Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)Comprehensive income (loss) includes changes in fair value of our aircraft fuel derivatives which qualify for hedge accounting. A rollforward of the amounts included in accumulated other comprehensive income (loss), net of taxes for the three

months ended March 31, 2021 and 2020 is as follows (in millions):


	Aircraft Fuel Derivatives(1)(2)		Total
Balance of accumulated income, at December 31, 2020	$	—	$	—
Reclassifications into earnings, net of deferred taxes of $0	—		—
Change in fair value, net of deferred taxes of $0	—		—
Balance of accumulated income, at March 31, 2021	$	—	$	—

Balance of accumulated income, at December 31, 2019	$	2	$	2
Reclassifications into earnings, net of deferred taxes $(1)	3		3
Change in fair value, net of deferred taxes of $4	(11)		(11)
Balance of accumulated (loss), at March 31, 2020	$	(6)	$	(6)

(1) Reclassified to aircraft fuel expense.

(2) In 2020, we made several capacity reductions in response to the COVID-19 pandemic. These capacity reductions led to the discontinuance of hedge accounting on a number of our aircraft fuel derivatives as the forecasted consumption of aircraft fuel was no longer probable. Losses of $2 million that were previously deferred in other comprehensive loss were reclassified to interest income and other during the three months ended March 31, 2020.