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Comprehensive Income (Loss) (Tables) | 3 Months Ended
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Mar. 31, 2021
Equity [Abstract] |
Components of Comprehensive Income (Loss) | The differences between Net income (loss) and Comprehensive income (loss) for the three months ended March 31, 2021 and 2020 were as follows:
| Three months ended March 31,
(in millions) | 2021 |  | 2020
NET INCOME (LOSS) | $ | 116 |  |  | $ | (94) |
Unrealized gain (loss) on fuel derivative instruments, net of deferred taxes of $30 and ($19) | 101 |  |  | (65) |
Unrealized gain (loss) on interest rate derivative instruments, net of deferred taxes of $3 and ($10) | 10 |  |  | (32) |
Other, net of deferred taxes of ($13) and ($9) | (47) |  |  | (28) |
Total other comprehensive income (loss) | $ | 64 |  |  | $ | (125) |
COMPREHENSIVE INCOME (LOSS) | $ | 180 |  |  | $ | (219) |
Rollforward of the Amounts Included in AOCI, Net of Taxes | A rollforward of the amounts included in AOCI, net of taxes, is shown below for the three months ended March 31, 2021:
(in millions) | Fuel derivatives |  | Interest rate derivatives |  | Defined benefit plan items |  | Other |  | Deferred tax |  | Accumulated other comprehensive income (loss)
Balance at December 31, 2020 | $ | (119) |  |  | $ | (66) |  |  | $ | (43) |  |  | $ | 91 |  |  | $ | 32 |  |  | $ | (105) |
Cumulative effect of adopting ASU 2016-01 as of January 1, 2018 — See Note 1 | — |  |  | — |  |  | — |  |  | (31) |  |  | 12 |  |  | (19) |
Changes in fair value | 109 |  |  | 12 |  |  | — |  |  | — |  |  | (28) |  |  | 93 |
Reclassification to earnings | 22 |  |  | 1 |  |  | — |  |  | (60) |  | (a) | 8 |  |  | (29) |
Balance at March 31, 2021 | $ | 12 |  |  | $ | (53) |  |  | $ | (43) |  |  | $ | — |  |  | $ | 24 |  |  | $ | (60) |
(a) Investment gains related to prior periods that were reclassified from AOCI into Other (gains) losses, net. See Note 1.
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 months ended March 31, 2021:
Three months ended March 31, 2021
(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 |  | $ | 16 |  |  | Fuel and oil expense
|  | 6 |  |  | Other (gains) losses, net
|  | 5 |  |  | Less: Tax expense
|  | $ | 17 |  |  | Net of tax
Unrealized loss on interest rate derivative instruments |  | $ | 1 |  |  | Other operating expenses
|  | — |  |  | Less: Tax expense
|  | $ | 1 |  |  | Net of tax
Unrealized gain on deferred compensation plan investment (See Note 1) |  | $ | (60) |  |  | Other (gains) losses, net
|  | (13) |  |  | Less: Tax expense
|  | $ | (47) |  |  | Net of tax
Total reclassifications for the period |  | $ | (29) |  |  | Net of tax

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