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Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2024

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Components of Comprehensive Income

The differences between Net income and Comprehensive income for the three and nine months ended September 30, 2024 and 2023 were as follows:

			Three months ended September 30,
(in millions)			2024						2023
NET INCOME			$	67					$	193
Unrealized gain (loss) on fuel derivative instruments, net of   deferred taxes of ($14) and $41			(50)						135
Other, net of deferred taxes of $— and $2			2						8
Total other comprehensive income (loss)			$	(48)					$	143
COMPREHENSIVE INCOME			$	19					$	336

			Nine months ended September 30,
(in millions)			2024						2023
NET INCOME			$	204					$	717
Unrealized loss on fuel derivative instruments, net of   deferred taxes of ($12) and ($45)			(42)						(150)
Other, net of deferred taxes of $1 and $6			5						7
Total other comprehensive loss			$	(37)					$	(143)
COMPREHENSIVE INCOME			$	167					$	574

Schedule of 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 and nine months ended September 30, 2024:

(in millions)			Fuel derivatives												Defined benefit plan items						Other						Deferred tax impact						Accumulated other comprehensive income (loss)
Balance at June 30, 2024			$	(125)											$	149					$	(11)					$	(2)					$	11
Changes in fair value			(79)												—						—						18						(61)
Reclassification to earnings			15												—						2						(4)						13
Balance at September 30, 2024			$	(189)											$	149					$	(9)					$	12					$	(37)

(in millions)			Fuel derivatives												Defined benefit plan items						Other						Deferred tax impact						Accumulated other comprehensive income (loss)
Balance at December 31, 2023			$	(135)											$	149					$	(15)					$	1					$	—
Changes in fair value			(108)												—						—						25						(83)
Reclassification to earnings			54												—						6						(14)						46
Balance at September 30, 2024			$	(189)											$	149					$	(9)					$	12					$	(37)

Schedule of Reclassification out of Accumulated Other Comprehensive Income

The following tables illustrate the significant amounts reclassified out of each component of AOCI for the three and nine months ended September 30, 2024:

Three months ended September 30, 2024
(in millions)						Amounts reclassified from AOCI						Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income
AOCI components
Unrealized loss on fuel derivative instruments						$	15					Fuel and oil expense
						4						Less: Tax expense
						$	11					Net of tax
Other						$	2					Other operating expenses
						—						Less: Tax expense
						$	2					Net of tax
Total reclassifications for the period						$	13					Net of tax

Nine months ended September 30, 2024
(in millions)						Amounts reclassified from AOCI						Affected line item in the unaudited Condensed Consolidated Statement of Comprehensive Income
AOCI components
Unrealized loss on fuel derivative instruments						$	54					Fuel and oil expense
						13						Less: Tax expense
						$	41					Net of tax
Other						$	6					Other operating expenses
						1						Less: Tax expense
						$	5					Net of tax
Total reclassifications for the period						$	46					Net of tax

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

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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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 1
-Section 45
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1

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