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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below presents the fair value of our derivative financial instruments as well as their classification on the consolidated balance sheet at March 31, 2021 and December 31, 2020, as follows (in millions):
|  |  | March 31, 2021 |  | December 31, 2020
Derivatives designated as | Balance Sheet Location |  | Fair Value
Cash flow hedging contracts | Other current and noncurrent liabilities |  | $ | 87 |  |  | 107 |
Derivative Instruments, Gain (Loss) | The amount of unrealized (gains) losses recognized in AOCI consists of the following (in millions):
Derivatives designated as hedging instruments |  | 2021 |  | 2020
Cash flow hedging contracts |  |  |  |
Three Months Ended March 31, |  | $ | — |  |  | 106 |
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) by Component | The amount of realized losses reclassified from AOCI to the statement of operations consists of the following (in millions):
Derivatives designated as hedging instruments |  | 2021 |  | 2020
Cash flow hedging contracts |  |  |  |
Three Months Ended March 31, |  | $ | 20 |  |  | 5 |
The tables below present further information about our reclassifications out of accumulated other comprehensive loss by component for the three months ended March 31, 2021:
Three Months Ended March 31, 2021 |  | Decrease (Increase) in Net Income |  | Affected Line Item in Consolidated Statement of Operations
|  | (Dollars in millions) |  |
Interest rate swaps |  | $ | 20 |  |  | Interest expense
Income tax benefit |  | (5) |  |  | Income tax expense
Net of tax |  | $ | 15 |  |  |
Amortization of pension & post-retirement plans(1) |  |  |  |
Net actuarial loss |  | $ | 50 |  |  | Other income (expense), net
Prior service cost |  | 2 |  |  | Other income (expense), net
Total before tax |  | 52 |  |  |
Income tax benefit |  | (13) |  |  | Income tax expense
Net of tax |  | $ | 39 |  |  |
(1)See Note 7—Employee Benefits for additional information on our net periodic benefit (income) expense related to our pension and post-retirement plans. The tables below present further information about our reclassifications out of accumulated other comprehensive loss by component for the three months ended March 31, 2020:
Three Months Ended March 31, 2020 |  | Decrease (Increase) in Net Income |  | Affected Line Item in Consolidated Statement of Operations
|  | (Dollars in millions) |  |
Interest rate swaps |  | $ | 5 |  |  | Interest expense
Income tax expense |  | — |  |  | Income tax expense
Net of tax |  | $ | 5 |  |  |
Amortization of pension & post-retirement plans(1) |  |  |  |
Net actuarial loss |  | $ | 50 |  |  | Other income (expense), net
Prior service cost |  | 1 |  |  | Other income (expense), net
Total before tax |  | 51 |  |  |
Income tax benefit |  | (12) |  |  | Income tax expense
Net of tax |  | $ | 39 |  |  |
(1)See Note 7—Employee Benefits for additional information on our net periodic benefit (expense) income related to our pension and post-retirement plans.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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