|  | — |  |  | Less: Tax expense
|  | $ | 1 |  |  | Net of tax
Total reclassifications for the period |  | $ | 72 |  |  | Net of tax

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e526-108580 + Details
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