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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Comprehensive income (loss) includes changes in the fair value of certain financial derivative instruments that qualify for hedge accounting, unrealized gains and losses on certain investments, and actuarial gains/losses arising from the Company’s postretirement benefit obligation. A rollforward of the amounts included in AOCI, net of taxes, is shown below for 2020 and 2019:

(in millions)			Fuel derivatives						Interest rate derivatives						Defined benefit plan items						Other						Deferred tax impact						Accumulated other comprehensive income (loss)
Balance at December 31, 2018			$	(56)					$	—					$	58					$	25					$	(7)					$	20
Changes in fair value			(117)						(38)						(38)						34						37						(122)
Reclassification to earnings			48						5						—						—						(12)						41
Balance at December 31, 2019			$	(125)					$	(33)					$	20					$	59					$	18					$	(61)
Changes in fair value			(103)						(34)						(63)						32						39						(129)
Reclassification to earnings			109						1						—						—						(25)						85
Balance at December 31, 2020			$	(119)					$	(66)					$	(43)					$	91					$	32					$	(105)

The following table illustrates the significant amounts reclassified out of each component of AOCI for the year ended December 31, 2020:

Year ended December 31, 2020
(in millions)						Amounts reclassified from AOCI						Affected line item in the Consolidated Statement of Comprehensive Income (Loss)
AOCI components
Unrealized loss on fuel derivative instruments						$	70					Fuel and oil expense
						39						Other (gains) losses, net
						25						Less: Tax expense
						$	84					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						$	85					Net of tax

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- References

No definition available.

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