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Comprehensive Income (Loss) (Tables)

9 Months Ended

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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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
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